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sladkih [1.3K]
3 years ago
5

Jill took ​$80 comma 000 that she had in savings and started her own business. If left in investments she would have earned ​$8

comma 000 this year. Jill also left a job that paid her ​$80 comma 000 a year and plans on paying herself ​$60 comma 000. Materials and other labor costs will be ​$90 comma 000. The company is located in a building that Jill owns. She could have rented the building out for ​$50 comma 000 but plans on charging the company only the insurance and mortgage payment of ​$40 comma 000. What do the accounting and economic costs​ equal?
Business
1 answer:
nekit [7.7K]3 years ago
4 0

Answer:

$190,000 ; $228,000

Explanation:

Accounting Cost:

= Salary of Jill + Labor costs +  Insurance and mortgage payment

= $60,000 + $90,000 + $40,000

= $190,000

Economic Cost:

= Accounting Cost + Investment return lost + Loss in Salary  + Loss in Rent

= $190,000  + $8,000 + ($80,000 - $60,000) + ($50,000 - $40,000)  

= $228,000

Therefore, accounting and economic costs​ are $190,000  and $228,000, respectively.

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<h3>Answer:</h3>

Debiting salaries Expense $400 and Crediting Salaries payable $400.

<h3>Explanation:</h3>

We are given;

1 employees earns $ 100 a day

Therefore;

2 employees will earn $ 200 a day

The month ends on Tuesday, but the two employees works on Monday and Tuesday.

  • Therefore, the month-end adjusting entry to record will be the amount earned by the two employees on the two days.

Two employees for 2 days = $200/day × 2 days

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  • But, salary is an expense, and in the accounts an increase in expense account is debited.
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    Debiting salaries Expense $400 and Crediting Salaries payable $400.

3 0
3 years ago
Amy and mike are going to an amusement park. they each bought ice cream, and mike got a soda. amy. y had a $10 coupon to put tow
N76 [4]

We have that

Cost total-------------------------$10 coupon+$30.25=$40.25

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<span>soda cost                                   $X*1</span>= -$X

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$X= $ 1.25

a soda costs at the amusement park $ <span>1.25</span>

5 0
3 years ago
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______________ knowledge refers to the entrepreneur's possession of information, technology, know-how, and skills that provide i
olga_2 [115]

Answer:

The correct word for the blank space is: Market.

Explanation:

Market knowledge refers to the collection of information about the business and all its resources being offered to the market. It does not only help entrepreneurs to have a better understanding of what the firm is and what it can do but also allows them to improve the decisions they take to direct the business process towards the organizational goal.

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2 years ago
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Answer:

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sold = 48,000 units

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There are four major categories of Trademarks which include the following:

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Learn more about Trademarks here: brainly.com/question/11957410

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