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All information is included but balance sheet does not balance therfore you need to try to change formulas that are incorrect to get it to
All information is included but balance sheet does not balance therfore you need to try to change formulas that are incorrect to get it to balance.
Revenue Budget | ||||||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | |||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | ||||||||||||||||
Hours | 150 | 200 | 180 | 200 | 100 | 50 | 50 | 100 | 50 | 50 | 50 | 100 | 1,280 | |||||||||||||||
Price | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | ||||||||||||||||
Revenue | $22,500 | $30,000 | $27,000 | $30,000 | $15,000 | $7,500 | $7,500 | $15,000 | $7,500 | $7,500 | $7,500 | $15,000 | 192,000 | |||||||||||||||
Quarter Total | $79,500 | $52,500 | $30,000 | $30,000 | 192,000 | |||||||||||||||||||||||
Revenue / Sales | May | June | ||||||||||||||||||||||||||
7700 | 11000 | |||||||||||||||||||||||||||
Accounts Receivable Collection Schedule | ||||||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | |||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | ||||||||||||||||
Revenue | $22,500 | $30,000 | $27,000 | $30,000 | $15,000 | $7,500 | $7,500 | $15,000 | $7,500 | $7,500 | $7,500 | $15,000 | $192,000 | |||||||||||||||
GST | $2,045 | $2,727 | $2,455 | $2,727 | $1,364 | $682 | $682 | $1,364 | $682 | $682 | $682 | $1,364 | $17,455 | |||||||||||||||
Collections @ 50% | $11,250 | $15,000 | $13,500 | $15,000 | $7,500 | $3,750 | $3,750 | $7,500 | $3,750 | $3,750 | $3,750 | $7,500 | $96,000 | |||||||||||||||
Collections @ 40% | $4,400 | $9,000 | $12,000 | $10,800 | $12,000 | $6,000 | $3,000 | $3,000 | $6,000 | $3,000 | $3,000 | $3,000 | $75,200 | |||||||||||||||
Collections @ 10% | $770 | $1,100 | $2,250 | $3,000 | $2,700 | $3,000 | $1,500 | $750 | $750 | $1,500 | $750 | $750 | $18,820 | |||||||||||||||
Total cash collected | $16,420 | $25,100 | $27,750 | $28,800 | $22,200 | $12,750 | $8,250 | $11,250 | $10,500 | $8,250 | $7,500 | $11,250 | $190,020 | |||||||||||||||
Quarter Collections | $69,270 | $63,750 | $30,000 | $27,000 | $190,020 | |||||||||||||||||||||||
Operating Expenses Budget | ||||||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | |||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | ||||||||||||||||
Selling Expenses | ||||||||||||||||||||||||||||
Advertising | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $11,025 | |||||||||||||||
Total Selling | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $11,025 | |||||||||||||||
Admin Expenses | ||||||||||||||||||||||||||||
Depreciation | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $993 | $11,916 | |||||||||||||||
Insurance | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $5,974 | |||||||||||||||
Utilities | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $4,104 | |||||||||||||||
Rent | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $40,392 | |||||||||||||||
Wages | $4,275 | $4,275 | $4,275 | $4,275 | $17,100 | |||||||||||||||||||||||
Office expenses | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $5,760 | |||||||||||||||
Total Admin | $8,961 | $8,961 | $8,961 | $8,961 | $4,686 | $4,686 | $4,686 | $4,686 | $4,686 | $4,686 | $4,686 | $4,686 | $73,330 | |||||||||||||||
Financial Expenses | ||||||||||||||||||||||||||||
Bank Fees | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $1,224 | |||||||||||||||
Interest on loan | $2,200 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $26,400 | $292,600 | |||||||||||||||
Total Financial | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $2,302 | $27,624 | |||||||||||||||
Total | $12,182 | $12,182 | $12,182 | $12,182 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $111,979 | |||||||||||||||
Quarter Total | $36,545 | $27,995 | $23,720 | $23,720 | $111,979 | |||||||||||||||||||||||
Cash Budget | ||||||||||||||||||||||||||||
Income Statement | ||||||||||||||||||||||||||||
Revenue | $160,000 | |||||||||||||||||||||||||||
Cash Budget | ||||||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | |||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Less Operating Expenses | |||||||||||||||
Cash Inflow | Selling Expenses | |||||||||||||||||||||||||||
Accounts Receivable | $16,420 | $25,100 | $27,750 | $28,800 | $22,200 | $12,750 | $8,250 | $11,250 | $10,500 | $8,250 | $7,500 | $11,250 | $190,020 | |||||||||||||||
Total Inflow | $16,420 | $25,100 | $27,750 | $28,800 | $22,200 | $12,750 | $8,250 | $11,250 | $10,500 | $8,250 | $7,500 | $11,250 | $190,020 | |||||||||||||||
Cash Outflow | ||||||||||||||||||||||||||||
Advertising | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $919 | $11,025 | Advertising | $10,500 | $10,500 | ||||||||||||
Insurance | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $498 | $5,974 | Administration Expenses | ||||||||||||||
Utilities | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $342 | $4,104 | Depreciation | $14,000 | |||||||||||||
