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viktelen [127]
3 years ago
14

Tri Fecta, a partnership, had revenues of $362,000 in its first year of operations. The partnership has not collected on $46,400

of its sales and still owes $38,600 on $200,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $28,100 in salaries. The partners invested $42,000 in the business and $30,000 was borrowed on a five-year note. The partnership paid $2,700 in interest that was the amount owed for the year and paid $9,900 for a two-year insurance policy on the first day of business. Ignore income taxes. Compute the cash balance at the end of the first year for Tri Fecta.
Business
1 answer:
OverLord2011 [107]3 years ago
8 0

Answer:  $185,500

Explanation:

Total cash received = Sales revenue - Accounts receivable + owner's investment + amount borrowed

                                 = $362,000 - $46,400 + $42,000 + $30,000

                                 = $387,600

Total cash disbursement = Merchandise purchased - Accounts payable + Salaries + Interest + Insurance

                                          = $200,000 - $38,600 + $28,100 + $2,700 + $9,900

                                          = $202,100

Ending cash balance = Total cash received - Total cash disbursement

                                   = $387,600 - $202,100

                                   = $185,500

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The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Mul
azamat

Answer:

Proportion of sales of each department.

Explanation:

Advertising expense directly effects the sales of the business. As the campaign is made store-wide sales and it does not directly traceable to any specific department. It need proper basis for allocation of expenses. The proportion of sales of each department is the most suitable basis from all of the given options because the share of benefit from the campaign is received in the form of sale. A campaign might mostly effects the sales.

3 0
3 years ago
Sammy salt is an exempt employee and earns $275,000 per year. if sammy was paid on a weekly basis, what would his gross pay be?
egoroff_w [7]

Sammy salt makes $275,000 a year as an exempt employee. if Olivia was paid on a biweekly basis her gross pay would be $5,288.46.

A person's gross pay is their total earnings for a certain time period before any deductions are made. Gross compensation is determined before any deductions, such as those for required taxes and Medicare contributions, employer-provided health insurance, or retirement plans. The difference between the gross pay definition and the net pay definition is that the former excludes an employee's take-home compensation.

Employee's gross pay is their salary before any payroll deductions such as taxes, benefits, and other expenses are made. Net pay, often known as take-home pay, is the amount that is left after all withholdings have been taken into account.

To know more about Gross Pay refer to: brainly.com/question/14690804

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5 0
1 year ago
Consider these long-term investment data: • The price of a 10-year $100 par zero-coupon inflation-indexed bond is $84.49. • A re
AleksAgata [21]

Answer:

Annual rate 0.017

Explanation:

Computation of the annual rate on the real bond.

Using this formula

Annual rate = Par Zero coupon inflation index/(1+r) ^Numbers of years =Inflation-indexed bond

Let plug in the formula

Annual rate=100 / (1 + r) ^10 = 84.49

Annual rate= (100 / 84.49)^1 /10 − 1

Annual rate=(1.18357)^0.1-1

Annual rate=1.016-1

Annual rate=0.017

Therefore the annual rate of return will be 0.017

3 0
2 years ago
Read 2 more answers
Cruiseline offers nightly dinner cruises off the coast of​ Miami, San​ Francisco, and Seattle. Dinner cruise tickets sell for $
sertanlavr [38]

Answer:

a. Contribution margin per passenger ($50-$20) = $30

b. Contribution margin ratio (30/50) = 60%

c. Operating Income  (390000-270000) = $120,000

d. Operating Profit = $42,000

Explanation:

a. Contribution formula = Sale - Variable Cost

Sale price per passenger = $50

Variable Cost per passenger = $20

Contribution margin per passenger ($50-$20)  = $30

b. Contribution Margin ratio formula = Contribution/Sale

Sales per passenger = 50

Contribution per passenger = 30

Contribution margin ratio (30/50) = 60%

c. Operating profit = Contribution margin- Fixed Cost

Monthly sale total for 13000 passenger

Sale per passenger = $50

Total sale for 13000 passenger 13000*50 = $650,000

Contribution Margin per passenger =$30

Total Contribution margin for 13000 passenger = 13000*30 =                                    $390,000

Less: Fixed Cost = 270,000

Operating Income  (390000-270000) = $120,000

d. Contribution margin formula= (Sale x Contribution margin ratio)

Contribution margin = (520000*60%) = $312,000

Less: Fixed Cost = 270,000

Operating Profit = $42,000

3 0
3 years ago
Read 2 more answers
3. Balancing utility and price Suppose Tim has to choose between purchasing high-definition televisions and juice. Which of the
Rom4ik [11]

Answer: Option (C) is correct.

Explanation:

The following rule should be use to choose the optimal quantities of two goods:

\frac{MU\ of\ Juice}{Price\ of\ Juice} =\frac{MU\ of\ HDTVs}{Price\ of\ HDTVs}

Marginal utility refers to the utility that a consumer can get from the additional unit of a commodity.

\frac{MU\ of\ Juice}{MU\ of\ HDTVs} =\frac{Price\ of\ Juice}{Price\ of\ HDTVs}

From the above equation, we can predict that marginal utility from the last TV is greater than the marginal utility obtained from the last gallon of juice. We know that Juice is less expensive as compared to the price of TV.

8 0
3 years ago
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