Provide an example of how to write a financial plan for a new appliance repair business. Include

Fantastic news! We've Found the answer you've been seeking!

Question:

Provide an example of how to write a financial plan for a new appliance repair business.

Include a balance sheet and an income statement.

Explain your reasoning behind each of the items.
Balance Sheet
Capital Investment
Income Statement
Revenue: Sales
Expenses:
Cost of goods sold
Operating expenses
Interest expense (Capital Investment)
Gross profit
Taxes
Net Profit

Related Book For answer-question

Managing Information Technology

ISBN: 978-0132146326

7th Edition

Authors: Carol Brown, Daniel DeHayes, Jeffrey Hoffer, Wainright Marti

See More Books

Posted Date: May 21, 2022 12:34 AM

See More Questions

A comparative balance sheet and an income statement for Blankley Company are given below: Blankley Company Income Statement (dollars in millions) Sales . . . . . . . . . . . . . . . . . . . . . . . ....
A comparative balance sheet and an income statement for Burgess Company are given below: Burgess also provided the following information: 1. The company sold equipment that had an original cost of $...
Provide an example of how general economic trends would affect sales forecasting in the airline industry.
How many bits are needed to digitally record 90 seconds of your favorite music tune? The sampling rate commonly used for music is 44.1 kHz (i.e. 44100 Hz). Each sample is represented using 16 bits....
On October 23, Johnson Company purchased $100,000 of inventory on credit with payment terms of 1/15, net 45. Using the net price method, prepare journal entries to record Johnson Companys purchases...
Compare the graph of y = -x5 to the graph of y = -x5 + 5x3 - 5x + 2 in the following two viewing windows: (A) -5 x 5, -5 y 5 (B) -5 x 5. -500 y 500
Repeat the numerical integration in Example 15-5, except use the quadrature formula, Eq. $(9-12)$ Example 5-5 Equation (9-12) A steady-state system of ethanol and water has equimolar...
Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver...
Lilies, a flower shop, has the following data for the most recent fiscal year: Fixed Costs $2,300/month Variable Costs (per unit): Packets $ 0.75 Dcor $ 3.00 Misc $ 2.00 Sales Price $50.00 What is...
The following diagram represents a high-temperature reaction between CH4 and H2O. Based on this reaction, how many moles of each product can be obtained starting with 4.0 mol CH4?
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable $529 Fees Earned $2,945 Accounts receivable 681 Insurance Expense 443...
Discuss how does culture affect individual difference in decision making process. (20 marks Question)
Culture influences the negotiation styles used in international business negotiations." Briefly describe the typical negotiation styles of negotiators from: Individualistic countries Collectivistic...
How are negotiations between teams different from negotiations between individuals?
Maryanne is the President of a company that makes lamps. In order to be profitable, lamps can cost no more than $2.50 to make. Maryanne's company has spent the last year creating a new lamp (costing...
The perceived value of products varies in Eastern and Western cultures. What are the most significant differences in factors that influence perceived value in Eastern and Western cultures? How do...
What are the three basic control structures used in programming?
The unadjusted trial balance of Secretarial Services is as follows: SECRETARIAL SERVICES Unadjusted Trial Balance as at 31 December 2017 Account Debit Credit Cash at bank Office supplies Prepaid...
Analyze how candidates in a current political election appear to be leveraging the Internet as part of their campaigns, or not.
If a person has been certified by the PMI but has never been on an IT project team, would you even consider hiring that person to manage an IT project? Justify your answer.
Based on your reading and knowledge from other sources, in what ways has the phenomenon of the Internet influenced office automation?
Whistle-blowers often question themselves as to whether they are doing the right thing. Terms such as snitch and tattletale are often associated with an individual who exposes wrongdoing. Do you...
The Claremont Corporation invests its excess cash in low-risk, dividend-paying equity securities until such funds are needed to support operations. At the beginning of the year, the companys...
The 2015 annual report of Bristol-Myers Squibb (BMS) reveals that the company maintains a large investment in available-for-sale securities: Did the companys available-for-sale securities experience...

Provide an example of how to write a financial plan for a new appliance repair business. Include

Question:

Expert Answer:

The first step to writing a financial plan is to identify your financial goals These goals should be aligned with your longterm and shortterm goals Is your goal to build a business save money for coll... View the full answer

Managing Information Technology

Students also viewed these accounting questions