Instructions - Simulation Replacement Assignment FinStrit & Budget-1 - Saved to this PC yout References Mailings Review View Help Search AA AA EEEE 2 . A.P.A.EEEEE. . 1 Normal 1 No Space Heading! Heading 2 Heading 3 Tele Paragraph Styles Required: Use the list of transactions on the following page to complete the following: 1. Complete the Horizontal Balance Sheet (excel file available in Canvas) by recording all activity reported by your client lolowing page). 2. Using the completed Horizontal Balance Sheet create an income Statement & Vertical Balance Sheet by using the template provided in the excel file in Canvas). 3. Create a fleable budget that shows expected revenues and expenses at three different volumes of ice cream bors sold using the excel template). Show budgeted not income using actual sales in units owned increase in sales of 25.000 units and assumed increase in sales of 50,000 units a. This should include a profoma income statement with the following Rome i Sales Revenue at a projected sales price of $3.50 per unit at each volume lovel ii. Cost of Goods sold using average purchase price per unit iv. Operating Expenses - Food Costs puled from your Horizontal Balance Sheet V. Net Income vi. Check Figure/Reflection - Does your calculated Net Income agree to your Horizontal Bolonce Shoot for your actual scles column Why or why not? 4. Purchases for desired ending inventory of $25.000, assuming your ending inventory from the horizontal balance sheet is your beginning inventory for budgeting purposes. 5. A brookeven calculation show your work on the excel file of how many bons you need to sol in order to break even All of these items should be clearly identifiable in your submitted file Instructions - Simulation Replacement A l l Plum uuuyet-ULU Search ences Mailings Review View Help Aa-POE EEEE 21 T DA. .. AaBbccDc AaBbcc AaBbc AaBb AaBbCcD 1 Normal 1 No Spac... Heading 1 Heading 2 Heading 3 Styles Paragraph Transaction List: 1. Acquired $500,000 by signing a note payable with a local bank 2. Sold 25,000 shares of $22 par value Common Stock for $1.500.000 3. Purchased Equipment for $300,000 cash 4. Purchased 25.000 units of Inventory on Account at $1.15 per unit 5. Sold 20,000 units at $3.50 on Account 6. Collected $70,000 of accounts receivable 8. Purchased 150,000 Units of Inventory on Account at $1.05 per unit 9. Sold 153.000 units at $3.50 on Account 10. Collected $472.500 of accounts receivable 11.Paid $118.600 of Accounts Payable 12.Purchased 275,000 units of Inventory on Account at $1.35 per unit 13. Sold 215,000 units at $3.50 on Account 14. Collected $735,000 of accounts receivable 15. Paid $294,150 of Accounts Payable 16. Purchased 300,000 Units of Inventory on Account at $1.15 per unit 17. Record Sales & Marketing Expenses of $30,000 (paid in cash) 18. Record Operating Expenses of $75.708 paid in cash) 19. Record Wage Expenses of $40,000 (paid in cash) 20. Record Product Line Research & Development Expenses of $150,000 (poid in cash) 21. Record Advertising Expenses of $87.500 (paid in cash) 22. Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50.000 plus interest each December 31. 23. Record Yr 1 Depreciation on Equipment with Salvage Value of $38.000 and useful life of 7 yrs. (straight-line depreciation) 24.Declared a $10,000 cash dividend for stockholders 25. Paid a $10.000 cash dividend for stockholders BI W Eignin - Autore Simulation Replacement designment Student Template (1) Protected vie. Excel File Home Insert Page Layout Formulas Das Review ViewHelp P Search PROTECTED VW Be carefules from there can contain viruses. Unless you need to loay in Protective Enable Editing X Comments Share US 1 X ---- BRESSESSERIE EFFET PEFFFFFF HHIITTI And 9:51 PM 1 Type here to search Protected view. Bacel File Home insert PROTECTED VIEW Beca Samalien Replacement Ag ent Student Template Page Layout Forms Data Review View Help Search d es from the internet can continues. Unless