Obj. Fees
Dividends + Earned - Expenses
EX 1-13 Nature of transactions
Teri West operates her own catering service. Summary financial data for July are presented in
tion on the equation. Each increase and decrease in stockholders' equity, except transaction
equation form as follows. Each line designated by a number indicates the effect of a transac-
(5), affects net income.
Assets
Liabilities +
Stockholders' Equity
Accounts
Cash + Supplies + Land
Common Retained
Payable + Stock Earnings
Bal. 40,000
3,000 82,000 7,500 50,000
67,500
1. +71,800
2. -15,000
+15,000
-47,500
3. -47,500
4.
+1,100
+1,100
5. -5,000
-5,000
6. -4,000
-4,000
-1,500
7.
-1,500
Bal. 40,300 2,600 97,000
71,800 -49,000
4,600 50,000 67,500 -5,000
+71,800

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: treadmill exercise bike total sold 185 123 service contracts 67 55 the store can only sell a service contract on a new piece of equipment. of the 185 treadmills sold, 67 included a service contract and 118 did not.

According to this excerpt, a key part of our national security strategy is