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    Accounting1001's Avatar
    Accounting1001 Posts: 1, Reputation: 1
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    Jan 15, 2015, 04:49 PM
    Accounting Cash balance
    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 hasan effective income tax rate of 9%.
    Compute the cash balance at the end of the first year for Alpaca Corporation.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    Jan 16, 2015, 07:16 AM
    Well this is a simple question, we don't do your assignments for you?
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