Business, 12.02.2020 20:34 leothedrifter

Alpaca Corporation had revenues of $300000 in its first year of operations. The company has not collected on $19900 of its sales and still owes 26500 on 85000 of merchandise it purchased. The company had no inventory on hand at the end of the year. The company paid $15000 in salaries. Owners invested $30000 in the buisness and $30000 was borrowed on a five-year note. The company paid $3300 in interest that was the amount owed for the year, and paid $7800 for two-year insurance policy on the first day of buisness. Alpaca has an effective income tax rate of 9%.

Compute the cash balance at the end of the first year for alpaca Corporation.

A 231548

B 263300

C 238499

D 248900

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Alpaca Corporation had revenues of $300000 in its first year of operations. The company has not coll...

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