Answer:
There are two types of profit and costs in nay business, which are accounting costs/profit and the economic costs/profits.
Accounting costs include everything that is tangible or the monetary costs a firm pays, while the economic costs include the cost which is intangible(Opportunity costs) as well as tangible.
Here in this question, the profit of the firm therefore is,
a. From an accountant;s definition = 130000-(6000+42000+7000) = 75000.
b. From an economist's definition = 130000-(6000+42000+7000+65000+6000) = 4000.
Hope this helps you. Thankyou.
Answer:
The Jerry's adjusted basis in his partnership interest at the end of the year is $45,500
Explanation:
The adjusted basis of Jerry in his partnership is shown below:
= Partnership interest - Ordinary loss + long term capital gain + dividend - non deductible expense + cash contribution - share reduction
= $50,000 -$15,000 + $3,000 + $2,000 - $500 + $10,000 -$4,000
= $45,500
The ordinary loss, share reduction, and non deductible expense would decrease the Jerry interest in partnership firm while all other cost would increase his interest. That's why the amount is added and subtracted.
Hence, the Jerry's adjusted basis in his partnership interest at the end of the year is $45,500
Answer:
I think its #1 bro i don't know
Answer:
8000$
Explanation:
The Income Statement is one of an organization's centre budget summaries that show their benefit and losses. Revidup should report 8000$ as a cost on its income statement. The expense of the sum sold must be accounted for in the income statement whether the payment is in advance or if the amount of money is made later. The reason to report 8000$ is that, it is the cost of the amount sold and it is compulsory to report it as an expense in income statement.
Answer: Primemerica
Explanation: Its a financial company where you get to build a business within the company. You will be helping families financially. You going to help people get out of debt, make sure they have the right amount of life insurance coverage, and show them how to reach their goals (such as saving for retirement, college fund, vacation, buying a house, or whatever their goals are). Most people don't have a plan on how to reach their goals. Without a plan, their goals will never come true because there are too many distractions in life.
Besides helping families, you can also recruit people into your business and every recruit has the same opportunity as you do. Why recruit? For one, there's only 24 hours in a day and you are just 1 person. How much work can you do by yourself? If you recruit people, more work gets done. Second, you get to make new friends by recruiting. Third, you override your recruits. That means every time your recruit helps a family, the company pays you an override. An override is not a split in commissions. Its profits earn from a sale. That's how every business work. For example, if you worked at McDonalds, every time you sell a burger, the company earns a profit. Do you think the owner of a McDonalds restaurant is there? Of course not. He or she is probably enjoying life.
Override leads to freedom. The top earners in this company earning millions of dollars per year really don't do any work anymore. They live off overrides and residual income (which is work they done in the past continues to pay them forever). Some of these million dollar earners do training and teach others valuable lessons on how to build a business. If you look at the background of these million dollar earners, most of them came from a poverty or middle class families. Are these people any better than you or me? Of course not. They just worked harder than anyone else. Will you get to be a million dollar earner? Only if you work as hard as they did and do it long enough. It all depends on how badly you want it and how much do you believe in yourself.
