Based on the following information, what is the year 1 income statement, Balance sheet end of year
Fantastic news! We've Found the answer you've been seeking!
Question:
Based on the following information, what is the year 1 income statement, Balance sheet end of year 1, Year 1 cash flow, and must sell in order to sell to break even. ?I have uploaded the template to follow?
Transcribed Image Text:
Transaction # 9 # of Tour Groups Forecasted to Sell 9 # of Students Per Tour Group Total Number of Students Expected to Travel Total Revenue Total Revenue Per Tour Group Total Revenue Per Student Revenue 9 Tour Revenue 10 Trip Cancellation Insurance 11 Trip Cancellation Penalty Total Revenue 3 14 15 13 Cost of Goods/Services Sold 12 Tour COGS 10 Trip Cancellation Insurance COGS Total COGS GROSS MARGIN Operating Expenses Facility Rent Salaries Benefits Sales Commission Expenses Marketing Collateral Usage Marketing & Advertising Expense 17 6 Computer Equipment Rent/Lease 7 Other Operating Expense Depreciation & Amortization Total Operating Expenses Operating Income (Before Tax) EBITDA 8 Other: Interest (Income)/Expense Net Income-S Corporation Year 1 Income Statement CAPEX Investments 4 Minivan 5 Office Furniture 7 Promotional Video Total CAPEX Investments 8/31/94-8/31/95 $ $ $ $ $ $ $ $ $ $ 100.00 42.00 4,200.00 2,895,000 28,950 689 2,835,000.00 50,000.00 10,000.00 2,895,000.00 2,126,250.00 .75 x 2,895,000, 75% of total rev 20,000.00 2,146,250.00 748,750.00 24,000.00 325,000.00 65,000.00 141,750.00 20,000.00 85,000.00 6,000.00 x 40,000.00 x? Or 20,000 15,357.14 722,107.14 26,642.86 42,000.00 Fixed vs variable costs 25,000.00 1,642.86 20,000 35,000 27,000 82,000.00 Useful Life 7.0 10.0 3.0 Annual Depr & Amort 2,857 3,500 9,000 15,357 $ Transaction # 9 # of Tour Groups Forecasted to Sell 9 # of Students Per Tour Group Total Number of Students Expected to Travel Total Revenue Total Revenue Per Tour Group Total Revenue Per Student Revenue 9 Tour Revenue 10 Trip Cancellation Insurance 11 Trip Cancellation Penalty Total Revenue 3 14 15 13 Cost of Goods/Services Sold 12 Tour COGS 10 Trip Cancellation Insurance COGS Total COGS GROSS MARGIN Operating Expenses Facility Rent Salaries Benefits Sales Commission Expenses Marketing Collateral Usage Marketing & Advertising Expense 17 6 Computer Equipment Rent/Lease 7 Other Operating Expense Depreciation & Amortization Total Operating Expenses Operating Income (Before Tax) EBITDA 8 Other: Interest (Income)/Expense Net Income-S Corporation Year 1 Income Statement CAPEX Investments 4 Minivan 5 Office Furniture 7 Promotional Video Total CAPEX Investments 8/31/94-8/31/95 $ $ $ $ $ $ $ $ $ $ 100.00 42.00 4,200.00 2,895,000 28,950 689 2,835,000.00 50,000.00 10,000.00 2,895,000.00 2,126,250.00 .75 x 2,895,000, 75% of total rev 20,000.00 2,146,250.00 748,750.00 24,000.00 325,000.00 65,000.00 141,750.00 20,000.00 85,000.00 6,000.00 x 40,000.00 x? Or 20,000 15,357.14 722,107.14 26,642.86 42,000.00 Fixed vs variable costs 25,000.00 1,642.86 20,000 35,000 27,000 82,000.00 Useful Life 7.0 10.0 3.0 Annual Depr & Amort 2,857 3,500 9,000 15,357 $
Expert Answer:
Answer rating: 100% (QA)
To complete the income statement balance sheet cash flow statement for Year 1 and calculate the numb... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-1259569197
8th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
Posted Date:
Students also viewed these finance questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Simplify the following 1. cos(-3x) cos(-x) - cos(-3x) sin(-x) 2. 2 cos(-)-1 5 3. sin12- sin8
-
There is a bond on the spot-market. Price is 87.63 USD. Risk-free interest rate is 1.22%. The forward-price is 102.78 USD. Is there any arbitrage possibility if time to maturity is 9 months?