you need to ent e r to stay in Preded View Share Comments Enable Editing Horizontal Bal Sheet Template Budget Template Finance Type here to search AutoSave Simulation Replacement Assignment - Student Temp File Home Insert Page Layout Formulas Data Review View H elp Search PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected B22 - X Purchases # ) Flexible Budget Actual Units Sold Actual Units Sold + 25.000 Actual Units sold + 50.000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Sales & Marketing Operating costs Wages Research & Dev Advertising Depreciation Exp Interest Expense Net Income Inventory Production Beginning inventory Purchases - Estimated COGS = Desired Ending "use ending inventory from your horizontal balance sheet for beginning 'actual units at average COGS/unit Purchases Breakeven Calevation Horizontal Bal Sheet Template Budget Template Financial Statement Template Type here to search w AutoSaver Simulation Replacement Assignment - Student Templ File Home insert Page Layout Formulas Data R eview View Help Search PROTECTED VIEW Be careful-Hiles from the Internet can contain viruses. Unless you need to edit. it's safe to stay in Protected View B22 1 X Purchases Research & Dev Exp Advertising Depreciation Exp Interest Expense Net Income Inventory Production use ending inventory from your horizontal balance sheet for beginning Beginning inventory Purchases - Estimated COGS Desired Ending *actual units at average COGS/unit Purchases = Breakeven Calcuation BE = FC / (CM/Unit) Horizontal Bal Sheet Template Budget Template Financial Statement Template 1 Type here to search w @ x File Home met PROTECTIO VIIW bew Samletion Replacement Anger-Sudent Template (1) Protected Viewice Page Layout Formulas Dua Review View Search e strom these can continues you need to d o to stay in Protected Enable Editing edwin Tot e s and Stockhoden Sheet Template Budget Temp r andial Stateme # O Type here to search Instructions - Simulation Replacement Assignment FinStrit & Budget-1 - Saved to this PC yout References Mailings Review View Help Search AA AA EEEE 2 . A.P.A.EEEEE. . 1 Normal 1 No Space Heading! Heading 2 Heading 3 Tele Paragraph Styles Required: Use the list of transactions on the following page to complete the following: 1. Complete the Horizontal Balance Sheet (excel file available in Canvas) by recording all activity reported by your client lolowing page). 2. Using the completed Horizontal Balance Sheet create an income Statement & Vertical Balance Sheet by using the template provided in the excel file in Canvas). 3. Create a fleable budget that shows expected revenues and expenses at three different volumes of ice cream bors sold using the excel template). Show budgeted not income using actual sales in units owned increase in sales of 25.000 units and assumed increase in sales of 50,000 units a. This should include a profoma income statement with the following Rome i Sales Revenue at a projected sales price of $3.50 per unit at each volume lovel ii. Cost of Goods sold using average purchase price per unit iv. Operating Expenses - Food Costs puled from your Horizontal Balance Sheet V. Net Income vi. Check Figure/Reflection - Does your calculated Net Income agree to your Horizontal Bolonce Shoot for your actual scles column Why or why not? 4. Purchases for desired ending inventory of $25.000, assuming your ending inventory from the horizontal balance sheet is your beginning inventory for budgeting purposes. 