What is a projected profit and loss statement and what is its relationship to the business...

What is a projected profit and loss statement and what is its relationship to the business plan? (100–150 words)

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jeff jeffy answered 5 months ago

Prepare the projected profit & Loss statement for the year 2021, 2022, and 2023. Please calculate...

Prepare the projected profit & Loss statement for the year 2021, 2022, and 2023. Please calculate the payback period for the frim. Our AAA sightseeing tour plan will start with total capital of 90,000 USD on 2021 January. Projected Costs are as follows Vehicle costs 34000 USD Software & Apps cost 4000 USD Location Rental for 250 USD per month for 3 years contract after first-year rental cost, it will increase 5% for the next coming 2 years. Vehicle Maintenance fees...

Profit or Loss Account (Income Statement) of a business shows a net profit of 500,000. The...

Profit or Loss Account (Income Statement) of a business shows a net profit of 500,000. The owner of the business says, ‘Where is the money? My business does not have an increase in cash by $500,000 in the bank account. Where is the $500,000 profit? Required: Provide an explanation to the owner of the business about why net profit of a Profit or Loss Account (Income Statement) is not necessarily equal to the cash inflow. Your explanation must include two...

Can you find a break-even point analysis and profit analysis? Profit and loss income statement projected...

Can you find a break-even point analysis and profit analysis? Profit and loss income statement projected for the next 3 years first year monthly •R&D Expenses $7000 each year •S&A $3000 each month •Salaries 10 people with $9000 each month •Costumer Satisfaction $8000 each month •Rent of office $5000 each month •Cost of recipes $2000 each month

USE INDIRECT METHOD The profit or loss section of the statement of comprehensive income of ITS...

USE INDIRECT METHOD The profit or loss section of the statement of comprehensive income of ITS NOT OK NOT TO BE OK company for the year ended December 31, 2020 as reproduced below: Sales- 6,100,000 COGS- 3,700,000 GROSS PROFIT- 2,400,000 Gain on sale of equipment- 100,000 Salaries expense- (820,000) Insurance expense- 380,000 Depreciation expense- 220,000 Profit before interest and income tax -1,080,000 Interest Expense- 120,000 Profit before income tax- 960,000 Income tax expense- 288,000 Profit- 672,000 The following info is...

What is a profit and loss statement? What does it provide? (100–150 words)

Explain the purpose and use of the Statement of profit or loss, Statement of changes in...

Explain the purpose and use of the Statement of profit or loss, Statement of changes in equity, Statement of financial position (also known as the Balance Sheet) and of the Statement of cash flows. Explain why the Statement of cash flows differs from the Statement of profit or loss (125 words).

QUESTION 6 Master Limited has the following items in its statement of profit or loss and...

QUESTION 6 Master Limited has the following items in its statement of profit or loss and other comprehensive income for the year ended 30 June 2017: Revenue FC*130,000 Cost of goods sold FC45,000 Other expenses FC14,000 Income tax expense FC12,000 *FC = Foreign Currency. All items were earned and incurred evenly across the year. The following exchange rates applied: End of reporting period FC1 = $1.44 Average rate for year FC1 = $1.42 The net profit after tax translated into the...

1.2 Bunny Ltd manufactures a single product. Its Statement of Profit & Loss for the two...

1.2 Bunny Ltd manufactures a single product. Its Statement of Profit & Loss for the two years are given below: 2019 2018 Units sold 300 000 units 240 000 units Sales revenue N$ 1 500 000 N$ 1 200 000 Cost of goods sold N$ 800 000 N$ 740 000 Gross margin N$ 700 000 N$ 460 000 Less: Operating expenses N$ (450 000) N$ (420 000) Net Income N$ 250 000 N$ 40 000 The Company’s cost of goods...

The profit before tax, as reported in the statement of profit or loss and other comprehensive...

The profit before tax, as reported in the statement of profit or loss and other comprehensive income of Andreas Ltd for the year ended 30 June 2020, amounted to $85 000, including the following revenue and expense items: Rent revenue $4 500 Bad debts expense 6 000 Depreciation of plant 5 000 Annual leave expense Long service leave expense 2 500 3 500 Entertainment costs (non-deductible) 2 800 Depreciation of buildings (non-deductible) 800 Fines and penalties (non-deductible) 1 500 The...

The profit before tax, as reported in the Statement of Profit or Loss and Other Comprehensive...

The profit before tax, as reported in the Statement of Profit or Loss and Other Comprehensive Income of Diamond Ltd for the year ended 30 June 2019, amounted to $50,000 including the following revenue and expense items. June 2019 $ Interest revenue 4,000 Bad debts expense 4,000 Depreciation expense - plant 5,000 Annual Leave Expense 3,000 Long service leave expense 2,500 Fines and Penalties (non-deductible) 600 Depreciation expense - buildings (non-deductible) 1,000 Government grant (exempt from tax) 3,000 The Statement...

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