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Mickey Mouse is planning to open a Toyshop at Playground Street. Help him to calculate the different costs of
the shop. According to the expectations the wage of employees will be 250 dollars a year, the rental rate for a
year is 400. To deliver the toys they need a car for 1100 dollars and they are planning to use it for 5 years.
Mickey calculated that the Economic profit will be -50 dollars and the Accounting profit will be 350 dollar. Give
the answers in dollars and use "-"sing if it is needed.
Marked out of
7.00
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How much is the accounting cost?
How much is the economic cost?
How much is the normal profit?
How much is the total revenue?
How much is the explicit cost?

Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

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