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Luci and Sherry have decided to lease some newly built premises for the purpose of opening a seafood outlet. They intend to provide a wide range of different products, including a variety of seafood for sale and take-away fish and chips.
Question 1: Discuss the types of economic decisions that they will be required to make, and the information that they will need to make those decisions. Distinguish non-economic and economic information, identify non-economic decisions that they will also be required to make. Discuss why Luci and Sherry may require the services of an accountant.
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Mascot Co. Unadjusted Trial Balance For the Month Ending July 31, 2016 Debit Balances Credit Balances Cash 36,000 Accounts Receivable 112,600 Prepaid Insurance 18,000 Equipment 375,000 Accounts Payable 53,300 Salaries Payable 7,500 Samuel Parson, Ide..
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It is required to have the equivalent of $5,000,000 of today’s money available in 25 years from now. Inflation is expected to average 4% per year over the next 25 years. How much money needs to be available in 25 years from now.
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