PLEASE SHOW CALCULATIONS IN EXCEL:
an entreprenuer and an angel investor with $100,000 to invest plan to open a retail store called Affordably Haute on October 1,2020, following a four-month start-up phase. using the schedule of start-up costs provided below, complete the pro forma pre-revenue balance sheet and pro forma start-up phase expense statement, including reconciliations of cash and owners' equity, included below for Affordably Haute Apparel
Shoppe, LLC>
Affordably Haute Apparel Shoppe, LLC Schedule of Start-up Costs June 2020 July 2020 August 2020 September 2020 For the Four Months Ended September 30, 2020 $2.500 275 500 500 5.000 $2,500 275 250 300 4,000 Rent Utilities Insurance Cleaning and maintenance Store design and decoration Clothing inventory Accessories inventory Checkout counters and furniture Clothing racks and shelving Computers and software Security system Total $2,500 275 250 300 3,000 12,000 3,000 8,500 6,000 10,000 $2.500 275 250 300 2,000 15.500 5,500 $10,000 1.100 1.250 1.200 14,000 27.500 8,500 8,500 9,000 10,000 5,000 $96,050 3,000 $8,575 5.000 $12,325 $45,825 $29,325 Notes: Rent is paid on the first day of the month to which it applies. Utilities are paid in the month after the services are used. Insurance is paid in the month previous to the month to which it applies. All other costs are paid in the same month as incurred. Store design and decoration expense will terminate in September 2020. Affordably Haute Apparel Shoppe, LLC Pro Forma Pre-Revenue Balance Sheet As of September 30, 2020 Affordably Haute Apparel Shoppe, LLC Pro Forma Start-up Phase Expense Statement, Including Reconciliations of Cash and Owners' Equity For the Four Months Ended September 30, 2020 Cash Prepaid insurance Clothing inventory Accessories inventory Total current assets Rent Utilities Insurance Less Prepaid insurance Checkout counters and furniture Clothing racks and shelving Computers and software Security system Total fixed assets Cleaning and maintenance Store design and decoration Start-up phase expenses Less Utilities payable Total cash outlays for expenses Reconciliation of Cash: Beginning cash Less Cash outlays for assets Less Cash outlays for expenses Ending cash Total assets Utilities payable Total liabilities Owners' equity Total liabilities and owners' equity Reconciliation of Owners' Equity: Beginning owners' equity Less: Start-up phase expenses Ending owners' equity Affordably Haute Apparel Shoppe, LLC Schedule of Start-up Costs June 2020 July 2020 August 2020 September 2020 For the Four Months Ended September 30, 2020 $2.500 275 500 500 5.000 $2,500 275 250 300 4,000 Rent Utilities Insurance Cleaning and maintenance Store design and decoration Clothing inventory Accessories inventory Checkout counters and furniture Clothing racks and shelving Computers and software Security system Total $2,500 275 250 300 3,000 12,000 3,000 8,500 6,000 10,000 $2.500 275 250 300 2,000 15.500 5,500 $10,000 1.100 1.250 1.200 14,000 27.500 8,500 8,500 9,000 10,000 5,000 $96,050 3,000 $8,575 5.000 $12,325 $45,825 $29,325 Notes: Rent is paid on the first day of the month to which it applies. Utilities are paid in the month after the services are used. Insurance is paid in the month previous to the month to which it applies. All other costs are paid in the same month as incurred. Store design and decoration expense will terminate in September 2020. Affordably Haute Apparel Shoppe, LLC Pro Forma Pre-Revenue Balance Sheet As of September 30, 2020 Affordably Haute Apparel Shoppe, LLC Pro Forma Start-up Phase Expense Statement, Including Reconciliations of Cash and Owners' Equity For the Four Months Ended September 30, 2020 Cash Prepaid insurance Clothing inventory Accessories inventory Total current assets Rent Utilities Insurance Less Prepaid insurance Checkout counters and furniture Clothing racks and shelving Computers and software Security system Total fixed assets Cleaning and maintenance Store design and decoration Start-up phase expenses Less Utilities payable Total cash outlays for expenses Reconciliation of Cash: Beginning cash Less Cash outlays for assets Less Cash outlays for expenses Ending cash Total assets Utilities payable Total liabilities Owners' equity Total liabilities and owners' equity Reconciliation of Owners' Equity: Beginning owners' equity Less: Start-up phase expenses Ending owners' equity
