1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Taya2010 [7]
3 years ago
7

Charles has decided to open a​ lawn-mowing company. To do​ so, he purchases mowing equipment for ​$​, buys gasoline ​($ in gas i

s required to mow each​ yard), and pays a helper ​$ per yard. Prior to opening the lawn​ company, Charles earned ​$ as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned percent per year in the bank and that the mowing equipment depreciates at percent per year. Charles plans to mow yards per year. What is​ Charles's implicit costLOADING... of​ production? ​Charles's implicit cost of production is ​$ nothing per year. ​(Enter your response as an​ integer.)
Business
1 answer:
Masja [62]3 years ago
6 0

Answer: $8,600

Explanation:

Implicit cost is also known as the opportunity cost which means that it is the benefit of the next best alternative that was foregone when the current decision was made.

The implicit cost here is therefore:

The $8,000 that Charles could have been making as a lifeguard.

The interest per year he could have been earning on the $5,000 he used to buy mowing equipment.

The depreciation on the mowing equipment because depreciation is not an explicit cost but an implicit one.

= 8,000 + (2% * 5,000) + (10% * 5,000)

= 8,000 + 100 + 500

= $8,600

You might be interested in
Measures that help to solve economic problems are called ​
Romashka-Z-Leto [24]

Economic stimulus Answer:

Explanation:

8 0
3 years ago
Which statement about journal entries in QuickBooks Online is true?
IgorLugansk [536]

Answer:

C. Your client can’t create an Adjusting Journal Entry.

Explanation:

In QuickBooks Online Accountant you (the accountant) make the adjusting journal entries, not your clients. It is like saying that you operate yourself while your doctor drinks coffee besides your bed.

the other options are wrong:

A. A Journal Entry cannot be used to account for depreciation of an asset.  ⇒ FALSE, QuickBooks doesn't automatically depreciate an asset, the user must do this through journal entries.

B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online.  ⇒ FALSE, when using QuickBooks Online Accountant you can create adjusting entries just like any other regular entry.

7 0
3 years ago
Which of the following is a likely reason that a company would move its facility from one location to another?
Finger [1]
A likely reason that a company would move its facility from one location to another is that they would like to access various modes of transportation, such as boats and/or railroad.
7 0
3 years ago
The Whalers are interested in trading their star left tackle. He is a veteran and makes $1.6 million per year. They are consider
Romashka-Z-Leto [24]

Answer:

$1,800,000

Explanation:

The veteran player makes $1.6 million per year.

The new prayer will be paid $1 million per year.

the Savings per year will be

= $1, 600,000 - 1,000,000

= $ 600,000

The savings in three years will be

=$600,000 x 3

=$1,800,000

3 0
3 years ago
Which pre-test method involves asking the people being surveyed to rank the different ad concepts they see?
Sloan [31]
b order of merit test
5 0
3 years ago
Other questions:
  • Suppose the government of Spartania increased its spending by $900 million to fight a recession. If the government’s budget was
    8·1 answer
  • The proposition that an increase in the federal budget deficit caused entirely by a current tax cut has no effect on aggregate d
    12·1 answer
  • Full meaning of NeRsA
    15·2 answers
  • Diego is arrested for a theft committed by someone who stole his identity. A court orders his release, but due to a police error
    5·1 answer
  • Thrope, Inc. purchased 2,400 pounds of direct material at a price of $1.30 per pound. The standard price of the material is $1.4
    6·2 answers
  • Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the leas
    13·1 answer
  • Four years ago, a popular sandwich company used to sell 12-inch roast beef subs for only $5.49, but the same product now sells a
    14·1 answer
  • True or false: Merchandise inventory is generally converted to cash more quickly than accounts receivable.
    5·1 answer
  • Common stock holders: Group of answer choices have one vote in the election of how the company operates. are last in line to rec
    15·1 answer
  • Explain the types of FDI
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!