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BigorU [14]
2 years ago
12

Explain the importance of having a business plan

Business
1 answer:
kobusy [5.1K]2 years ago
4 0

It'll help you set your priorities, and your main focus on what you'll be doing or where you'll be going in the near future.

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On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life
Lelu [443]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

On October 1, 2014, Mann Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= 60,000/5=12,000

3 months depreciation= 12,000/12*3= 3,000

3 0
3 years ago
Type your summary here. Use the Internet to find an article that presents a forecast of the economy's performance in the next th
larisa [96]

Explanation:

an entrepreneur is always creative have ideas make best decision thinks before decision

7 0
3 years ago
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is​ $52,000 per​ year, the explicit costs of her busines
koban [17]

Answer:

D. ​$38,000

Explanation:

The formula to compute the accounting profit is shown below:

Accounting profit = Annual revenue - Explicit cost

                             = $52,000 - $14,000

                             = $38,000

It shows a relationship between the annual revenue and the explicit cost. The difference between these two is known as accounting profit.

8 0
3 years ago
On September 1, 2019, Westwood Builders borrowed $200,000 from Colorado State Bank by issuing a 7-month, $200,000, 6% note. West
attashe74 [19]

Answer:

A.

Notes Payable 200,000

Interest Payable 7,000

Cash 207,000

Explanation:

The Journal entry is shown below:-

Notes payable Dr,       $200,000  

Interest payable Dr,     $7,000  

       To Cash                        $207,000  

(Being pay off the note and interest at maturity is recorded)

Therefore for recording the pay off the note and interest at maturity we simply debited the notes payable and interest payable as it decreases the liability and we credited the cash as it also decreasing the assets.

7 0
3 years ago
Potential competitors may enter an industry and begin to take market share from existing companies. What would be one of the lar
ludmilkaskok [199]

Production costs are high and require high volumes to achieve profitability.

<h3><u>Explanation:</u></h3>

One of the largest challenges that will be faced by the potential competitors when they try to enter an industry will be that they will face that cost of production will be higher and they would require higher volumes for achieving profits. When a company is new to an industry there will be competitors who are already established well on that particular industry.

The challenges and the opportunity that are in existence will be well known to the existing competitors. They already have buyers and suppliers chain. Hence, the new entrant will have higher production cost and also they require higher volumes to achieve profits.

8 0
3 years ago
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