Zippy's economic profit is $80,000.
Economic Profit = Revenues - (Explicit Cost + Implicit Cost)
Implicit cost or opportunity cost refers to the loss an individual incurs from an alternative decision, as a result of making a decision.
In this question, Zippy's implicit costs are the $30,000 from his job at Joe's car repair.
Additionally, he loses the 10% interest he would have earned on his savings of $150,000 had he not started his business.
So Zippy's implicit cost is $45,000 ($30,000 + $15,000)
Answer:
A. Dispatch/ Deployment
Explanation:
NIMS refers to National Incident Management System that is basically created by the Federal Government in order to keep a regulated and national approach that is comprehensive for the incident management.
The Dispatch and Deployment characteristic provide that no resources shall be dispatched before the prior approval of management, and that the resources shall be deployed only when the management asks for such deployment.
This basically establishes the importance of authorities and personnel that is higher management.
Answer:
a. Freeman estimates that it is reasonably possible but not likely that it will lose a current lawsuit. Freeman's attorneys estimate the potential loss will be $4,500,000.
- Describe the situation in a note to the financial statements.
Since the event is possible but not likely, it should be disclosed in the footnotes of the financial statements.
b. Freeman received notice that it was being sued. Freeman considers this lawsuit to be frivolous.
Since this is a frivolous lawsuit, there is no need to disclose it.
c. Freeman is currently the defendant in a lawsuit. Freeman believes it is likely that it will lose the lawsuit and estimates the damages to be paid will be $75,000.
- Record an expense and a liability based on estimated amounts.
Since the negative outcome is probable and you were able to quantify your losses, you must record the expense for $75,000 and include the amount as a current liability.
Answer:
The cattle industry began in the far west and furnished the great plain areas with livestock. The cattle industry progressively lost its relevance because of the excessive westward expansion, resulting in competition for the industry. There was too much cattle, but not enough food and land to sustain such great populations of livestock.
The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.
As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.
Answers
let <em>C</em> be the capital, then
:
The capital contributed by Mr. Jefferson was <em>$4,262,500</em>
