Answer:
(a) $45,000
(b) -$16,000
Explanation:
(a) Jarod’s accounting profit:
= Total revenue - Total cost
= (Price charge for repair × No. of repairs) - (Rent + wages)
= ($65 × 3,000) - ($50,000 + $100,000)
= $195,000 - $150,000
= $45,000
(b) Opportunity cost = Previous job earnings + Interest on equipment
= $60,000 + $20,000 × 5%
= $61,000
Jarod’s economic profit:
= Accounting profit - Opportunity cost
= $45,000 - $61,000
= -$16,000
The correct answer would be option A, computer,desk,legal/incorporation fees,roof.
She also paid $6000 in legal/incorporation fees and spent $12000 for a new roof for the office building she owns. Computer, desk, legal/incorporation fees, roof, purchases she can expense in 2018 without limitations.
Explanation:
Wendy is a financial planner who began his business in 2018. She purchased computers, desks, paid legal/incorporation fees, and also spent money for a new roof for the office building.
All these purchases are already paid by him in the running year. So he does not have to worry about their limitation at least in 2018. These are mostly one time purchases that would need only maintenance in years, or he might have to pay only for the renewal of the legal/incorporation. Otherwise there would be no limitation on him in 2018 at least.
Learn more about Purchase expense without limitation at:
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Answer:
a. True
Explanation:
The uterine family represents the individual mother and mother children. in other way, it is you, your mother, your siblings, etc
The Uterine family implies the family description that shows the women have the children but they are not officially recorded as a members of the similar lineage
Therefore the given statement is true
Lack communication, ignorance, bad behavior
Answer:
The correct anwer is A.
Explanation:
Giving the following information:
Cost of goods manufactured= $520,000
Ending work in process= $70,000
Raw materials used in the production of $80,000
Direct labor= $140,000
Allocated manufacturing overhead of $240,000
To calculate the beginning work in process, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
520,000= beginning WIP + 80,000 + 140,000 + 240,000 - 70,000
beginning WIP= 130,000