Javier and Keisha loved breakfast so much they decided to leave their jobs to start...
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Javier and Keisha loved breakfast so much they decided to leave their jobs to start their own restaurant, opening Javi and Keishas Coffee and Quiches. Javi left his job which paid a $ annual salary while Keisha left her $ annual salary job. They both work fulltime at the restaurant without drawing a salary, rather keeping any profits the restaurant may or may not earn. Javi and Keisha invested $ of their own money to start the cleverly named restaurant. This capital invested into their new business would have otherwise earned them $ in interest income, had they left it in their high yield savings account paying annually. During the first year of operations Javi and Keishas Coffee and Quiches earned $ in total revenue. Expenses for running the restaurant included labor costs of $ food and supplies costs of $ and $ spent on rent, electricity, and utilities. What was Accounting Profit and Economic Profit for Javi and Keishas Coffee and Quiches over their first year in business?
Javier and Keisha loved breakfast so much they decided to leave their jobs to start their own restaurant, opening Javi and Keishas Coffee and Quiches. Javi left his job which paid a $ annual salary while Keisha left her $ annual salary job. They both work fulltime at the restaurant without drawing a salary, rather keeping any profits the restaurant may or may not earn.
Javi and Keisha invested $ of their own money to start the cleverly named restaurant. This capital invested into their new business would have otherwise earned them $ in interest income, had they left it in their high yield savings account paying annually.
During the first year of operations Javi and Keishas Coffee and Quiches earned $ in total revenue. Expenses for running the restaurant included labor costs of $ food and supplies costs of $ and $ spent on rent, electricity, and utilities.
What was Accounting Profit and Economic Profit for Javi and Keishas Coffee and Quiches over their first year in business?
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