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To open a clothing repair shop, you need to carry out the following expenses: purchase of raw materials and materials - 50 thousand UAH. per year, the cost of equipment - 200 thousand UAH. (service life - 10 years), rental of premises - 3 thousand UAH. monthly, salary of employees - UAH 8.4 thousand. monthly, electricity - 18 thousand UAH. in year. For the amount of funds invested in production, it would be possible to receive an income of 7% per annum, as well as receive wages in a similar production - 30 thousand UAH. in year. Calculate accounting, economic and normal profit if the total income of the enterprise is 550 thousand UAH. in year

To open a clothing repair shop, you need to carry out the following expenses: purchase of raw materials and materials - 50 thousand UAH. per year, the cost of equipment - 200 thousand UAH. (service life - 10 years), rental of premises - 3 thousand UAH. monthly, salary of employees - UAH 8.4 thousand. monthly, electricity - 18 thousand UAH. in year. For the amount of funds invested in production, it would be possible to receive an income of 7% per annum, as well as receive wages in a similar production - 30 thousand UAH. in year. Calculate accounting, economic and normal profit if the total income of the enterprise is 550 thousand UAH. in year

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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To open a clothing repair shop, you need to carry out the following expenses: purchase of raw materials and materials - 50 thousand UAH. per year, the cost of equipment - 200 thousand UAH. (service life - 10 years), rental of premises - 3 thousand UAH. monthly, salary of employees - UAH 8.4 thousand. monthly, electricity - 18 thousand UAH. in year.

For the amount of funds invested in production, it would be possible to receive an income of 7% per annum, as well as receive wages in a similar production - 30 thousand UAH. in year.

Calculate accounting, economic and normal profit if the total income of the enterprise is 550 thousand UAH. in year

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