The cost of renting 50 parking spots will be 24000Bd per year , the website incurs monthly
Question:
The cost of renting 50 parking spots will be 24000Bd per year , the website incurs monthly expenses of 500per year, yearly expenses of 500bd for maintenance, purchased of 2 machines (Came Barrier G4000) for 914bd at the start of operations. Other operational costs 8000Bd per year. That's will be a total of 33,914 Bd.
For the revenue Out2Spot charges based on spot location and the duration, providing 50 parking spots charged per hour, Spot location 1bd for premium parking which is front raw, 0.700bd gold parking which is in the model, and 0.100bd standard parking. For premium it charges 1bd for reserving a spot for an hour, 2bd for 2hours, 3bd for3hours, 4bd for 4hours, 5bd for 5hours and 6bd for 6hours. people usually spent approximately between 4 to 6 hours in the mall at the weekend and 3 to 4 hours during the week. The revenue forecasted to be 340Bd per day which is 124,100 so business will break-even from the 1st year.
Question:
Based on the previous information make the upcoming charts:
1- Opening Day Balance Sheet
| Opening Day Balance Sheet - 100 points to fill out | ||
| Out2Spot | ||
| Assets | ||
| Current Assets | ||
| Cash in Bank | ||
| Inventory | - | |
| Prepaid Expenses | - | |
| Other | - | |
| Total Current Assets | ||
| Fixed Assets | ||
| Machinery & Equipment | ||
| Furniture & Fixtures | - | |
| Leasehold Improvements | - | |
| Real Estate / Buildings | - | |
| Other | - | |
| Total Fixed Assets | ||
| Other Assets | ||
| Specify | $ - | |
| Specify | - | |
| Total Other Assets | $ - | |
| Total Assets | ||
| Liabilities & Net Worth | ||
| Current Liabilities | ||
| Accounts Payable | $ - | |
| Taxes Payable | - | |
| Notes Payable (due within 12 months) | - | |
| Current Portion Long-term Debt | - | |
| Other current liabilities | - | |
| Slot Rent | ||
| Maintenance | ||
| Total Current Liabilities | ||
| Long-term Liabilities | ||
| Bank Loans Payable (greater than 12 months) | $ - | |
| Less: Short-term Portion | - | |
| Notes Payable to Stockholders | - | |
| Other long-term debt (specify) | - | |
| Total Long-term Liabilities | $ - | |
| Total Liabilities | ||
| Owners' Equity (Net Worth) | ||
| Total Liabilities & Net Worth | 0 |
Expert Answer:
To create the Opening Day Balance Sheet for Out2Spot based on the provided information lets organize the assets liabilities and owners equity Out2Spot ... View the full answer
