Thursday, April 16, 2009

Finances


1. The Champion ATTIC

-Wins $281 for 1st place. Entry fee was paid and owes $41 total in transactions. Previously paid $11 of transaction fee debt. Owes only $30 for transactions. Net winnings equal $251.

2. Cousy's Cagers

-Wins $179 for 2nd place. Entry fee was paid and owes $84 in transactions. Net winnings equal $95.

3. Farming for Fatty's

-Wins $133 for 3rd place. Owes $50 for entry fee and $25 for transactions. Net winnings equal $58.

4. Manbearpig

-Wins $86 for 4th place. Entry fee was paid and owes a total of $62 for transactions. Previously paid $12 of transaction fee debt. Owes only $50 for transactions. Net winnings equal $36.

5. Zephyrs

-Wins $62 for 5th place. Owes $50 for entry fee and $18 for transactions. Owes commissioner $6.

6. We Wear Short Shorts

-Wins $39 for 6th place. Entry fee was paid and owes $88 for transactions. Owes commissioner $49.

7. Arlie's Hogs

-Entry fee was paid and owes $32 for transactions.

8. Cradle Rockers

-Owes $50 for entry fee and $11 for transactions. Owes commissioner $61

9. Handsome City

-Entry fee was paid and owes $10 total for transactions. Previously paid $7 of transaction fee debt. Owes $3.

10. Your Ad Here

-Entry fee was paid and owes $9 for transactions.

***MATH

$50 for entry fee x 10 owners = $500

$500-$100 for website fee = $400

$400 plus $380 in transaction fee pot = $780 in total pot

Money I have in hand:

$50 entry fee x 7 owners paid = $350

$350 plus $30 paid for transaction fees =$380

Missing $400 is from:

$50 x 3 owners = $150

$150 plus $350 in outstanding transaction fees =$500

$500 minus $100 for website fee = $400.

Payout plan:

1. Pay ATTIC $251 in full. That leaves $380-$251 = $129 in hand.

2. Pay Farming for Fatty's $58 in full. That leaves $129-$58 = $71 in hand.

3. Pay Manbearbig $36 in full. That leaves $71-$36 = $35 in hand.

4. Cousy's Cagers will wait until Zephyrs (6), WWSS (49), Arlie's Hogs (32), Cradle Rockers (61), Handsome City (3), and Your Ad Here (9) pay the total remaining $160 in transaction fees.

5. $160 in outstanding fees plus $35 remaining in hand = $195

6. $195 equals $95 for second place and $100 for website fee that was paid by me.

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