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1 c. In table form, list down how much investment each shareholder will invest? The shareholders The money invested Namel 100.000 Name2 100.000 Name 3 100.000 Name 100.000 Names 100.000 Total SO0.000 d. In table form, list the type of service and what prices will you charge for your service(s)? Service Prices Age from 0-3 ISO Sabour Ape from 4.6 100 Soboor Age from 7-12 (only girl 180 Serhout Monthly rate is varied 2 e. Where will you place your store? How much rent will you pay for the store? If you do not want to rent, you can buy the building. We will open a daycare in Yanbu since we believe that all people require such a service, and we now lack such a service; . We will purchase a ready building for (300 thousand) SR. f. Decide how to inform customers about your new business. It represents the options you may select regarding the advertising for your store. You must determine the amount that you will spend on advertising and the types of advertising, Advertising for people interested in Day-care (18.000) SR. Make an opening ceremony for the Day-care and inviting people to make a tour (10,000) SR - Create a website for the Day-care and advertising it on other known websites (12.000) SR. 3 g. In table form, list how much salary you will pay per month for each of your employees? You must also decide on the manager, worker and any other people working in your company Employees Salary for each employee Manager 10000 Caring employee 3000 Cleaner 1000 Doctor 7000 Receptions 3500 Security 3000 Total 27,500 h. Other Information for planning your operation You will need this information to make a reasonable plan Assets Equipment Furniture Supplies Computers ASSET: what do you need to purchase? In table form list the name of the assets and how much each will cost and useful life and salvage value: Price SOXO SODO 40 100 4 FINANCING: How much do you need to borrow to acquire your assets? Where to borrow? Interest charges? Period of borrowing (THE AMOUNT BORROW DEPEND ON THE DURATION, LARGE AMOUNT LONGER DURATION AND HIGHER INTEREST RATE) We will borrow 250,000 SR from the Al Ahli Bank for one year. With interest charges 15%. DIVIDEND: How much is the dividend payment for each shareholder? When to give? (ONLY 3 MONTHS DIVIDEND, THE AMOUNT SHOULD NOT BE A LARGE AMOUNT-PUT IN AMOUNT NOT PERCENTAGE) The owner will get 25% cach and the investors will get 19% cach on 30 March 5 From your part 1, write necessary transactions for three months (January, February, March) Each month should have at least 5 transactions. Use the table form like this) Date Transactions Jan-01 The company issued 500,000 SR shares to start the business Jan-08 Purchase office computers worth 10,000SR. Paid 5,000 cash and sign a note payable for the remainder Jan-15 Hired two employees for service to perform in the company Jan-17 Borrowed 250,000 SR from Ahli bank. Jan-30 Paid for the employee (security)worth 3,000 SR. Purchase furniture worth 50,000 SR paid 30,000 cash and signa Feb-01 note payable for the remainder Feb-07 Received 2.500 SR cash from 12 customers Feb-16 Paid 1320 SR for Water and electricity bills Feb-25 Paid for the amount due for transaction on Feb 1 Feb-27 Paid 27.500 SR for salary expenses. Mar-01 Purchase supplies for 40,000 SR Mar-05 Received 5000 cash SR from 25 customers. Mar 18 Paid 25,000 SR for the loan borrowed from the bank Mar 25 Paid 1230 SR for Water and electricity bills Mar-29 Paid 27.500 SR for salary expenses The Questions are: From the three months transactions that you created in the Part A, Prepare: A. In excel - journal entry for the three months B. In excel - post the journal entry to ledgers and calculate one balance(total) amount for each account C. In excel - Prepare trial balance at the end of March D. In excel - Prepare adjusting entries at the end of March (You may check with your teacher about your adjusting entries) E. In excel worksheet, transfer your trial balance and adjusting entries to the necessary column and complete the worksheet F. In excel, prepare income statements, balance sheet and statement of retained earnings G. In excel, prepare closing entries and