On July 7, 2007, Dr. Jennifer Dejong established Second Opinion, a medical practice organized as a proprietorship.
Question:
Dr. Tomlin: Jennifer, good to see you again. Why didn't you call when you were in Chicago? We could have had dinner together.
Dr. Dejong: Actually, I never made it to Chicago this year. My husband and kids went up to our Aspen condo twice, but I got stuck in Boston. I opened a new consulting practice this July and haven't had any time for myself since.
Dr. Tomlin: I heard about it . . . Second . . . something . . . right?
Dr. Dejong: Yes, Second Opinion. My husband chose the name.
Dr. Tomlin: I've thought about doing something like that. Are you making any money? I mean, is it worth your time?
Dr. Dejong: You wouldn't believe it. I started by opening a bank account with $50,000, and my December bank statement has a balance of $140,000. Not bad for six months-all pure profit.
Dr. Tomlin: Maybe I'll try it in Chicago! Let's have breakfast together tomorrow and you can fill me in on the details.
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The difference in the two bank balances 90000 140000 50000 may not be pure profit from an accounting ...View the full answer
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