Business, 07.04.2020 21:30 kadinmorgan
Musashi lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $704,000 from selling pianos. Of this sales revenue, he must pay the manufacturer a wholesale cost of $404,000; he also pays wages and utility bills totaling $286,000. He owns his showroom; if he chooses to rent it out, he will receive $3,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Musashi does not operate this piano business, he can work as an accountant, receive an annual salary of $20,000 with no additional monetary costs, and rent out his showroom at the $3,000 per year rate. No other costs are incurred in running this piano business.1) Identify each of Yakov's costs in the following table as either an implicit cost or an explicit cost of selling pianos. Explicit or Implicit?The wages and utility bills that Yakov pays. The salary Yakov could earn if he worked as a paralegal. The wholesale cost for the pianos that Yakov pays the manufacturer. The rental income Yakov could receive if he chose to rent out his showroom. 2) Complete the following table by determining Yakov's accounting and economic profit of his piano business. Profit (dollars)Accounting Profit Economic Profit
Answers: 2
Business, 22.06.2019 02:50
Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of
Answers: 3
Business, 22.06.2019 07:50
Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?
Answers: 1
Business, 22.06.2019 11:40
If kroger had whole foods’ number of days’ sales in inventory, how much additional cash flow would have been generated from the smaller inventory relative to its actual average inventory position? round interim calculations to one decimal place and your final answer to the nearest million.
Answers: 2
Business, 22.06.2019 16:40
Job applications give employers uniform information for all employees,making it easier to
Answers: 1
Musashi lives in Philadelphia and runs a business that sells pianos. In an average year, he receives...
Mathematics, 05.05.2020 21:09
Computers and Technology, 05.05.2020 21:09
Physics, 05.05.2020 21:09
Computers and Technology, 05.05.2020 21:09
Mathematics, 05.05.2020 21:09
Health, 05.05.2020 21:09