Rent | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $3,366 | $40,392 | Insurance | $5,800 | |||||||||||||
Wages | $4,275 | $4,275 | $4,275 | $4,275 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17,100 | Utilities | $3,800 | |||||||||||||
Office expenses | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $480 | $5,760 | Rent | $39,600 | |||||||||||||
Bank Fees | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $102 | $1,224 | Wages | $18,000 | $17,100.00 | $4,275.00 | |||||||||||
Interest on loan | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $26,400 | Office expenses | $15,261 | $96,461 | ||||||||||||
GST payable | $2,850 | $1,533 | $2,676 | $2,403 | $2,676 | $1,312 | $631 | $631 | $1,312 | $631 | $631 | $631 | $17,916 | Financial Expenses | ||||||||||||||
Total Outflow | $15,032 | $13,715 | $14,858 | $14,585 | $10,583 | $9,219 | $8,537 | $8,537 | $9,219 | $8,537 | $8,537 | $8,537 | $129,895 | |||||||||||||||
Net Inflow/Outflow | $1,388 | $11,385 | $12,892 | $14,215 | $11,617 | $3,531 | -$287 | $2,713 | $1,281 | -$287 | -$1,037 | $2,713 | $60,125 | Bank fees | $1,200 | |||||||||||||
Quarter Inflow/Outflow | $25,666 | $29,364 | $3,707 | $1,389 | $60,125 | |||||||||||||||||||||||
Opening Cash | $50,000 | $51,388 | $62,774 | $75,666 | $89,881 | $101,499 | $105,030 | $104,743 | $107,455 | $108,736 | $108,449 | $107,412 | $50,000 | Interest on loan | $26,400 | $27,600 | ||||||||||||
Net Inflow/Outflow | $1,388 | $11,385 | $12,892 | $14,215 | $11,617 | $3,531 | -$287 | $2,713 | $1,281 | -$287 | -$1,037 | $2,713 | $60,125 | Net Profit | $25,439 | |||||||||||||
Closing Cash | $51,388 | $62,774 | $75,666 | $89,881 | $101,499 | $105,030 | $104,743 | $107,455 | $108,736 | $108,449 | $107,412 | $110,125 | $110,125 | |||||||||||||||
Balance Sheet: | ||||||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Cash | $22,619 | |||||||||||||||||||||||||||
GST Budget | Accounts Receivable | $6,270 | $28,889 | |||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | Non-Current Assets | ||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Equipment | $108,000 | ||||||||||||||
GST collected | $2,045 | $2,727 | $2,455 | $2,727 | $1,364 | $682 | $682 | $1,364 | $682 | $682 | $682 | $1,364 | $17,455 | Accumulated Depreciation Equipment | -$28,600 | $79,400 | ||||||||||||
Less GST Paid on: | Total Assets | $108,289 | ||||||||||||||||||||||||||
Advertising | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $92 | $1,103 | Current Liabilities | ||||||||||||||
Insurance | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $597 | GST Payable | $2,850 | |||||||||||||
Utilities | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $34 | $410 | Non-Current Liabilities | $30,000 | |||||||||||||
Rent | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $337 | $4,039 | Loan | ||||||||||||||
Total GST paid | $512 | $51 | $51 | $51 | $51 | $51 | $51 | $51 | $51 | $51 | $51 | $51 | $1,076 | Total Liabilities | $32,850 | |||||||||||||
Total GST Payable | $1,533 | $2,676 | $2,403 | $2,676 | $1,312 | $631 | $631 | $1,312 | $631 | $631 | $631 | $1,312 | $16,378 | Net Assets | $75,439 | |||||||||||||
Quarter GST Paid | $615 | $154 | $154 | $154 | $1,076 | |||||||||||||||||||||||
Capital | ||||||||||||||||||||||||||||
Opening Capital | $50,000 | |||||||||||||||||||||||||||
Income Statement Budget | Net Profit | 25439 | $75,439 | |||||||||||||||||||||||||
Quarter | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total | |||||||||||||||||||||||
Month | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | ||||||||||||||||
Revenue | $22,500 | $30,000 | $27,000 | $30,000 | $15,000 | $7,500 | $7,500 | $15,000 | $7,500 | $7,500 | $7,500 | $15,000 | $192,000 | |||||||||||||||
Less Operating Expenses | $12,182 | $12,182 | $12,182 | $12,182 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $7,907 | $111,979 | |||||||||||||||
Net Profit | $10,318 | $17,818 | $14,818 | $17,818 | $7,093 | -$407 | -$407 | $7,093 | -$407 | -$407 | -$407 | $7,093 | $80,021 | |||||||||||||||
Quarter Net Profit | $42,955 | $24,505 | $6,280 | $6,280 | $80,021 | |||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||||
Current Assets | ||||||||||||||||||||||||||||
Cash | $110,125 | |||||||||||||||||||||||||||
Accounts Receivable | $190,020 | $300,145 | ||||||||||||||||||||||||||
Non-Current Assets | ||||||||||||||||||||||||||||
Equipment | $108,000 | |||||||||||||||||||||||||||
Accumulated Depreciation Equipment | $79,400 | $187,400 | ||||||||||||||||||||||||||
Total Assets | $487,545 | |||||||||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||||||||||
GST Payable | $16,378 | |||||||||||||||||||||||||||
Non-Current Liabilities | $30,000 | |||||||||||||||||||||||||||
Loan | ||||||||||||||||||||||||||||
Total Liabilities | $46,378 | |||||||||||||||||||||||||||
Net Assets | $441,167 | |||||||||||||||||||||||||||
Capital | ||||||||||||||||||||||||||||
Opening Capital | $75,439 | |||||||||||||||||||||||||||
Net Profit | $80,021 | $155,460 | $285,707 | |||||||||||||||||||||||||
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