Purchased goods on credit at a cost of $500
Alina has decided to follow her passion opening a dance studio to teach ballet lessons. She will be taking a pay cut to follow her dream. She makes an annual salary of $175,000 as a stock broker, but expects to only earn $80,000 a year teaching dance. To run her business, she will need to lease a space, purchase a dance floor and mirrors, hire a secretary, and and pay for some advertising. The studio lease will cost her $18,000 annually, a dance floor and mirrors cost $11,000, and advertising is $800. She expects to pay a part-time secretary $20,000 a year. What is the total amount for Alina's explicit expenses?
Total amount for Alina's explicit expenses are $49,800
Explicit Expenses all the expenses paid from the pocket. It includes wages or salaries, rent and material purchased etc. the Implicit cost is the opportunity cost of the funds / resources already have. Alina's Explicit expenses are those which she paid from her pocket, which are:
Studio lease cost $18,000
dance floor and mirrors cost $11,000
Advertising cost $800
Part-time secretary salary $20,000
Total Explicit Expense $49,800
A property is listed for sale at $235,000. A buyer's offer of $220,000 is rejected by the seller. Six months later, the seller reduces the price to $225,000. Another buyer offers $210,000, and the seller accepts because the seller has found another house to buy and needs to close quickly. The property is subsequently appraised at $215,000. Which of these figures MOST accurately represents the property's market price?A. 210,000B. 215,000C. 225,000D. 235,000
210,000 figures MOST accurately represent the property's market price. Thus option A is correct.Who is buyer?
A buyer, sometimes known as a purchasing agent, is in charge of buying products for a company. They are free to negotiate contracts with suppliers, looking into potential purchases, and taking inventory of the existing product line. 10
Consider this issue logically; even though the pricing was 235,000, it ultimately sold for 210000. As a result, the company's equity worth would increase to $200,000 Any enhanced property can be valued using the cost technique. It is the most trustworthy method for appraising special properties.
The projected land value, along with the sunk costs of the structure and other renovations, are added together using the cost model to offer a value indication. Therefore, option A is the correct option.
Learn more about buyer, Here:
You realize that many students who come to early morning hockey practice do not get up early enough to eat breakfast. You borrow $500 from your parents to start a bagel delivery service to the hockey rink in the early mornings. You are acting as______________.
Answer: An entrepreneur.
An entrepreneur is an individual that is identifies consumers needs and produces products/services to meet those needs. As described in the question I identified the need of the hockey players and started selling bagel to meet those needs, therefore am acting as an entrepreneur.