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Question 1: Our start-up IFix is earning from roadside services supplied to customer. IFix uses outsourced partners to supply this service. So customers pay to

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Question 1: Our start-up IFix is earning from roadside services supplied to customer. IFix uses outsourced partners to supply this service. So customers pay to IFix and Ifix pays some of it to partners. Moreover, Ifix has spending's with fixed and variable costs. Ifix has a core team for all operations and uses temporary workers for the call center with a payment per call method. We are at the end of 2020 preparing our budget for 2021. With the assumptions and input below, please prepare an income statement and Cash flow estimation for the end of 2021. Please show your calculations. INPUT / ESTIMATIONS Average Price of each service Average cost of each service Total 8 of permanent employees Average total cost per employee Cost of temporaries per call # of calls received every month Total monthly Overheads (rent, electricity, food, security, IT, etc) Debts to banks interest liability Tax Rate Amortization (for complete 2020) Company policy for profit distribution # of services month Turnover rate in employees 2500TL 1750TL 8 people 9.000 TL 5 TL 10.000 calls 65.000TL OTL 22% 500.000TL %25 of EAT 1000 0% Cash Flow related inputs: - Payment term (collection) for services sold is 30 days but we pay to partners in 60 days. - Payment of all employee wages, call center and overheads: Within same month. - Cash in hand on 01.01.2021 is 1.000.000TL, No cash to receive from previous years - No debt to any bank or other 3rd party. - No investment, Consider no tax or dividend payment. Your Income statement will look like 2021 - Estimated Revenue Cost of employees Cost of temporaries Overheads EBITDA Amortization EBIT Interest EBT Tax at %22 Profit after tax Dividends to shareholders Retained profit Your Cash Flow statement will look like 2 3 4 5 8 9 10 11 12 Opening Balance Cash in Cash Out Closing Balance . Question 2: We are now at the end of the year and have actual (realized) figures. The deviations from your initial plan are listed as below: Average price of each service did not reach your target price and stayed at 2290TL Average cost of each service also did not stay at the target and reached to 1845TL. The total number of services started from 100 in January and only achieved a %25 monthly growth rate. Average cost of employee was as planned. # of employees were 5 in January but 1 employee added every 3 months so we ended the year with 8. We realized that we received calls for only %20 of the services. Our overheads were higher than estimated. We spent in average %10 more than budget. Partners do not accept 60 days period term so you pay them as you collect so in 30days. Please prepare a real income statement and cash flow statement for the 2021. For Income statement put them side by side with estimated figures so your comparison table will look like: 2021 Estimated Actual Revenue Cost of employees Cost of temporaries Overheads EBITDA Amortization EBIT Interest EBT Taxat%22 Profit after tax Dividends to shareholders Retained profit Cash flow table to look like the previous one but with actual figures. PS: Y may ignore the decimals (do not cancel de als. Such as for commercials per month assume that we can take 35,2 commercials! No need to use integers). The final income statement table shall be as above but please also send the calculations behind

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