Author Question: Refer to Scenario 7.4 below to answer the question(s) that follow. SCENARIO 7.4: You own and are the ... (Read 11 times)

dbose · **on:** Apr 19, 2019

Question 1

Refer to Scenario 7.4 below to answer the question(s) that follow.

SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000. To start this business you invested an amount of your own capital that could pay you a $50,000 a year return.

Refer to Scenario 7.4. Your accounting profit last year was

◦ $20,000.
◦ $40,000.
◦ $70,000.
◦ $90,000.

Question 2

Refer to Scenario 7.4 below to answer the question(s) that follow.

SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000. To start this business you invested an amount of your own capital that could pay you a $50,000 a year return.

Refer to Scenario 7.4. Your accounting profit last year was

◦ $20,000.
◦ $40,000.
◦ $70,000.
◦ $90,000.

bigcheese9 · **Reply #1 on:** Apr 19, 2019

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