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Hello can anyone help me with this problem? It is due Sunday April 9, 2017 Question: I need to create a Master budget in excel.
Hello can anyone help me with this problem? It is due Sunday April 9, 2017
Question: I need to create a Master budget in excel. Here is the data I have; Here is the other financial information: Cash in Checking: $7,000; Petty Cash: $300; Outstanding mortgage: $360,000; Accts Payable arising from invoices for supplies and utilities that are unpaid as of October 31, 2017and due in November ,2017: $2,500; no other un paid bills existed on October 31, 2017. The club purchased $25,000 worth of excersise equipment during the current fiscal year . Cash payment of $10,000 was paid at delivery with balance due on October 1. This amount has not been paid as of October 31, 2017. An additional $25,000 (cash) of equipment purchases is planned for the following year. The Club began operations in 2013 in a rental property; it purchased its current property (land & building) for $600,000 paying $120,000 down aqnd agreeing to pay $30,000 plus 9% interest annually on the unpaid balance each November 1, starting November 1, 2014. Membership rose 3% in 2017. The club has experienced approximately this same annual growth rate since it opened and this growth rate is expected to continue in the future. Membership fees increased by 15% in 2017. The board has tentative plans to increase these fees by 10% in 2018. Lesson and Class fees has not been increased for three years. The boards policy is to encourage classes and lessons by keeping the fees low. The members have taken advantage of this policy and the number of classes and lessons has increased each year. The club expects the percentage of growth experience in 2017 to continue into 2018, Miscellaneous revenues are expected to grow at the same rate as 2017. Operating expenses are expected to increase: Hourly wage rates and manager's salary : 15% Towels& supplies, utilities and miscellaneous expenses :25% Required: 1. prepare a cash budget for 2018 for the Triple -F health club 2. Identify any operating problems that this budget disclosed for the Triple-F Health club. Explain your answer, and 3. Is Jane Crowe's concern that the boards goals are unrealistic justified? Explain your answer. Use excel to construct a comprehensive master budget word paper 5-7 pg and excel sheet with the master budget, cash budget ,operations budget and balance sheetStep by Step Solution
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