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ANSWER ALL THE QUESTIONS PLEASE!! We have the following financial information about the company from Jan 1, 2021- Dec 315t,2021, which was the end of
ANSWER ALL THE QUESTIONS PLEASE!!
We have the following financial information about the company from Jan 1, 2021- Dec 315t,2021, which was the end of its first full year of operation. - The company had $300,000 in sales of Product A in January 2021, and $200,000 in sales of Product B in March of 2021 - The company incurred $360,000 in payroll-related expenses ( $30,000/ month) - The company had $138,000 in the bank (cash) on Dec 31,2021 - On Dec 31, 2021, the company had $62,000 on their line of credit with their bank - During the year, the company received cash payments of $150,000 in January, $90,000 in February, $82,000 in July and $60,000 in September - During the year, the company paid out $50,000 to suppliers in July and $30,000 in December - The company bought $120,000 in supplies ( $10,000/ month) - The company had rent totalling $24,000($2000/month) - During the year the company paid out $20,000/ month in payroll costs (every month) - During the year the company paid out $2,000/ month in rent (every month) - During the year the company received a $700 bill for heat and lights every month - The company has a term loan at the bank for equipment of $40,000 - From january-Novembery the company paid out $700/ month for heat and lights (i.e., 11 months) 1. Using the information above, prepare the three main financial statements for the company for Calendar Year 2021 ( 20% for each of the three financial statements =60% ) As of January 1st,2022, the company had the following information about what the company expected for 2022 - The company is anticipating $250,000 in sales of Product A in January, and $400,000 in sales of Product B in March - The company expects to incur $30,000/ month in payroll-related expenses 1. Using the information above, prepare the three main financial statements for the company for Calendar Year 2021 ( 20% for each of the three financial statements = 60\%) As of January 1st,2022, the company had the following information about what the company expected for 2022 - The company is anticipating $250,000 in sales of Product A in January, and $400,000 in sales of Product B in March - The company expects to incur $30,000/ month in payroll-related expenses - The company expects to purchase $10,000/ month in supplies - The company knows it will have rent of $2,000/ month - The company will receive a $700 bill for heat and lights every month 2. Prepare a Proforma Income Statement for the company for Calendar Year 2022 ( 20% of test grade) 3. You intend to gather all the money you can yourself to start a company. For each of the listed sources of startup capital, indicate the following: a. Whether it is debt, equity, or something else (not debt or equity) b. The pros and cons of using this source of capital ( 20% of test grade) We have the following financial information about the company from Jan 1, 2021- Dec 315t,2021, which was the end of its first full year of operation. - The company had $300,000 in sales of Product A in January 2021, and $200,000 in sales of Product B in March of 2021 - The company incurred $360,000 in payroll-related expenses ( $30,000/ month) - The company had $138,000 in the bank (cash) on Dec 31,2021 - On Dec 31, 2021, the company had $62,000 on their line of credit with their bank - During the year, the company received cash payments of $150,000 in January, $90,000 in February, $82,000 in July and $60,000 in September - During the year, the company paid out $50,000 to suppliers in July and $30,000 in December - The company bought $120,000 in supplies ( $10,000/ month) - The company had rent totalling $24,000($2000/month) - During the year the company paid out $20,000/ month in payroll costs (every month) - During the year the company paid out $2,000/ month in rent (every month) - During the year the company received a $700 bill for heat and lights every month - The company has a term loan at the bank for equipment of $40,000 - From january-Novembery the company paid out $700/ month for heat and lights (i.e., 11 months) 1. Using the information above, prepare the three main financial statements for the company for Calendar Year 2021 ( 20% for each of the three financial statements =60% ) As of January 1st,2022, the company had the following information about what the company expected for 2022 - The company is anticipating $250,000 in sales of Product A in January, and $400,000 in sales of Product B in March - The company expects to incur $30,000/ month in payroll-related expenses 1. Using the information above, prepare the three main financial statements for the company for Calendar Year 2021 ( 20% for each of the three financial statements = 60\%) As of January 1st,2022, the company had the following information about what the company expected for 2022 - The company is anticipating $250,000 in sales of Product A in January, and $400,000 in sales of Product B in March - The company expects to incur $30,000/ month in payroll-related expenses - The company expects to purchase $10,000/ month in supplies - The company knows it will have rent of $2,000/ month - The company will receive a $700 bill for heat and lights every month 2. Prepare a Proforma Income Statement for the company for Calendar Year 2022 ( 20% of test grade) 3. You intend to gather all the money you can yourself to start a company. For each of the listed sources of startup capital, indicate the following: a. Whether it is debt, equity, or something else (not debt or equity) b. The pros and cons of using this source of capital ( 20% of test grade)Step by Step Solution
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