Tom quit his $65,000 a year corporate lawyer job to open up his own law practice. in tom's first year in business his total revenue equaled $150,000. tom's explicit cost during the year totaled $85,000. what is tom’s economic profit for his first year in business?
a) $0
b) $85, 000
c) $20, 000
d) $65, 000
Answers: 1
Business, 21.06.2019 20:40
Maria am corporation uses the weighted-average method in its process costing system. the baking department is one of the processing departments in its strudel manufacturing facility. in june in the baking department, the cost of beginning work in process inventory was $4,880, the cost of ending work in process inventory was $1,150, and the cost added to production was $25,200. required: prepare a cost reconciliation report for the baking department for june.
Answers: 2
Business, 22.06.2019 16:30
On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.
Answers: 1
Business, 22.06.2019 18:30
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Answers: 2
Tom quit his $65,000 a year corporate lawyer job to open up his own law practice. in tom's first yea...
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