subject
Business, 15.02.2021 19:40 tristan41

Al pacacino corporation had revenues of $203,000 in its first year of operations. the company has not collected on $20,000 of its sales and still owes $25,000 on $136,000 of merchandise it purchased. the company had no inventory on hand at the end of the year. the company paid $15,000 in salaries (out of $23,000 accrued). owners invested $20,000 in the business and $20,000 was borrowed on a five-year note. the company paid $2,200 in interest (same as the amount owed for the year). assume no income tax expense. Required:
Compute net income for the first year for Al Pacacino Corporation.

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 19:30, qwertylol12345
Vulcan company is a monthly depositor whose tax liability for march 2019 is $2,510. 1. what is the due date for the deposit of these taxes? march 17 2. assume that no deposit was made until april 29. compute the following penalties. assume a 365-day year in your computations. round your answers to the nearest cent. a. penalty for failure to make timely deposits. $ b. penalty for failure to fully pay employment taxes $ c. interest on late payment (assume a 5% interest rate). $ d. total penalty imposed $
Answers: 3
image
Business, 22.06.2019 01:50, mattstudy305
Which statement below best describes george waring's approach to solving the problems of water-borne illness? a. waring is going with his "gut," because he believes that instincts and emotions are the best guides for action. b. waring efficiently and thoroughly lays out the case for why the problems are too large and overwhelming to be solved: people should just move out of cities back to their farms. c. waring has gathered the testimonies of people who live in densely populated areas in order to learn how they themselves have solved their problems. d. waring exhibits the industrial age's increased respect for and reliance on science and the scientific method.
Answers: 1
image
Business, 22.06.2019 09:30, linnybear300
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
Answers: 3
image
Business, 22.06.2019 11:00, idontknow1993
Zoe would like to be able to save for night courses at the local college. which of these would be a good way for zoe to make more money available for savings without dramatically changing her budget? economía
Answers: 2
You know the right answer?
Al pacacino corporation had revenues of $203,000 in its first year of operations. the company has no...

Questions in other subjects: