Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tigers Incorporated started a new business on January 1, 2021. That same day, Tigers Incorporated also received $120,000 of cash from issuing common stock and

Tigers Incorporated started a new business on January 1, 2021. That same day, Tigers Incorporated also received $120,000 of cash from issuing common stock and borrowed $90,000 from a friend. On January 1, 2021 Tigers Incorporated also purchased equipment for $50,400. The equipment has a useful life of 36 months. On January 1, 2021, Tigers also paid $81,600 of cash to rent office space for a 48 month period. During 2021, the Company provided services valued at $12,600 and had collected 7,560 of that amount year end. the company will collect the remaining portion in the following year. Payroll for 2021 was 4,700 paid in full in 2021. what is the companys valuation at the end of 2021 if they use a revenue multiplier of 3.3 to the value of the company

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions