How much did jake accountant allocate for depreciation

Reference no: EM13299240

Jake Smith opened his Balinese coffee shop business in downtown Boise on January 1st 2010. On December 31st, 2010, he sat down with his accountant to figure out how his business had done in its first year and heaved a sigh of relief when his accountant reported that his EBT came to $20,000. Revenues, at $1,050,000 looked good. His expenses were as follows:

Salaries and benefits paid to employees $210,000
Jake's own salary $100,000
Supplies (coffee, tea, milk, pastries, etc.) $620,000
Cost of Restaurant grade coffee machine $30,000
Miscellaneous operating costs $44,000
Interest on loan $12,000

How much did Jake's accountant allocate for depreciation and amortization?

Reference no: EM13299240

Questions Cloud

Find the mans upward acceleration : To hoist himself into a tree, a 72.0-kg man ties one end of a nylon rope around his waist and throws the other end over a branch of the tree. determine the man's upward acceleration

Prepare a make or buy analysis : Prepare a make or buy analysis showing the annual advantage or disadvantage of accepting an outside supplier's offer.

What is the net cash used in investing activities : Also, the firm had a net inflow of $ 300,000 from the sale of assets. What is the net cash used in investing activities?

Find discharge flowing over a rectangular sharp crested wire : Find the discharge flowing over a rectangular sharp crested wire, in GPM, which has a width of 9.9 feet and a discharge coefficient of 3.24, if the head above the crest is 1.74 feet.

How much did jake accountant allocate for depreciation : How much did Jake's accountant allocate for depreciation and amortization?

The demand for voice calls has a price-elasticity : At an Asian mobile service provider, the demand for voice calls has a price-elasticity of demand (PED) of -0.085 (or if we take the absolute value, PED = 0.085) and cross-price elasticity (CED) with respect to the price of short message service

Evaluate models and concepts affecting pricing decisions : Task one Critically evaluate the models and concepts affecting the pricing decisions taken by organisations, critically reflecting upon their usefulness

Detremine the cfat in year 0 for the challenger and defender : The defender had a first cost of $300,000, but its market value now is only $100,000. It has chargeable expenses of $120,000 per year and no expected salvage value. To simplify calculations, assume that SL depreciation was charged at $60,000 per y..

Compute the weighted average cost of capital : Option b: a new machine that would yield a 15% return but would cost 17% to finance through common equity.

User Account

All Pages