Yousef owns and manages a taco restaurant in Mexico whose annual revenue is $ 5 , 0
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Question:
Yousef owns and manages a taco restaurant in Mexico whose annual revenue is $ Annual expenses are as follows:
Labor $
Food and water
Electricity
Vehicle lease
Rent
Interest on loan for equipment
a calculate Yousefs annual accounting profit?
b Yousef could earn $ per year a cashiers however he prefers to run the taco restaurant. Yousef would be willing to paid up $ per year to run the taco restaurant rather than being cashiers. Is the taco restaurant making an economic profit? Should Yousef stay the taco restaurant business? Explain
c suppose the taco restaurant and expense remain the same, but cashiers earnings raise to per year. Is taco restaurant still making an economic profit? Explain?
d suppose Yousef can earn $ a year as a cashier, and he likes teaching just as well as running the Taco restaurant. How much additional revenue would the Taco have to collect each year to earn normal profit?
Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
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