Fourteen organizations from across the state received grants for projects in line with the mission of the Red Ants Pants Foundation.
The following assumptions also are needed for our example. Be sure to read all assumptions since they will be referred to as we explain the components of the balance sheet. Assumptions For Our Example: Donald Sutherland is the sole-proprietor of The Toy Company. The Company buys preassembled wooden toys from a supplier in Maine and sells them to end consumers you and I.
Donald registered the company on January 1, X and has been operating it since then. Today's date is January 10, Y. The equipment consists of two computers, a fax machine, and a mobile photocopier. Donald's accountant suggested these item be pooled into one asset account called Office Equipment.
The building will be used to sell the company's preassembled toys. Donald's accountant suggests the building has a useful life of 5 years and will be depreciated in equal amounts per year over these 5 years.
Lets also assume, the accountant suggests the office equipment pool of assets has a useful life of two years and will be depreciated in equal amounts per year over these two years. The asset's estimated value, after their useful lives have expired, is assumed to be zero.
The useful lives have been set only for presentational purposes and should not be used as guidelines.
The insurance contract called for a 1 year payment to be made in advance. The company allows its customers to buy products on credit.
The credit terms established by the Toy Company requires customers to pay within 30 days of the purchase date. The Toy Company has established a credit rating with its supplier which allows them to pay for each order of preassembled toys within 45 days. Also, Donald has set up charge accounts with local vendors merchants which allows him to pay for the company's general office supplies within 45 days.
As of December 31, X, the tax obligation has not been paid and therefore is considered an income tax payable. This concludes the assumptions section of our example.
Now lets examine each of the four Balance Sheet items and components: Balance Sheet Items and Components:A business plan is all conceptual until you start filling in the numbers and terms.
The sections about your marketing plan and strategy are interesting to read, but they don't mean a thing if you. Your business plan is often the difference between a business that thrives and one that doesn't.
As frustrating as that might sound, it's true. Here are some Sample Business Plan Templates created using MS Word to fulfill everyone’s purpose if they wanted to write a Business Plan. A Worthy Business Plan is the one that accurately presents all the pros and cons of starting a business.
Projected Balance Sheet. Business Ratios. 26 Introduction This business plan template can be downloaded in both PDF and MS Word format at: They stand a good shot at taking a large share of business in this case. One example is Walmart deciding to sell a competing product at a discount in their stores.
New regulations or . Projected Balance Sheet. Business Ratios.
26 Introduction This business plan template can be downloaded in both PDF and MS Word format at: They stand a good shot at taking a large share of business in this case. One example is Walmart deciding to sell a competing product at a discount in their stores.
New regulations or import. THE BALANCE SHEET. The Balance Sheet is a statement used to determine the financial strength and weakness of a business. It lists everything a company owns and everything a company owes at a specific point in time.