Solve the problem.
-Budget Summary for the Wonderful Widget Company (all amounts in thousands of dollars) $$\begin{array} { l r r r r }
\text { Total Receipts } & 2001 & 2002 & 2003 & 2004 \
\text { Outlays } & \$ 854 & \$ 908 & \$ 950 & \$ 990 \
\quad \text { Operating } & 525 & 550 & 600 & 600 \
\quad \text { Employee Benefits } & 200 & 220 & 250 & 250 \
\quad \text { Security } & 275 & 300 & 320 & 300 \
\quad \text { Interest on Debt } & \underline { 0 } & \underline { 12 } & \underline { 26 } & \underline { 47 } \
\text { Total Outlays } & 1000 & 1082 & 1196 & 1197 \
\text { Surplus/Deficit } & - 146 & - 174 & - 246 & - 207 \
\text { Debt (accumulated) } & \mathbf { - 1 4 6 } & \mathbf { - 3 2 0 } & \mathbf { - 5 6 6 } & \mathbf { - 7 3 3 }
\end{array}$$ Assume that , for 2005, total receipts are $1,058,586, operating expenses are $531,674, employee benefits are $189,561, security costs are$133,107, and interest on debt is $63,000. Calculate the
Year-end surplus or deficit.

Question

Solve the problem.
-Budget Summary for the Wonderful Widget Company (all amounts in thousands of dollars) $$\begin{array} { l r r r r } 
\text { Total Receipts } & 2001 & 2002 & 2003 & 2004 \
\text { Outlays } & \$ 854 & \$ 908 & \$ 950 & \$ 990 \
\quad \text { Operating } & 525 & 550 & 600 & 600 \
\quad \text { Employee Benefits } & 200 & 220 & 250 & 250 \
\quad \text { Security } & 275 & 300 & 320 & 300 \
\quad \text { Interest on Debt } & \underline { 0 } & \underline { 12 } & \underline { 26 } & \underline { 47 } \
\text { Total Outlays } & 1000 & 1082 & 1196 & 1197 \
\text { Surplus/Deficit } & - 146 & - 174 & - 246 & - 207 \
\text { Debt (accumulated) } & \mathbf { - 1 4 6 } & \mathbf { - 3 2 0 } & \mathbf { - 5 6 6 } & \mathbf { - 7 3 3 }
\end{array}$$ Assume that , for 2005, total receipts are $1,058,586, operating expenses are $531,674, employee benefits are $189,561, security costs are$133,107, and interest on debt is $63,000. Calculate the
Year-end surplus or deficit.

Quizplus · Accepted Answer

The year-end surplus or deficit is calculated by subtracting total outlays from total receipts. For 2005, total receipts are $1,058,586. Total outlays are the sum of operating expenses ($531,674), employee benefits ($189,561), security costs ($133,107), and interest on debt ($63,000), which equals $917,342. Subtracting total outlays from total receipts gives a surplus of $141,244.

Solve the Problem Assume That , for 2005, Total Receipts Are $1,058,586, Operating