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vlada-n [284]
3 years ago
8

Tri Fecta, a partnership, had revenues of $364,000 in its first year of operations. The partnership has not collected on $46,700

of its sales and still owes $38,000 on $175,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $33,100 in salaries. The partners invested $48,000 in the business and $27,000 was borrowed on a five-year note. The partnership paid $2,430 in interest that was the amount owed for the year and paid $8,900 for a two-year insurance policy on the first day of business. Ignore income taxes.Compute the net income for the first year for Tri Fecta
A. $189,000
B. $155,900
C.$149,020
D.$233,430
Business
1 answer:
Nimfa-mama [501]3 years ago
3 0

Answer:

C

Explanation:

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Given the following changes what is the net effect on cash? (1) Accounts Receivables increases by $150; Inventory decreases by $
Karolina [17]

Answer:

Net Cash Increase of $115

Explanation:

Receivable Increases by $150 means a cash outflow in receivable by $150 because Increase in Receivable indicates that there are more sale on credit is made than cash received from the customers. So, the outflow in the receivable section is more than the inflow.

Inventory Decreases by $95 means the inventory sold during the period is more than purchases / manufactured. It result in cash inflow as cash is not being held in the form of inventory.

Accounts Payable increases by $225 means that company is making less payment to its suppliers, so that its balance has been increase. Company made more purchases than payment made to suppliers. Net cash Inflow is observed from this.

Common dividend payment of $55 means a direct cash outflow because actual cash has been paid during the year.

Net Effect on Cash = Cash inflows - Cash outflows

Net Effect on Cash = ( Inventory decrease + Accounts Payable increase ) - ( Accounts Receivables increase + Common dividend payment )

Net Effect on Cash = ( $95 + $225 ) - ( $150 + 55 )

Net Effect on Cash = $320 - $205

Net Effect on Cash = $115

Net Cash Increase of $115

6 0
3 years ago
A budget is used to do which of the following
Leya [2.2K]

Answer:

A budget is a financial plan used to estimate future income and expenses. The budgeting process may be carried out by individuals or by organizations. Budgets help an entity determine whether it can continue to operate with its projected income and expenses.

Explanation:

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6 0
3 years ago
On March 1, Pimlico Corporation (a U.S.-based company) expects to order merchandise from a supplier in Sweden in three months. O
luda_lava [24]

Answer and Explanation:

The computation is shown below:

a. As a premium expense

= ($0.460 - $0.44) × 695,000

= $13,900

b. As a difference of 3 months spot rate and spot rate

= ($0.455 - $0.44) × 695,000

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7 0
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Which of the following is a false completion of the following: "Congress has the authority to declare war..."
Yakvenalex [24]

Answer: E. and exercise this authority with great frequency

Explanation:

The Congress has the authority to declare war but has not been exercising this authority with great frequency most times they are reluctant to declare war and has only declared eleven wars in the history of America.

They have rarely exercise this power one of the reasons being to cut down funding of war, they preferred to authorize presidential military action without a declaration of war.

8 0
3 years ago
Companies like my​ gym, which seek to do business in new markets for manufacturing​ and/or marketing​ purposes, have many potent
jeka94

They have many potential <u>Entry Modes</u> at their disposal.

<h3>What is Entry Mode?</h3>

Foreign market entrance modes in international trade are the methods through which a corporation can expand its services into a non-domestic market.

Market entrance options are classified into two types: equity and non-equity. Export and commercial agreements are examples of non-equity mechanisms. Joint ventures and totally owned subsidiaries are examples of equity models. Different entrance mechanisms differ in three key ways:

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Therefore, Companies like my​ gym, which seek to do business in new markets for manufacturing​ and/or marketing​ purposes, have many potential​ <u>Entry Modes</u> at their disposal.

For more information on Entry Modes, refer to the given link:

brainly.com/question/17232113

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4 0
2 years ago
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