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Sati [7]
3 years ago
6

last year, jarod left a job that pays $80,000 to run his own bike repair shop. jarod’s shop charges $65 for a repair, and last y

ear the shop performed 4,000 repairs. jarod’s production costs for the year included rent, wages, and equipment. jarod spent $60,000 on rent and $120,000 on wages for his employees. jarod keeps whatever profit the shop earns but does not pay himself an official wage. jarod used $25,000 of his savings to buy a machine for the business. his savings were earning an annual interest rate of 6 percent.
Business
1 answer:
irinina [24]3 years ago
6 0

The accounting profit of Jarod based on the information regarding rent, wages, etc given will be $55000.

It should be noted they the formula for calculating accounting profit will be:

= Total revenue - Explicit cost

Total revenue will be:

= $65 × 4000

= $260,000

Explicit cost is the direct cost that a business spends. This will be:

= $60000 + $120000 + $25000

= $205,000

Therefore, the accounting profit will be:

= $260000 - $205000

= $55,000

The accounting profit is $55000.

Read related link on:

brainly.com/question/25373796

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As a businessperson planning to open a new small business, you know that the business plan should not contain
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Answer:

Pages and pages of detailed facts and figures

Explanation:

Endless pages of detailed fact and figures are not necessary for a new small business a concise and financial information should suffice.

There are three primary parts to a business plan:

The first is the business concept, where you discuss the ibusiness you are in to, your business structure, your particular product or service, and how you plan to make your business a success.

The second is the marketplace section, in which you describe and analyze potential customers (target market): who and where they are, what makes them buy and so on. Your unique niche and selling point Here, you also describe the competition and how you'll position yourself to beat it.

The financial section contains your income and cash flow statement, balance sheet and other financial ratios, such as break-even analyses. This part may require help from your accountant and a good spreadsheet software program.

3 0
3 years ago
the percent of sales method for estimating bad debts uses only income statement account balances to estimate bad debts. group st
crimeas [40]

The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.

<h3>What is the percent of sales method?</h3>

The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.

The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.

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6 0
1 year ago
____, or providing information supporting their policy positions to legislators, is a visible role played by interest groups. in
Eva8 [605]
Lobbying or providing information supporting their policy positions to legislators, is a visible role played by interest groups. 
Lobbying are efforts that are directed primarily at the national level; committees of Congress that consider legislation, and executive departments. Those involved depend on their personal relationship with members of Congress and the executive branch, which are based on keeping in regular contract. 
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3 years ago
______ effect happens when the place a product was manufactured influences how consumers perceive the product.
stiks02 [169]

Effect happens when the place a product was manufactured influences how consumers perceive the product.  Country of Origin

What benefits do consumer product firms derive by marketing internationally?

Competition with other companies can be maintained. Sales and profits can be enhanced. Life cycles of products can be extended.

Country of origin:

Country of origin represents the country or countries of manufacture, production, design, or brand origin where an article or product comes from. For multinational brands, CO may include multiple countries within the value-creation process.

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8 0
2 years ago
About 13 to 16 guests out of every 100 are purposefully out to scam us and get something for free.
antoniya [11.8K]

Answer:

True

Explanation:

2% out of 100 guest purposefully scam.

3 0
4 years ago
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