Prepare a one-year pro forma budget for a new startup to include a consolidated balance sheet, statement

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Prepare a one-year pro forma budget for a new startup to include a consolidated balance sheet, statement of cash flows, and income statement for the first year.

Assets

Cash 2000

equipment 2800

computer 1850

camera 2200

microphone 500

lightning 1650

total operating assets = $11,000

Depreciation = 20% salvage value after one year

fixed expenses - $700 monthly

Sales

service 1 price= $159 - COGS= 30% of price

service 2 price= $159 - COGS= 50% of price

Budgeted sales are ten purchases to start for each service and monthly growth of 20% in sales for both.

Related Book For answer-question

Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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Posted Date: Feb 07, 2021 06:30 AM

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Prepare a one-year pro forma budget for a new startup to include a consolidated balance sheet, statement

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Solution Startup Budgeted Balance Sheet as on December 31 Year 1 Det... View the full answer

Financial accounting

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