Would Compass have a liability to Client A at the end of period 6, 2015? 

 

 Would Compass have a liability to Client A at the end of period 11, 2015? 

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Per the contract "company will operate the food service on its own credit on a profit and loss basis. Any excess profit over $160,000.00 will be split 50/50 with Client receiving 50% and company receiving 50% based on company's fiscal year". Please note records liabilities throughout the year Period TOTAL SALES NET PRODUCT COST TOTAL PERSONNEL COST TOTAL OTHER COSTS PROFIT/(LOSS) YTD PROFIT/(LOSS) 1, 2015 613,049 249,412 231,228 56,661 75,748 75,748 P&L Reporting From Period 1, 2015 To Period 12, 2015 2, 2015 410,599 171,226 168,979 45,825 24,569 100,317 3, 2015 225,443 95,639 118,966 26,956 -16,118 84,199 4, 2015 410,544 161,130 156,315 33,181 59,918 144,117 5, 2015 513,935 211,125 187,844 45,063 69,903 214,020 6, 2015 467,818 204,311 180,752 40,134 42,621 256,641 7, 2015 513,764 200,714 212,105 36,483 64,462 321,103 8, 2015 148,199 49,073 91,474 30,685 -23,033 298,070 Profit Center: Client A 9, 2015 156,243 60,596 61,882 16,968 16,797 314,867 10, 2015 98,411 56749 84,017 32,332 -74,687 240,180 11, 2015 407,131 165,105 250,136 85,458 -93,568 146,612 12, 2015 731,919 272,096 230,290 42,258 187,275 333,887 TOTAL 4,697,055 1,897,176 1,973,988 492,004 333,887 Per the contract "company will operate the food service on its own credit on a profit and loss basis. Any excess profit over $160,000.00 will be split 50/50 with Client receiving 50% and company receiving 50% based on company's fiscal year". Please note records liabilities throughout the year Period TOTAL SALES NET PRODUCT COST TOTAL PERSONNEL COST TOTAL OTHER COSTS PROFIT/(LOSS) YTD PROFIT/(LOSS) 1, 2015 613,049 249,412 231,228 56,661 75,748 75,748 P&L Reporting From Period 1, 2015 To Period 12, 2015 2, 2015 410,599 171,226 168,979 45,825 24,569 100,317 3, 2015 225,443 95,639 118,966 26,956 -16,118 84,199 4, 2015 410,544 161,130 156,315 33,181 59,918 144,117 5, 2015 513,935 211,125 187,844 45,063 69,903 214,020 6, 2015 467,818 204,311 180,752 40,134 42,621 256,641 7, 2015 513,764 200,714 212,105 36,483 64,462 321,103 8, 2015 148,199 49,073 91,474 30,685 -23,033 298,070 Profit Center: Client A 9, 2015 156,243 60,596 61,882 16,968 16,797 314,867 10, 2015 98,411 56749 84,017 32,332 -74,687 240,180 11, 2015 407,131 165,105 250,136 85,458 -93,568 146,612 12, 2015 731,919 272,096 230,290 42,258 187,275 333,887 TOTAL 4,697,055 1,897,176 1,973,988 492,004 333,887

Answer rating: 100% (QA)

Step 12 Solution It is given that as per as per con... View the full answer