What is his economic profit from the sale

Assignment Help Accounting Basics
Reference no: EM131581329

Question - James withdrew $250,000 from his own savings account in order to purchase a hardware store. After one year, James sold the business for $320,000.

Assuming that James' bank always pays its savings account holders an annual interest rate of 15%, what is his economic profit from the sale of the hardware store?

Reference no: EM131581329

Questions Cloud

Derive the group members separate taxable incomes : Use the computational worksheet of Exhibit 8.3 to derive the group members' separate taxable incomes and the group's consolidated taxable income
Write one essay criminal justice administration : Write one essay in CJ100, Introduction to Criminal Justice Administration, any topic from the book criminal justice a brief introduction by frank schmallerger
Define the term programming as used in computing : Define the term programming as used in computing. Name the 3 main programming languages.
Define the quantity of labor supplied : Suppose that your college or university substantially raises the wages that it offers to pay students who tend computer laboratories, monitoring the equipment.
What is his economic profit from the sale : Assuming that James' bank always pays its savings account holders an annual interest rate of 15% what is his economic profit from the sale of the hardware store
Incorporate arrays into a visual basic program : For this assignment, you will complete exercise 3 on page 309, and exercise 1 and exercise 2 on page 328. In a MS Word file that contains your name
What role do jails play in american criminal justice sysyem : What role do jails play in the American criminal justice system. What are some issues that jail administrators face today
Which contributor to productivity would you identify : In any production process, when one factor limits what can be produced and other factors are in abundant supply.
Possession of cocaine with intent to distribute : Possess a controlled dangerous substance in sufficient quantity reasonably to indicate under all circumstances an intent

Reviews

Write a Review

Accounting Basics Questions & Answers

  On march 1 fixtures and equipment were purchased for 6000

on march 1 fixtures and equipment were purchased for 6000 with a downpayment of 1500 plus a 4500 note payable in one

  Preparation of income statement

Prepare an income statement for the year 2007 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement. Common shares outstanding for the year are 80,000 sha..

  What is the new growth theory

What is the new growth theory? How does the new growth theory differ from the growth theory developed by Robert Solow?

  Explain the significance of the return on equity ratio who

explain the significance of the return on equity ratio. who what category or type of financial statement users would

  Explain the effect on profitability if segment a eliminated

Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A.

  Describe its current methods of revenue collection

Examine your current, or former, workplace and describe its current methods of revenue collection. Does the organization collect cash directly from customers

  Compute gross profit earned by the company for each of the

anthony company uses a perpetual inventory system. it entered into the following purchases and sales transactions for

  Lewis is an unmarried law student at state university a

lewis is an unmarried law student at state university a qualified educational institution. last year lewis borrowed

  A key petroleum and liquefied gas exporter

Malaysia, a key petroleum and liquefied gas exporter, has seen uninterrupted export contractions in USD terms since October 2014, as prices for petroleum products and palm oils remain stuck at historical lows.

  What sources of information can an auditor use

How are the analytical procedures used in an audit engagement?  What premise underlies the use of analytical procedures in auditing?  What sources of information can an auditor use to develop expectations?  Please provide examples.

  Harrson co owns 20000 of the 50000 outstanding shares of

harrson co. owns 20000 of the 50000 outstanding shares of taylor inc common stock. during 2013 taylor earns 1200000 and

  Compute the companys break-even point

Reveen Products sells camping equipment. Compute the company's break-even point in number of lanterns and in total sales dollars

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd