Question
Start-up summary. I have to create a start-up summary with estimated coats, start-up assets, and total start-up funding. I am having difficulty making the numbers
Start-up summary. I have to create a start-up summary with estimated coats, start-up assets, and total start-up funding. I am having difficulty making the numbers meet up, so I need some help completing all of them correctly. Say, for example, I am opening an appraisal company. I have created my start-up costs for the first six months, costing $17,800. Now say I want to personally invest or use $20,000 so I do not have to take out loans, I want to fund it myself. So if I have $20,000 and my start up costs only $17,800, technically I would have $2,200 left in case. In my start-up funding catagory (the last one) something isn't adding up with my expenses and assets, I need help making it all match. Please help me.
A.M. Corporations First 6 Months Start-Up | Estimated Costs |
Office Cost (6 months) | $1,000/month *6=$6,000 |
Office Equipment- (Computer, pens, SD cards, printer, ink, tape, staples, envelope, ect) | $2,000 |
Appraisal License | $1600 |
Company Registration (filing fee, registered agent, business license, ect) | $350 |
New business casual, formal clothing (One-Time) | $400 |
Business cards- Pack of 1,000 | $50 |
Advertising (6 months) | $800 |
Errors and Omissions, Business Insurance (6 months) | $100/month * 6 =$600 |
Contingencies and Emergencies Fund-30% | $6,000 |
TOTAL ESTIMATE | $17,800 |
Start-Up Assets
| |
Cash required | $20,000 |
Long-term Assets | $0 |
Other Current Assets | $2,000 |
TOTAL ASSETS | $22,000 |
A.M. Corporations Start-Up Funding
| |
Start Up Expenses to Fund | $17,800 |
Start Up Assets to Fund | $20,000 |
Total Funding Required | $37,800 |
|
|
Assets |
|
Cash Requirement to Start (Total assets) | $20,000 |
Other Current Assets | $2,000 |
Additional Cash Raised | $0 |
Total Assets | $22,000 |
|
|
Liabilities and Capital |
|
Current Borrowing | $0 |
Long Term Liabilities | $17,800 |
Other Current Liabilities | $0 |
Total Liabilities | $17,800 |
|
|
Capital |
|
Personal Investment | $20,000 |
Investors | $0 |
Other | $0 |
Total Capital | $20,000 |
|
|
Loss at Start Up (Start-Up Expense) | ($17,800) |
Total Capital | $0 |
Total Capital and Liabilities | $22,000 |
Total Funding | $39,800 |
Here is an example of another company to help for reference.
I tried to follow the example but I did something wrong. Please help me out. My start-up costs are $17,800 and I wanted to say my personal investment to start-up the business would be $20,000, so I need help creating the correct funding statements. Thank you!
Something Sweet Bakery Start Up Requirements Start up Expenses Bakery Rental Space (monthly) Doyon Baking Stove Curved Glass Display Case Garland Stove Range Kitchen Aid Mixer Tables and Chairs Cash Registers Dishes, Pans, Pots, Silverware Pre-opening Salaries (two weeks' worth pay) Advertising Phone System Dcor Menu Printing Utilities and Deposits (two months worth) Food and Beverage Industrial Dishwashers Industrial Fans for stoves Contingencies and emergencies (cash reserves) Legal Insurance Music/stereo/TV Total Start up Expense: $4,500 $20,000 $15,000 $5,000 $3,000 $5,000 $3,000 $3,000 $14,500 $5,000 $500 $5,000 $150 $2,000 $12,000 $20,000 $50,000 $70,000 $3,000 $3,000 $4.000 $255,650 Start Up Assets Cash Required Other Current Assets Long-term Assets Total Assets $55,0000 SO SO $55,000 Total Requirements $310,650 Something Sweet Bakery Start Up Funding Start up Expenses to Fund Start up Assets to Fund Total Funding Request $255,650 $55,000 $310,650 Assets Non-Cash Assets from Start-Up Cash Requirement from Start-Up Additional Cash Raised Cash Balance on Starting Date Total Assets SO $55,000 SO $55.000 $55,000 Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (Interest Free) Total Liabilities SO $255,650 $0 $0 $255,650 Capital Planned Investment Jack and Jill Investors Other Additional Investment Required Total Planned Investment $55,000 SO $0 $0 $55.000 Loss at Start Up (Start-up Expense) Total Capital ($255,650) $0 7 Total Capital and Liabilities Total Funding $55,000 $310,650 Something Sweet Bakery Start Up Requirements Start up Expenses Bakery Rental Space (monthly) Doyon Baking Stove Curved Glass Display Case Garland Stove Range Kitchen Aid Mixer Tables and Chairs Cash Registers Dishes, Pans, Pots, Silverware Pre-opening Salaries (two weeks' worth pay) Advertising Phone System Dcor Menu Printing Utilities and Deposits (two months worth) Food and Beverage Industrial Dishwashers Industrial Fans for stoves Contingencies and emergencies (cash reserves) Legal Insurance Music/stereo/TV Total Start up Expense: $4,500 $20,000 $15,000 $5,000 $3,000 $5,000 $3,000 $3,000 $14,500 $5,000 $500 $5,000 $150 $2,000 $12,000 $20,000 $50,000 $70,000 $3,000 $3,000 $4.000 $255,650 Start Up Assets Cash Required Other Current Assets Long-term Assets Total Assets $55,0000 SO SO $55,000 Total Requirements $310,650 Something Sweet Bakery Start Up Funding Start up Expenses to Fund Start up Assets to Fund Total Funding Request $255,650 $55,000 $310,650 Assets Non-Cash Assets from Start-Up Cash Requirement from Start-Up Additional Cash Raised Cash Balance on Starting Date Total Assets SO $55,000 SO $55.000 $55,000 Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (Interest Free) Total Liabilities SO $255,650 $0 $0 $255,650 Capital Planned Investment Jack and Jill Investors Other Additional Investment Required Total Planned Investment $55,000 SO $0 $0 $55.000 Loss at Start Up (Start-up Expense) Total Capital ($255,650) $0 7 Total Capital and Liabilities Total Funding $55,000 $310,650Step by Step Solution
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