Prepare a projected monthly departmental budget for the first 3 months of operation of the mobile food truck. You will set up two (2) departments – Food and Drinks - showing your projected revenue, cost of goods sold and expenses. In an attached schedule, calculations of how each month’s revenue was derived will be shown, along with calculations of depreciation of non-current assets and the method used to calculate depreciation. A schedule identifying the business’s fixed costs will also be prepared.

Create a Chart of Accounts and open T accounts for the projected revenues, purchases of materials and expenses. Balance the T Accounts at the end of the 3 months. – 10 MARKS

Prepare a Projected Unadjusted Trial Balance as at December 31^st 2021.

Prepare any projected adjusting entries needed at the end of December 31^st 2021

(including Depreciation and Ending Inventory) 

Prepare a Projected Adjusted Trial Balance as at December 31^st 2021.