post-closing trial balance 1 c. In table form, list down how much investment each shareholder will invest? The shareholders The money invested Namel 100.000 Name2 100.000 Name 3 100.000 Name 100.000 Names 100.000 Total SO0.000 d. In table form, list the type of service and what prices will you charge for your service(s)? Service Prices Age from 0-3 ISO Sabour Ape from 4.6 100 Soboor Age from 7-12 (only girl 180 Serhout Monthly rate is varied 2 e. Where will you place your store? How much rent will you pay for the store? If you do not want to rent, you can buy the building. We will open a daycare in Yanbu since we believe that all people require such a service, and we now lack such a service; . We will purchase a ready building for (300 thousand) SR. f. Decide how to inform customers about your new business. It represents the options you may select regarding the advertising for your store. You must determine the amount that you will spend on advertising and the types of advertising, Advertising for people interested in Day-care (18.000) SR. Make an opening ceremony for the Day-care and inviting people to make a tour (10,000) SR - Create a website for the Day-care and advertising it on other known websites (12.000) SR. 3 g. In table form, list how much salary you will pay per month for each of your employees? You must also decide on the manager, worker and any other people working in your company Employees Salary for each employee Manager 10000 Caring employee 3000 Cleaner 1000 Doctor 7000 Receptions 3500 Security 3000 Total 27,500 h. Other Information for planning your operation You will need this information to make a reasonable plan Assets Equipment Furniture Supplies Computers ASSET: what do you need to purchase? In table form list the name of the assets and how much each will cost and useful life and salvage value: Price SOXO SODO 40 100 4 FINANCING: How much do you need to borrow to acquire your assets? Where to borrow? Interest charges? Period of borrowing (THE AMOUNT BORROW DEPEND ON THE DURATION, LARGE AMOUNT LONGER DURATION AND HIGHER INTEREST RATE) We will borrow 250,000 SR from the Al Ahli Bank for one year. With interest charges 15%. DIVIDEND: How much is the dividend payment for each shareholder? When to give? (ONLY 3 MONTHS DIVIDEND, THE AMOUNT SHOULD NOT BE A LARGE AMOUNT-PUT IN AMOUNT NOT PERCENTAGE) The owner will get 25% cach and the investors will get 19% cach on 30 March 5 From your part 1, write necessary transactions for three months (January, February, March) Each month should have at least 5 transactions. Use the table form like this) Date Transactions Jan-01 The company issued 500,000 SR shares to start the business Jan-08 Purchase office computers worth 10,000SR. Paid 5,000 cash and sign a note payable for the remainder Jan-15 Hired two employees for service to perform in the company Jan-17 Borrowed 250,000 SR from Ahli bank. Jan-30 Paid for the employee (security)worth 3,000 SR. Purchase furniture worth 50,000 SR paid 30,000 cash and signa Feb-01 note payable for the remainder Feb-07 Received 2.500 SR cash from 12 customers Feb-16 Paid 1320 SR for Water and electricity bills Feb-25 Paid for the amount due for transaction on Feb 1 Feb-27 Paid 27.500 SR for salary expenses. Mar-01 Purchase supplies for 40,000 SR Mar-05 Received 5000 cash SR from 25 customers. Mar 18 Paid 25,000 SR for the loan borrowed from the bank Mar 25 Paid 1230 SR for Water and electricity bills Mar-29 Paid 27.500 SR for salary expenses The Questions are: From the three months transactions that you created in the Part A, Prepare: A. In excel - journal entry for the three months B. In excel - post the journal entry to ledgers and calculate one balance(total) amount for each account C. In excel - Prepare trial balance at the end of March D. In excel - Prepare adjusting entries at the end of March (You may check with your teacher about your adjusting entries) E. In excel worksheet, transfer your trial balance and adjusting entries to the necessary column and complete the worksheet F. In excel, prepare income statements, balance sheet and statement of retained earnings G. In excel, prepare closing entries and post-closing trial balance