It depends on what cover he have even full cover or lie ability insurance
Answer:
Explanation:
You are able to deduct expenses that are directly related to the business travel.
He can deduct the entire 175 for driving, since he would need to do that no matter if he stayed longer or not. Staying longer doesn't add any extra cost.
He can deduct lodging that covers the amount of time dedicated to business so of the 600 he can deduct 1/4 or $150 since only 1 of the 4 days was business related.
And the $50 for food for the day he spent on business
Answer:
a-
[Find solution in the attachment]
a- 2)
Balance of accounts receivable at the end of 2018 = $2,400
Solution b:
Balance of accounts payable at the end of 2018 = $7,100
Solution c:
Gross margin = Sales - COGS = $21,400 - $14,300 = $7,100
Net Income = Gross margin - Operating expenses = $7,100 - $3,900 = $3,200
Solution d:
Cash flow from operating activities = Cash received from customer - Cash paid for accounts payable - Cash paid for operating expenses = $19,000 - $11,900 - $3,900 = $3,200
The utility is not maximized since the marginal utility gained from the fifth sandwich is greater.
In economics, utility refers to the entire satisfaction or benefit gained from consuming an item or service. Consumer utility maximization is commonly assumed in the economic theories based on the rational choice.
In economics, the marginal utility is the additional satisfaction (utility) that a buyer receives by purchasing an additional unit of the product or the service. It computes utility once the first product is consumed (the marginal amount).
Therefore, the utility is not maximized , from the fifth sandwich onwards the marginal utility is more.
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