1 Tri Fecta, a partnership, had revenues of $368,000 in its first year of operations The partnership has not collected on $45,900 of its sales and still owes $39,500 on $175,000 of merchandise it purchased There was no inventory on hand at the end of the year The partnership paid $31,800 in salaries The partners invested $45,000 in the business and $22,000 was borrowed on a five year note The partnership paid $2,420 in interest that was the amount owed for the year and paid $9,300 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 2 Today, Thomas deposited $120,000 in a 3 year, 12 CD that compounds quarterly What is the maturity value of the CD N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1 03000 0 97087 1 0000 0 97087 1 0300 1 00000 2 1 06090 0 94260 2 0300 1 91347 2 0909 1 97087 3 1 09273 0 91514 3 0909 2 82861 3 1836 2 91347 4 1 12551 0 88849 4 1836 3 71710 4 3091 3 82861 5 1 15927 0 86261 5 3091 4 57971 5 4684 4 71710 6 1 19405 0 83748 6 4684 5 41719 6 6625 5 57971 7 1 22987 0 81309 7 6625 6 23028 7 8923 6 41719 8 1 26677 0 78941 8 8923 7 01969 9 1591 7 23028 9 1 30477 0 76642 10 1591 7 78611 10 4639 8 01969 10 1 34392 0 74409 11 4639 8 53020 11 8078 8 78611 11 1 38423 0 72242 12 8078 9 25262 13 1920 9 53020 12 1 42576 0 70138 14 1920 9 95400 14 6178 10 25262 13 1 46853 0 68095 15 6178 10 63496 16 0863 10 95400 14 1 51259 0 66112 17 0863 11 29607 17 5989 11 63496 15 1 55797 0 64186 18 5989 11 93794 19 1569 12 29607 16 1 60471 0 62317 20 1569 12 56110 20 7616 12 93794

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 30, 2024

1. Tri Fecta, a partnership, had revenues of $368,000 in its first year of operations. The partnership has not collected on $45,900 of its sales

1. Tri Fecta, a partnership, had revenues of $368,000 in its first year of operations. The partnership has not collected on $45,900 of its sales and still owes $39,500 on $175,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $31,800 in salaries. The partners invested $45,000 in the business and $22,000 was borrowed on a five-year note. The partnership paid $2,420 in interest that was the amount owed for the year and paid $9,300 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.

Today, Thomas deposited $120,000 in a 3-year, 12% CD that compounds quarterly. What is the maturity value of the CD?

N	FV $1	PV $1	FVA $1	PVA $1	FVAD $1	PVAD $1
1	1.03000	0.97087	1.0000	0.97087	1.0300	1.00000
2	1.06090	0.94260	2.0300	1.91347	2.0909	1.97087
3	1.09273	0.91514	3.0909	2.82861	3.1836	2.91347
4	1.12551	0.88849	4.1836	3.71710	4.3091	3.82861
5	1.15927	0.86261	5.3091	4.57971	5.4684	4.71710
6	1.19405	0.83748	6.4684	5.41719	6.6625	5.57971
7	1.22987	0.81309	7.6625	6.23028	7.8923	6.41719
8	1.26677	0.78941	8.8923	7.01969	9.1591	7.23028
9	1.30477	0.76642	10.1591	7.78611	10.4639	8.01969
10	1.34392	0.74409	11.4639	8.53020	11.8078	8.78611
11	1.38423	0.72242	12.8078	9.25262	13.1920	9.53020
12	1.42576	0.70138	14.1920	9.95400	14.6178	10.25262
13	1.46853	0.68095	15.6178	10.63496	16.0863	10.95400
14	1.51259	0.66112	17.0863	11.29607	17.5989	11.63496
15	1.55797	0.64186	18.5989	11.93794	19.1569	12.29607
16	1.60471	0.62317	20.1569	12.56110	20.7616	12.93794