Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Create a Balance sheet for this business start up costs using the information provided. Equity: Must be 25% of the Total Assets Should look like
Create a Balance sheet for this business start up costs using the information provided.
Equity: Must be 25% of the Total Assets
Should look like this:
2 Start up Costs Number of Items Cost per Item Cost $ 30,000.00 3 $ 49.99 $ 149.97 3 $ 150.00 S 450.00 1 $ 300.00 $ 300.00 1 $ 49.99 $ 49.99 3 $ 799.99 $ 2,399.97 1 $ 499.99 $ 499.99 1 S 30.99 $ 30.99 2 $ 24.99 $ 49.98 1 $ 160.00 $ 160.00 1 $ 299.99 $ 299.99 $ 1,000.00 $ 1,000.00 1 $ 200.00 $ 200.00 1 S 200.00 $ 200.00 $ 100.00 $ 100.00 $ 1,000.00 $ 1,000.00 Total 3 4 Assets 5 Cash 6 Office chairs 7 Office desks 8 Office shelving unit 9 Filling cabinet 10 Computers 11 laptop 12 Printer 13 Recycling and garbage bins 14 Toilet 15 Sink 16 Inventory 17 Website Theme 18 Logo design 19 Marketing 20 Product photos 21 22 23 24 Expenses 25 Domain name 26 Shopify membership 27 Payment Processing 2-3% 28 G suite account 29 Storage unit per month 30 Email marketing software 31 Apps and plugins 32 33 Prepaid rent 34 Phone, internet 35 Security 36 Hydro 37 Enbridge 38 Permits/licensing 39 Employee trainng wages 40 Bookkeeper 41 Term (months) w Cost 12 3 $ $ 3 $ 3 $ 3 $ 3 $ Total Cost 10 $ 120.00 29.99 $ 89.97 1,040.00 $ 1,040.00 5.00 $ 15.00 100.00 $ 300.00 30.00 $ 90.00 200.00 $ 600.00 3 S 3,500.00 $ 10,500.00 3 $ 210.00 $ 630.00 3 $ 55.99 $ 167.97 3 $ 260.00 $ 780.00 3 $ 150.00 $ 450.00 1 $ 2,500.00 $ 2,500.00 120hrs*2 employees $ 16.00 $ 3,840.00 3 $ 500.00 $ 1,500.00 Totala/Month Total start-up cost 42 43 $ Current Assets Cash and Cash Equivalents Prepaid Expenses Training/Wages Supplies Total Current Assets $ $ $ $ $ Non Current Liabilities 40,000.00 Mortgage 12,212.59 Long-Term Borrowings 3,360.00 Total Non Current Liabilities 3,209.33 58,781.92 Total Liabilities $ $ 25,936.75 154,931.78 180,868.53 $ 180,868.53 Non-Current Assets Building Equipment Fencing Office Equipment Company Vehicle Outdoor Equipment Total Long Term Assets Equity 143,348.00 7,307.32 6,323.00 Total Equity 23,000.00 2,397.80 182,376.12 $ $ $ $ $ $ $ $ $ 30,144.75 30,144.75 60,289.51 Total Assets $ 241,158.04 Total Equity & Liabilities $ 241,158.04 2 Start up Costs Number of Items Cost per Item Cost $ 30,000.00 3 $ 49.99 $ 149.97 3 $ 150.00 S 450.00 1 $ 300.00 $ 300.00 1 $ 49.99 $ 49.99 3 $ 799.99 $ 2,399.97 1 $ 499.99 $ 499.99 1 S 30.99 $ 30.99 2 $ 24.99 $ 49.98 1 $ 160.00 $ 160.00 1 $ 299.99 $ 299.99 $ 1,000.00 $ 1,000.00 1 $ 200.00 $ 200.00 1 S 200.00 $ 200.00 $ 100.00 $ 100.00 $ 1,000.00 $ 1,000.00 Total 3 4 Assets 5 Cash 6 Office chairs 7 Office desks 8 Office shelving unit 9 Filling cabinet 10 Computers 11 laptop 12 Printer 13 Recycling and garbage bins 14 Toilet 15 Sink 16 Inventory 17 Website Theme 18 Logo design 19 Marketing 20 Product photos 21 22 23 24 Expenses 25 Domain name 26 Shopify membership 27 Payment Processing 2-3% 28 G suite account 29 Storage unit per month 30 Email marketing software 31 Apps and plugins 32 33 Prepaid rent 34 Phone, internet 35 Security 36 Hydro 37 Enbridge 38 Permits/licensing 39 Employee trainng wages 40 Bookkeeper 41 Term (months) w Cost 12 3 $ $ 3 $ 3 $ 3 $ 3 $ Total Cost 10 $ 120.00 29.99 $ 89.97 1,040.00 $ 1,040.00 5.00 $ 15.00 100.00 $ 300.00 30.00 $ 90.00 200.00 $ 600.00 3 S 3,500.00 $ 10,500.00 3 $ 210.00 $ 630.00 3 $ 55.99 $ 167.97 3 $ 260.00 $ 780.00 3 $ 150.00 $ 450.00 1 $ 2,500.00 $ 2,500.00 120hrs*2 employees $ 16.00 $ 3,840.00 3 $ 500.00 $ 1,500.00 Totala/Month Total start-up cost 42 43 $ Current Assets Cash and Cash Equivalents Prepaid Expenses Training/Wages Supplies Total Current Assets $ $ $ $ $ Non Current Liabilities 40,000.00 Mortgage 12,212.59 Long-Term Borrowings 3,360.00 Total Non Current Liabilities 3,209.33 58,781.92 Total Liabilities $ $ 25,936.75 154,931.78 180,868.53 $ 180,868.53 Non-Current Assets Building Equipment Fencing Office Equipment Company Vehicle Outdoor Equipment Total Long Term Assets Equity 143,348.00 7,307.32 6,323.00 Total Equity 23,000.00 2,397.80 182,376.12 $ $ $ $ $ $ $ $ $ 30,144.75 30,144.75 60,289.51 Total Assets $ 241,158.04 Total Equity & Liabilities $ 241,158.04
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started