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Robert James worked as a real estate agent for Simms Realty for 12 years. His annual income is approximately $120,000 per year. Robert is considering establishing his own real estate agency. He expects to generate revenues during the first year of $3 million. Salaries paid to her employees are expected to total $2 million. Operating expenses(i.e., rent, supplies, utility services) are expected to total $300,000. To begin the business, Robert must borrow $550,00 from the bank at an interest rate of 15 percent. Equipment will cost Robert $75,000. At the end of one year, the value of this equipment $40,000, even though the depreciation expense for tax purposes is only $8,000 during the first year.
Question a. Determine the (pre-tax) accounting profit for this venture.
Question b. Determine the (pre-tax) economic profit for this venture.
Question c. Which of the cost for this firm are explicit and which are implicit?
Processors Ltd. uses three different products - X, Y and Z to produce its major product line. Each kg of the raw material costs $2.00 for X, $3.75 for Y and $5.20 for Z.
Does the restaurant make or buy soups and deserts? Based on your interview, write a short report that explains why the restaurant makes or buys each of these
Prepare a sales budget, by month and in total, for the third quarter. (Show your budget in both units and dollars.) Also prepare a schedule of expected cash collections, by month and in total, for the third quarter.
Prepare the required journal entries for 201 4 and 2015, and indicate whether each entry should be made to an unrestricted or a temporarily restricted fund.
Product A requires 2 machine hours and Product B requires 4 machine hours. How much is the contribution margin per unit of limited resource for each product?
Prepare an income statement for Allstar for the past month - Briefly explain why Allstar's income statement has no line item for Cost of Goods Sold.
What The Electronic Divisions return on investment is? The Electronics Division of Anton Company reports the results for the current year
Compute the equivalent units of production for each of the preceding departments using the weighted average method. determine Weighted Average Method
Determine What other options does Cedarburg have to price its products? What internal and external factors should they consider?
A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
Terra Cotta Designs manufactures custom tiles.
Prepare a monthly cash budget and supporting schedules for March, April, and May. Input all amounts as positive values except overall cash decrease
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