Business, 11.09.2019 00:10 leahelixabeth8973

Alpaca corporation had revenues of $300,000 in its first year of operations. the company has not collected on $19,900 of its sales and still owes $28,000 on $96,000 of merchandise it purchased. the company had no inventory on hand at the end of the year. the company paid $13,700 in salaries. owners invested $19,000 in the business and $19,000 was borrowed on a five-year note. the company paid $4,600 in interest that was the amount owed for the year, and paid $8,600 for a two-year insurance policy on the first day of business. alpaca has an effective income tax rate of 40%. (assume taxes are paid in the same year). compute the cash balance at the end of the first year for alpaca corporation.

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Alpaca corporation had revenues of $300,000 in its first year of operations. the company has not col...