Question
Part 4 Using the Score Financial Projections Template (See Below) analyze the pictures in their entirety for any aspects that may not be obvious to
Part 4 Using the Score Financial Projections Template (See Below) analyze the pictures in their entirety for any aspects that may not be obvious to the common financial statement user. Explain each of these areas of possible confusion. Please label each section of confusion by the highlighted label on each excel sheet. The spreadsheet did not show up on word like I wanted it to. If the person looking at this would like a copy of the excel spreadsheet I would be happy to send it to them.
Payroll Years 1-3 | |||||
Prepared By: | Company Name: | ||||
Owner | Company 1 | ||||
Employee Types | Year 1 Totals | Growth Rate 1 to 2 | Second Year | Growth Rate 2 to 3 | Third Year |
Owner(s) | 35,360 | 20.0% | 42,432 | 30.0% | 55,162 |
Full-Time Employees | 31,200 | 20.0% | 37,440 | 30.0% | 48,672 |
Part-Time Employees | 24,960 | 10.0% | 27,456 | 30.0% | 35,693 |
Independent Contractors | - | 3.0% | - | 3.0% | - |
Total Salaries and Wages | $ 91,520 |
| $ 107,328 |
| $ 139,526 |
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|
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|
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Payroll Taxes and Benefits |
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|
|
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Social Security | 5,674 | 20.0% | 6,809 | 30.0% | 8,852 |
Medicare | 1,327 | 20.0% | 1,592 | 30.0% | 2,070 |
Federal Unemployment Tax (FUTA) | 210 | 20.0% | 252 | 30.0% | 328 |
State Unemployment Tax (SUTA) | 1,208 | 20.0% | 1,449 | 30.0% | 1,884 |
Employee Pension Programs | - | 0.0% | - | 0.0% | - |
Worker's Compensation | - | 3.0% | - | 3.0% | - |
Employee Health Insurance | - | 3.0% | - | 3.0% | - |
Other Employee Benefit Programs | - | 10.0% | - | 10.0% | - |
Total Payroll Taxes and Benefits | $ 8,419 |
| $ 10,103 |
| $ 13,133 |
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Total Salaries and Related Expenses | $ 99,939 |
| $ 117,431 |
| $ 152,660 |
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