Partnership formed using 20 cash from each of two partner

Reference no: EM13570565

Partnership formed using $20 cash from each of two partner as initial capital so after forming partnership starting inventory: cash = $40. Purchases charged today are 1 pitchers for $3.25, 1 mixing spoons for $2.5, 100 drinking cups for $3, 20 tubs of lemonade mix for $10, 3 bags of ice for $5.25. Today sales = $31.5 (63 @ 0.5) out of 134 in 5.25 hours. Inventory used 79 drinking cups value at $2.37, 13 tubs of lemonade mix value at $6.5, 3 bags of ice value at $5.25. Ending cash was $71.5 and the store balance was $24.

Day 2 - Weather was normal

Starting Inventory: cash = $71.5, pitchers = 1 worth $3.25, mixing spoons = 1 worth $2.5, drinking cups = 21 worth $0.63, tubs of lemonade mix = 7 worth $3.5. Purchases charged today are 100 drinking cups for $3, 15 tubs of lemonade mix for $7.5, 2 bags of ice for $3.5. Today sales = $25 (50 @ 0.5) out of 98 in 5 hours. Inventory used 60 drinking cups value at $1.8, 10 tubs of lemonade mix value at $5, 2 bags of ice value at $3.5. Ending cash was $96.5 and the store balance was $38.

Day 3 - Weather was cloudy

Starting Inventory: cash = $96.5, pitchers = 1 worth $3.25, mixing spoons = 1 worth $2.5, drinking cups = 61 worth $1.83, tubs of lemonade mix = 12 worth $6. Purchases charged today are 50 drinking cups for $1.5, 3 bags of ice for $5.25. Today sales = $28.2 (47 @ 0.6) out of 92 in 4.75 hours. Inventory used 63 drinking cups value at $1.89, 10 tubs of lemonade mix value at $5, 3 bags of ice value at $5.25. Ending cash was $124.7 and the store balance was $44.75.

Day 4 - Weather was normal.

Paid store charge account balance of $44.75. Starting Inventory: cash = $79.95, pitchers = 1 worth $3.25, mixing spoons = 1 worth $2.5, drinking cups = 48 worth $1.44, tubs of lemonade mix = 2 worth $1. Purchases charged today are 50 drinking cups for $1.5, 15 tubs of lemonade mix for $7.5, 3 bags of ice for $5.25. Today sales = $39 (65 @ 0.6) out of 115 in 5 hours. Inventory used 81 drinking cups value at $2.43, 13 tubs of lemonade mix value at $6.5, 3 bags of ice value at $5.25. Ending cash was $118.95 and the store balance was $14.25.

Day 5 - Weather was normal

Starting Inventory: cash = $118.95, pitchers = 1 worth $3.25, mixing spoons = 1 worth $2.5, drinking cups = 17 worth $0.51, tubs of lemonade mix = 4 worth $2. Purchases charged today are 50 drinking cups for $1.5, 15 tubs of lemonade mix for $7.5, 3 bags of ice for $5.25. Today sales = $32.4 (54 @ 0.6) out of 113 in 4.5 hours. Inventory used 68 drinking cups value at $2.04, 11 tubs of lemonade mix value at $5.5, 3 bags of ice value at $5.25. Ending cash was $151.35 and the store balance was $28.5.

Day 6 - Weather was sunny

Starting Inventory: cash = $151.35, pitchers = 1 worth $3.25, mixing spoons = 1 worth $2.5, tubs of lemonade mix = 8 worth $4. Purchases charged today are 100 drinking cups for $3, 10 tubs of lemonade mix for $5, 3 bags of ice for $5.25. Today sales = $48.6 (81 @ 0.6) out of 157 in 4.5 hours. Inventory used 99 drinking cups value at $2.97, 16 tubs of lemonade mix value at $8, 3 bags of ice value at $5.25. Ending cash was $199.95 and the store balance was $41.75.

Reference no: EM13570565

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