Answer:
Accounting Profit = $100
Economic profit = $80
Explanation:
Given that
Sales = 10
Cost = $10
The calculation of accounting profit and economic profit is shown below:-
Accounting Profit = Sales × Costs
= 10 × $10
= $100
For calculating accounting profit we simply multiply sales with costs.
Economic profit = Accounting profit - Opportunity cost
= $100 - 2 × $10
= $80
For calculating the economic profit we simply deduct the opportunity cost from accounting profit.
Since Alex and Bailey are partners and they will be shutting down the partnership. the debts should be settled by both. they will have to sacrifice their personal assets in doing so
Yes, those who are not currently active in the game, even a substitute must wait until they are cleared to enter the game to take the throw-in. There are only a certain amount of players allowed to be on the court at any given time and therefor they must make sure the person they are substituting for has left.
Answer:
The next task for Nathan is likely to be:
- Preparing the store's balance sheet.
- Also to prepare other major financial statements.
Explanation:
Here, it is given that Nathan works as an accountant for a mid sized retail store. His tasks completed are a trial balance which has resulted in neither of the unexpected problems.
So, the next task for Nathan will be :
- preparing the store's balance sheet.
- Preparation of other major financial statements for the store.
The reports and all the major financial statements which are prepared by the accountants gives all the necessary informations that are used both in outside and the inside of the organisations for various decision making.
