Using the augmented matrix obtained from the previous number, perform Gaussian elimination (Upper triangular matrix) to solve for the amount invested in A,B,C. Fill in the matrix below (answer in fractional form):
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- Manish opened a cafe with an initial investment of PhP 64000. In the first year he incurred the loss of 10%. During second year he gained the profit of 4% and in the third year he gained the profit of 15%. Calculate his net profit gained in the entire three yearBen Conway, Ida Chan, and Clair Scott formed CCS Consulting this year by making capital contributions of $266,000, $302,000, and $196,000, respectively. They anticipate annual profit of $458,400 and are considering the following alternative plans of sharing profits and losses: Equally; In the ratio of their initial investments; or Salary allowances of $125,000 to Conway, $96,000 to Chan, and $71,000 to Scott and interest allowances of 10% on initial investments, with any remaining balance shared equally. Required : 1. Use the schedule to show how a profit of $458,400 would be distributed under each of the alternative plans being considered. (Enter all amounts as positive values.)During his first year of trading, Tanwir brings his private car, valued at $6,000 into the business as well as his initial $20,000 of capital. The business made a net profit of $17,500 for the year, after deducting $650 for petrol which was paid out of his private funds. He has drawn $5,000 out of the business bank account for himself, as well as paying his home telephone bill of $450 from business funds. Tanwir's capital at the end of his first year of trading was $ ...........................
- Don and Joe went into business together as equal co-owners. Joe had a lot of money but no business sense and Don had the “know how”. Don and Joe each invested $10,000 and Joe loaned the business $90,000. Chase loaned the business another $100,000 after Joe and Don agreed to guarantee the loan. In the first year, as is typical, the business struggled and incurred ordinary operating income of $50,000, excluding the payment promised to Don of $65,000 annually for his labor. The business earned interest income of $2,000, a short term capital loss of $4,000, and made qualified charitable contributions of $1,000. In the second year of business ordinary operating income was $32,000. including the promised amount for Don’s labor. The business earned $1,200 in interest income and incurred a $1,500 capital gain and paid $2,500 in qualified charitable contributions. Joe was repaid $10,000 for his loan and Chase received $3,000 in principal payments. An equal distribution of $4,000 was made to…Mrs X runs a small business. At the beginning of the calendar year, her owner’s equity consisted solely of a capital contribution of R280 000; her liabilities stood at R410 000; and she had R690,000 worth of assets. During the calendar year, she made a profit of R60 000. She also increased her capital contribution to R330 000, and paid down her debts by R40,000. At the end of the calendar year, what amount would her assets be sitting at? a.R690 000 b.R710 000 c.R700 000 d.R760 000 e.R800 000Carlo and John have been operating an accounting firm for a number of years. At the beginning of 2008, their capital balances were P60,000 and P75,000, respectively. During 2008, Carlo invested an additional P10,000 on April 1 and permanently withdrew P6,000 on August 31; John also withdrew P12,000 on May 1 and invested P6,000 on November 1. In addition, Carlo and John withdrew their salary allowances of P18,000 and P24,000, respectively. At year-end, total capital of the Carlo and John partnership was P182,000. Carlo and John share income after salary allowances in a 6:4 ratio. How much is the share of each partner in the net income?
- Kristina invests a total of $23,000 in two accounts. The first account earned an annual interest rate of 12% and the second account earned an annual interest of 10%. At the end of one year, the total amount of money gained was $2,470.00. How much was invested into each account?_________$ was invested in the account that earned 12% and__________$ was invested in the account that earned 10%.At the beginning of the year, a high school football coach decided to leave his job and give up his annual coaching salary of $65,000 and open his own sporting goods store. A partial income statement for follows: To get the sporting goods store opened, the former coach used $80,000 of his personal savings. The coach opened his store in a building that he owns. Prior to opening his store, the building was rented for $31,000 per year. The coach could have earned 5 percent return by investing in stocks of other new businesses with risk levels similar to the risk level associated with his new sporting goods store. 1)The former high school coach incurs $_____ of total explicit costs for using market-supplied resources. 2)The opportunity cost of the owner’s equity capital is $_____ annually. 3)Total implicit cost of owner-supplied resources is $ 4)Total economic cost is $_____. 5)Accounting profit is $_____ 6)By how much did coach’s wealth change by opening the sporting…Mr Ramu is a chief operating office of the company and being paid a salary of RM15,625 per month. His percentage portion for Employees Provident Fund contribution is 17%. He intent to buy a car worth RM290,000 and would be making a bank loan of RM100,000 to finance building an extension for his house kitchen. He also plans to bring his wife (housewife) and four children (two studying in a local university and the rest in secondary school) for an overseas holiday trip with an estimate cost RM15,000. He also plans to have a servant and a driver where he would be paying them with an annual salary of RM15,000 and RM24,000 respectively. His company is willing to prepared to restructure his remuneration package to accommodate the above needs. REQUIRED: (a) Explain how Mr Ramu’s remuneration package can be restructure on a more tax efficient basis based on the above information only. ( b) Based on (a), which are item (s) in the proposed remuneration package is/are taxable or exempted. (c)…