5. A brookeven calculation show your work on the excel file of how many bons you need to sol in order to break even All of these items should be clearly identifiable in your submitted file Instructions - Simulation Replacement A l l Plum uuuyet-ULU Search ences Mailings Review View Help Aa-POE EEEE 21 T DA. .. AaBbccDc AaBbcc AaBbc AaBb AaBbCcD 1 Normal 1 No Spac... Heading 1 Heading 2 Heading 3 Styles Paragraph Transaction List: 1. Acquired $500,000 by signing a note payable with a local bank 2. Sold 25,000 shares of $22 par value Common Stock for $1.500.000 3. Purchased Equipment for $300,000 cash 4. Purchased 25.000 units of Inventory on Account at $1.15 per unit 5. Sold 20,000 units at $3.50 on Account 6. Collected $70,000 of accounts receivable 8. Purchased 150,000 Units of Inventory on Account at $1.05 per unit 9. Sold 153.000 units at $3.50 on Account 10. Collected $472.500 of accounts receivable 11.Paid $118.600 of Accounts Payable 12.Purchased 275,000 units of Inventory on Account at $1.35 per unit 13. Sold 215,000 units at $3.50 on Account 14. Collected $735,000 of accounts receivable 15. Paid $294,150 of Accounts Payable 16. Purchased 300,000 Units of Inventory on Account at $1.15 per unit 17. Record Sales & Marketing Expenses of $30,000 (paid in cash) 18. Record Operating Expenses of $75.708 paid in cash) 19. Record Wage Expenses of $40,000 (paid in cash) 20. Record Product Line Research & Development Expenses of $150,000 (poid in cash) 21. Record Advertising Expenses of $87.500 (paid in cash) 22. Made the yearly required payment on the note payable. The note carries a 7% interest rate and requires payments of $50.000 plus interest each December 31. 23. Record Yr 1 Depreciation on Equipment with Salvage Value of $38.000 and useful life of 7 yrs. (straight-line depreciation) 24.Declared a $10,000 cash dividend for stockholders 25. Paid a $10.000 cash dividend for stockholders BI W Eignin - Autore Simulation Replacement designment Student Template (1) Protected vie. Excel File Home Insert Page Layout Formulas Das Review ViewHelp P Search PROTECTED VW Be carefules from there can contain viruses. Unless you need to loay in Protective Enable Editing X Comments Share US 1 X ---- BRESSESSERIE EFFET PEFFFFFF HHIITTI And 9:51 PM 1 Type here to search Protected view. Bacel File Home insert PROTECTED VIEW Beca Samalien Replacement Ag ent Student Template Page Layout Forms Data Review View Help Search d es from the internet can continues. Unless you need to ent e r to stay in Preded View Share Comments Enable Editing Horizontal Bal Sheet Template Budget Template Finance Type here to search AutoSave Simulation Replacement Assignment - Student Temp File Home Insert Page Layout Formulas Data Review View H elp Search PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected B22 - X Purchases # ) Flexible Budget Actual Units Sold Actual Units Sold + 25.000 Actual Units sold + 50.000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Sales & Marketing Operating costs Wages Research & Dev Advertising Depreciation Exp Interest Expense Net Income Inventory Production Beginning inventory Purchases - Estimated COGS = Desired Ending "use ending inventory from your horizontal balance sheet for beginning 'actual units at average COGS/unit Purchases Breakeven Calevation Horizontal Bal Sheet Template Budget Template Financial Statement Template Type here to search w AutoSaver Simulation Replacement Assignment - Student Templ File Home insert Page Layout Formulas Data R eview View Help Search PROTECTED VIEW Be careful-Hiles from the Internet can contain viruses. Unless you need to edit. it's safe to stay in Protected View B22 1 X Purchases Research & Dev Exp Advertising Depreciation Exp Interest Expense Net Income Inventory Production use ending inventory from your horizontal balance sheet for beginning Beginning inventory Purchases - Estimated COGS Desired Ending *actual units at average COGS/unit Purchases = Breakeven Calcuation BE = FC / (CM/Unit) Horizontal Bal Sheet Template Budget Template Financial Statement Template 1 Type here to search w @ x File Home met PROTECTIO VIIW bew Samletion Replacement Anger-Sudent Template (1) Protected Viewice Page Layout Formulas Dua Review View Search e strom these can continues you need to d o to stay in Protected Enable Editing edwin Tot e s and Stockhoden Sheet Template Budget Temp r andial Stateme # O Type here to search