subject
Business, 25.06.2019 00:30 igtguith

Suppose a young chef opened her own restaurant. to do so, she quit her old job that paid her $45,500 per year, cashed in $33,000 in treasury bills that yielded 5.0% annual interest to buy equipment for the restaurant, and took over a store she owned that used to rent for $1000 per month. her expenses during the first year totaled $50,000 for food, $35,000 for wait staff and part-time kitchen , and $6000 for utilities (gas, electricity, and water). her total revenue during her first year was $120,000, which the local chamber of commerce labeled "amazing for a first year restaurant." what were her economic profits for the year? show all work. how do her economic profits compare with her accounting profits? explain and show all work. if these data did not change, do you think she will stay in the restaurant business? explain why or why not

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 22:30
Acompany determined that the budgeted cost of producing a product is $30 per unit. on june 1, there were 80,000 units on hand, the sales department budgeted sales of 300,000 units in june, and the company desires to have 120,000 units on hand on june 30. the budgeted cost of goods sold for june would be
Answers: 1
question
Business, 21.06.2019 23:30
Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.
Answers: 3
question
Business, 22.06.2019 04:30
Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income ax this year
Answers: 1
question
Business, 22.06.2019 09:00
Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit
Answers: 1
You know the right answer?
Suppose a young chef opened her own restaurant. to do so, she quit her old job that paid her $45,500...
Questions
question
Physics, 10.12.2021 07:20
question
Mathematics, 10.12.2021 07:20
question
Computers and Technology, 10.12.2021 07:20
Questions on the website: 13722361