Quiz 2

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Unformatted text preview: Quiz #2 Position your responses, including "0" zeros, according to the Accounts Template that we use inclass. Start with $100 in cash financed by $50 from PaidinCapital and a $50 loan @ 10% interest due in subsequent periods. Period #1 Purchase 10 items @ $5 each on account. Presell 5 items for $ 10 each cash. Hire an Intern who will assist you in Period #2. The helper's salary is $20, to be paid in Period #3. Period #2 Deliver the 5 items that were presold. Sell 5 items for $10 each on account. Period #3 Pay your Vendor. Collect your Receivables. Pay your Helper. Pay your investors a $25 dividend....
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This note was uploaded on 05/04/2010 for the course ECON econ 4 taught by Professor Willoughby during the Spring '09 term at UCSD.

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