Using what you have learned from previous weeks and the use of assignment 2. you will build on to your mock business. please 2 to investments to pay for expansion/grow of your bus
Using what you have learned from previous weeks and the use of assignment 2. you will build on to your mock business.
- please 2 to investments to pay for expansion/grow of your business . high risk and low risk. long term and short term
- Issue a 5 year loan
- take out a 6 year loan with compound interest . int rate (.5.6) (show you deposit amount
Income statement
| 20XX | ||||||||||
| Put name here | ||||||||||
| Revenue | ||||||||||
| Gross sales | ||||||||||
| Less: | Sales returns and allowances | |||||||||
| Net sales | $ – 0 | |||||||||
| Cost of goods sold | ||||||||||
| Beginning inventory | ||||||||||
| Add: | Purchases | |||||||||
| Direct labor | ||||||||||
| Indirect expenses | ||||||||||
| Inventory available | $ – 0 | |||||||||
| Less: | Ending inventory | |||||||||
| Cost of goods sold | $ – 0 | |||||||||
| Gross profit (loss) | $ – 0 | |||||||||
| Expenses | ||||||||||
| Rent | ||||||||||
| Amortization | $ – 0 | |||||||||
| Utilities | $ – 0 | |||||||||
| Wages & direct costs | $ – 0 | |||||||||
| Commissions | $ – 0 | |||||||||
| Supplies | $ – 0 | |||||||||
| Marketing | $ – 0 | |||||||||
| Logistics | $ – 0 | |||||||||
| Repairs and maintenance | $ – 0 | |||||||||
| Miscellaneous | $ – 0 | |||||||||
| Depreciation | $ – 0 | |||||||||
| Interest | $ – 0 | |||||||||
| Total expenses | $ – 0 | |||||||||
| Net operating income | $ – 0 | |||||||||
| Other income | ||||||||||
| Gain (loss) on sale of assets | ||||||||||
| Interest income | ||||||||||
| Total other income | $ – 0 | |||||||||
| Net income (loss) | $ – 0 | |||||||||
Balance sheet
| Create a Balance Sheet in this worksheet. Helpful instructions on how to use this worksheet are in cells in this column. Arrow down to get started. | Your Company Name | Balance Sheet | |
| Enter Company Name in cell at right. Title of this worksheet is in cell D1. Next instruction is in cell A4. | |||
| Assets label is in cell at right. | Assets | ||
| Enter details in Current Assets table starting in cell at right. Next instruction is in cell A14. | Current assets: | Previous Year | Current Year |
| Cash | – 0 | – 0 | |
| Investments | – 0 | – 0 | |
| Inventories | – 0 | – 0 | |
| Accounts receivable | – 0 | – 0 | |
| Pre-paid expenses | – 0 | – 0 | |
| Other | – 0 | – 0 | |
| Total current assets | – 0 | – 0 | |
| Enter details in Fixed Assets table starting in cell at right. Next instruction is in cell A21. | Fixed assets: | Previous Year | Current Year |
| Property and equipment | – 0 | – 0 | |
| Leasehold improvements | – 0 | – 0 | |
| Equity and other investments | – 0 | – 0 | |
| Less accumulated depreciation | – 0 | – 0 | |
| Total fixed assets | – 0 | – 0 | |
| Enter details in Other Assets table starting in cell at right. Next instruction is in cell A25. | Other assets: | Previous Year | Current Year |
| Goodwill | – 0 | – 0 | |
| Total other assets | – 0 | – 0 | |
| Total Assets for Previous Year are auto calculated in cell C25 and Total Assets for Current Year in cell D25. Next instruction is in cell A27. | Total assets | – 0 | – 0 |
| Liabilities and owner's equity label is in cell at right. | Liabilities and owner's equity | ||
| Enter details in Current Liabilities table starting in cell at right. Next instruction is in cell A37. | Current liabilities: | Previous Year | Current Year |
| Accounts payable | – 0 | – 0 | |
| Accrued wages | – 0 | – 0 | |
| Accrued compensation | – 0 | – 0 | |
| Income taxes payable | – 0 | – 0 | |
| Unearned revenue | – 0 | – 0 | |
| Other | – 0 | – 0 | |
| Total current liabilities | – 0 | – 0 | |
| Enter details in Long-term Liabilities table starting in cell at right. Next instruction is in cell A41. | Long-term liabilities: | Previous Year | Current Year |
| Mortgage payable | – 0 | – 0 | |
| Total long-term liabilities | – 0 | – 0 | |
| Enter details in Owner’s Equity table starting in cell at right. Next instruction is in cell A46. | Owner's equity: | Previous Year | Current Year |
| Investment capital | – 0 | – 0 | |
| Accumulated retained earnings | – 0 | – 0 | |
| Total owner's equity | – 0 | – 0 | |
| Total liabilities and owner's equity for previous year are auto calculated in cell C46 and for the current year in cell D46. Next instruction is in cell A49. | Total liabilities and owner's equity | – 0 | – 0 |
| Previous Year Balance is auto calculated in cell C49 and Current Year Balance in cell D49. | Balance | – 0 | – 0 |
Year-over-year chart
Year-over-year comparison
Cash Investments Inventories Accounts receivable Pre-paid expenses Other Total current assets Property and equipment Leasehold improvements Equity and other investments Less accumulated depreciation Total fixed assets Goodwill Total other assets Accounts payable Accrued wages Accrued compensation Income taxes payable Unearned revenue Other Total current liabilities Mortgage payable Total long-term liabilities Investment capital Accumulated retained earnings Total owner's equity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Cash Investments Inventories Accounts receivable Pre-paid expenses Other Total current assets Property and equipment Leasehold improvements Equity and other investments Less accumulated depreciation Total fixed assets Goodwill Total other assets Accounts payable Accrued wages Accrued compensation Income taxes payable Unearned revenue Other Total current liabilities Mortgage payable Total long-term liabilities Investment capital Accumulated retained earnings Total owner's equity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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