The cost of making one cup of lemonade = 0.01 + 0.02 + 0.03 + 0.02 + 0.10 = 0.18
Wanda sells a cup of lemonade for 0.50, thus, she always make a gain of 0.32 on each cup of lemonade. That is, Profit = 0.50 - 0.18 = 0.32.
For 300 cups of lemonade, Wanda profit's will be 0.32 * 300 = 96
Therefore, Wanda's economic profit is $96.
Answer:
Dr Depreciation Expense $3,620
Cr Accumulated Depreciation-Equipment $3,620
Explanation:
Based on the information given we were told that the company had zero balances in both Accumulated Depreciation -Equipment as well as the Depreciation Expense in which the Depreciation amount for the year is estimated to be $3,620 which means that the adjusting entry for depreciation at December 31 will be recorded as:
Preparation of Journal entry
Dec. 31
Dr Depreciation Expense $3,620
Cr Accumulated Depreciation-Equipment $3,620
True rather be safe then sorry
Answer: Donating food to needy communities, and clothes
Explanation: The fabric of society
Answer: $5960
Explanation:
Based on the analysis and the information provided in the question, the amount of taxes that Tim can deduct as an itemized deduction will be the addition of the Tim's state income tax return for the previous year, the state tax that was held during the year and the estimated state tax payment. This will be:
= $740 + $4200 + $1020
= $5960
Therefore, the amount of taxes that Tim can deduct as an itemized deduction will be $5960.