-
What is meant by an international monetary system? How can international monetary systems be classified?
-
In a test to determine the friction coefficient, , associated with a disk brake, one disk and its shaft are rotated at a constant angular velocity w, while an equivalent disk/shaft assembly is...
-
Discuss how the concepts of groupthink and escalation of commitment might be related to some cases of unethical decision making (and its cover-up) in business.
-
An array of electronic chips is mounted within a sealed rectangular enclosure, and cooling is implemented by attaching an aluminum heat sink (k = 180 W/m K). The base of the heat sink has dimensions...
-
if h(x) = (x-5)(x-1)/(x-5), what is h (5).
-
Novelty Inc. developed a new product in 2020 and its financial results follow. To increase acceptance by retailers, Novelty sold the product to retailers with an unconditional right of return, which...
-
Find the area between the given curves using iterated integral y = x^2 + x, y = -2x, x = 0, x = 3
-
The oxidation of ethanedioate (oxalate) ions by manganate(VII) ions can be represented by the half equations: CO4 (aq)2CO2(g) + 2e MnO4 (aq) + 8H(aq) + 5e Mn2(aq) + 4HO(1) What volume (in cm) of...
-
Given a set of characters A = of {a, a2, ...an}, where n > 2. Let f; and f; be the frequencies Ai and Ajr and d; and dj be the depths of a; and a; in a Huffman encoding tree for A. Prove or disprove...
-
A . Abacus Limited issued 15 year, 14 per cent bonds five years ago. The bond which has a face value of `100 is currently selling for Rs.108. (a) What is the pre-tax cost of debt? (b) What is the...
-
Data table Cash Receipts Cash Payments Date Cash Debit Check No. Cash Credit Dec. 4 $ 4,140 1416 $ 840 9 530 1417 160 540 1418 680 2,200 1419 1,590 1.790 1420 1,470 1421 900 1422 650 14 17 31 Print...
-
The Breakfast Coffee Club's (TBCC) inventory activity for their House Blend is shown below for the month of July. TBCC use a perpetual inventory system: Date 1 July 7 July 9 July 14 July 30 July...
-
Put together risk assessment? Risk assessment and control evaluation. The sample is attached below: Organizational Objective/Process Goal: 1 2 3 4 Process Level Risks Risk that checks are not being...
-
Given that all the choices are true, which one concludes the paragraph with a precise and detailed description that relates to the main topic of the essay? A. NO CHANGE B. Decades, X-ray C. Decades...
-
Compton Information Services, Inc., has two service departments: human resources and billing. Compton's operating departments, organized according to the special industry each department serves, are...
-
Reardan Company established a predetermined fixed overhead cost rate of $29 per unit of product. The company planned to make 7,000 units of product but actually produced only 6,500 units. Actual...
-
According to its original plan, Topeka Consulting Services Company plans to charge its customers for service at $120 per hour in 2018. The company president expects consulting services provided to...
-
In the 1970s, Special Electric Company brokered the sale of crocidolite asbestos, which is the most toxic form of asbestos, to Johns- Manville Corporation. Special Electric never held possession of...
-
On January 2, 2018, The Register, a science and technology news site based in Britain, published an article revealing the existence of two major bugs leaving virtually all computers and smartphones...
-
Plaintiffs W. O. and J. C. Lucy had wanted to purchase Ferguson Farm from the Zehmers for at least eight years. One night, Lucy stopped by the establishment the Zehmers operated and said that he bet...
Study smarter with the SolutionInn App