Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kaitlyn was earning $66,000 a year as a sales representative for a firm. She quit her job to open her own business. She set up

Kaitlyn was earning $66,000 a year as a sales representative for a firm. She quit her job to open her own business. She set up her business in her a building she owns and had previously been renting to Mariana for an annual rent of $15,000. During the year, Kaitlyn hired an assistant at a salary of $44,000 a year, and she spent $120,000 on materials and $15,000 on utilities. She earned total revenue of $450,000 during the year. Refer to the data above. Kate's implicit costs amount to: Question 4 options: 66,000 $81,000 185,000 S141,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

7th Edition

978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018

More Books

Students also viewed these Accounting questions

Question

Here are sketches of four electron orbitals: A B C 0 0 D

Answered: 1 week ago

Question

If M = 7, s = 2, and X = 9.5, what is z?

Answered: 1 week ago