Question
Utilizing the attached balance sheet, create a memo to the Board of Directors regarding the budget proposal for next fiscal year. I need help figuring
Utilizing the attached balance sheet, create a memo to the Board of Directors regarding the budget proposal for next fiscal year. I need help figuring out this assigment.
Create a memo that identifies the three major areas of concern over the past year. For each of the three areas of concern: Use the memo template in Microsoft Word (or another template) to format the memo. Summarize the current status in 75 words or less. Recommend one possible solution for improvement or sustainability for the Board to consider when voting to approve next years budget. ASSETS | 2016 | 2017 | |
Current Assets: | |||
Cash and cash equivalents | $125,000 | $200000 | |
Short-term investments | $575 | $600 | |
Accounts receivable | $1500 | $1700 | |
Inventories | $135 | $150 | |
Total Current Assets | $127210 | $202450 | |
Investments: | $800 | $850 | |
Property & Equipment: | |||
Medical equipment | $600 | $650 | |
Office equipment | $250 | $800 | |
Total | $850 | $1450 | |
Accumulated depreciation | ($126) | ($135) | |
Total Assets: | $128734 | $204615 | |
LIABILITIES & EQUITY | |||
Current Liabilities: | |||
Salaries | $175000 | $225000 | |
Benefits | $1750 | $2500 | |
Accrued expenses | $1100 | $1200 | |
Bad debt | $375 | $1500 | |
Total current liabilities | $178225 | $230200 | |
Long-Term Debt | $1500 | $1500 | |
Total Liabilities & Equity | $179725 | $231700 |
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