Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is a new company. Question: create a income budget / profit and loss budget, for the companys first year. The budget should have all

image text in transcribed

This is a new company. Question: create a income budget / profit and loss budget, for the companys first year. The budget should have all quarters, so: Q1, Q2, Q3, Q4 and year 1.

To the comment: there is no info specifically about fixed assets, but could it be investments in inventories? Besides the deprecitation is already stated, which is 5 years.

Loan 500 000 MAD 1 January Repayment period/ amortization time 8 years Interest rate 4% Interest rate and amortization will be paid : 30 June and 31 December Owner's contribution 100 000 MAD Will be paid 1 January Investments in inventories 280 000 MAD At the beginning of the year 5 years 27 000 MAD month 65 000 MAD month Depreciation Local costs Cash payment Administration & marketing Cash payment Customer credit 30 45 6 USD/piece days average days average 450 pieces bought in every month on credit Provider credit Purchase price of the product 285 MAD / piece Sales price of the product USD rate 8.20 MAD for each USD 8.20 MAD 1 USD Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales volume 600 MAD 1300 MAD 1500 MAD 1600 MAD

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Audit In Health Care To Avoid Disallowances Literature Review

Authors: Ana P. Alves De Asevedo

1st Edition

6206120406, 978-6206120407

More Books

Students also viewed these Accounting questions