Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tri fecta, a partnership, had sales revenues of $3

Tri Fecta, a partnership, had sales revenues of $360,000 in its first year of operations....

70.2K

Verified Solution

Question

Accounting

Tri Fecta, a partnership, had sales revenues of $360,000 in its first year of operations. The partnership has not collected on $35,000 of its sales, and still owes $40,000 on $150,000 of merchandise they purchased. The partnership has $30,000 in inventory at the end of the year. The partnership paid $25,000 in salaries. The partnership paid $2,500 in interest and paid $8,000 for a two-year insurance policy on the first day of business.

Compute net cash flow (cash basis) for the first year for Tri Fecta.

I think I have the answer but I'm not 100% sure.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

ch of the 3 trees below is the most parsimonious one Tree 1 3 Tree...

Basic Math
1.2K views

The function f x is one to one Find f1 analyticall 3 f x X

Physics
1.2K views

Can you give me an example of translational equilibrium without rotational equilibrium? I also need an example...

Biology
1.2K views

This biotechnology visualizes mRNA on a nitrocellulose membrane using nucleic acid hybridizationEastern blottingSouthern blottingWestern blottingNorthern...

Physics
1.2K views

Three 10 resistors are connected from point A to point X from point X to...

Basic Math
1.2K views

A city has a density of 1452 people per square mile. If the town is...

Basic Math
1.2K views

Ms. Scott will pay $2,000 to have her house painted. The amount each painter earns,...

Algebra
1.2K views

21 13 1 2x 10 8 6 22 9 8 x 153 2 5 6...

Accounting
1.2K views

The sales price of $877,600 was determine from present value table, Specifically explain how one...

Accounting
1.2K views

If Cost of Goods Sold is $516, Sales is $848 and Operating Expenses is $135...

Accounting
1.2K views

Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company...

Accounting
1.2K views

#1. Multiple Product CVP: Assume the Josh Furniture sells two kinds of tables, oak...