So far the owner have contributed one hundred and sixty 7,000 dollars ($167.000) as an initial investment. REQUIRED ASSETS . Cash Accounts Receivable Inventory Long Term Assets INITIAL BALANCE SHEET TRAVELVACATIONS & CO. BALANCE SHEET PARTICULARS ASSETS: CURRENT ASSETS Cash Accounts Receivable Inventory Other Current Assels TOTAL CURRENT ASSETS LONG TERM ASSETS AMOUNT (S) AMOUNT (S) $81,696 $41,300 $9,240 SO $132,236 Long Term Assets Accumulated Assets TOTAL LONG TERM ASSERS TOTAL ASSETS LIABILITIES AND CAPITAL: CURRENT LIABILITIES Accounts Payable Current Borrowing Other Current Liabilities SUBTOTAL CURRENT LIABILITIES Long-Term Liabilities TOTAL LIABILITIES Paid-in Capital Retained Earnings Earnings TOTAL CAPITAL TOTAL LIABILITIES AND CAPITAL Net Worth $167,000 50 $18,134 $0 $0 SO $202,000 ($5,000) $84,101 $167,000 $299,236 $18,134 $18,134 $281,101 $299,236 $281,101 SECTION II: . CALCULATE THE BREAKEVEN OF THE TOUR OPERATING COMPANY TRAVELACATIONS O CO^ - Read-only 8 Read Only - You can't save changes to t... SECTION III: AL BUDGETING OF TOUR OPERATING COMPANY . SALES BUDGET OF THE COMPANY Sales in unit (tour to be made) Sales price (tour price) TOTAL SALES REVENUE Less: Discount TOTAL NET SALES **l 70% 10:08 pm Revenue Sales Revenue PARTICULARS PARTICULARS TOTAL REVENUE EXPENSES Advertisement Expenses Administration Expenses OPERATIONAL BUDGET OF THE COMPANY Other Expenses TOTAL EXPENSES EXCESS OR DEFICIT SECTION IV: SALES BUDGET OPERATIONAL BUDGET 16000 134000 150000 AMOUNT (S) 1500 500 1000 3000 Deficit 67 2000S 134000 (12000) 122000 AMOUNT ($) BUDGETED INCOME STATEMENT OF THE COMPANY Read Only - You can't save changes to t... PARTICULARS BUDGETED INCOME STATEMENT Sales Less: Cost of Goods Sold GROSS PROFIT LESS: OPERATING EXPENSES Administration Expenses Advertisement Expenses Other Expenses Discounts Total Expenses NET INCOME PARTICULARS ASSETS: CURRENT ASSETS Cash Accounts Receivable Inventory Other Current Assets TOTAL CURRENT ASSETS LONG TERM ASSETS Long Term Assets Accumulated Assets . BUDGETED BALANCE SHEET OF THE COMPANY TOTAL LONG TERM ASSERS TOTAL ASSETS 122000 (18000) 104000 LIABILITIES AND CAPITAL: CURRENT LIABILITIES Accounts Payable Current Borrowing Other Current Liabilities. 500 1500 1000 12000 (15000) 89000 TRAVELACATIONS & CO. BUDGETED BALANCE SHEET Dl 70% 10:08 pm SUBTOTAL CURRENT LIABILITIES Long-Term Liabilities TOTAL LIABILITIES Paid-in Capital Retained Earnings Earnings. TOTAL CAPITAL TOTAL LIABILITIES AND CAPITAL AMOUNT (S) AMOUNT (S) 95000 50000 AMOUNT (S) 12000 1000 167000$ 0 $28134 $6000 $6866 SO $202000 (8000) $90000 158000 $167000 $325000 $41000 $41000 $284000 $325000