Questions
At June 30, 2017, the end of its most recent fiscal year, Flounder Computer Consultants’ post-closing...

At June 30, 2017, the end of its most recent fiscal year, Flounder Computer Consultants’ post-closing trial balance was as follows:

Debit Credit
Cash $4,390
Accounts receivable 1,010
Supplies 580
Accounts payable $340
Unearned service revenue 940
Common stock 3,000
Retained earnings 1,700
$5,980 $5,980


The company underwent a major expansion in July. New staff was hired and more financing was obtained. Flounder conducted the following transactions during July 2017, and adjusts its accounts monthly.

July 1 Purchased equipment, paying $3,600 cash and signing a 2-year note payable for $16,800. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month.
2 Issued 16,800 shares of common stock for $42,000 cash.
3 Paid $3,000 cash for a 12-month insurance policy effective July 1.
3 Paid the first 2 (July and August 2017) months’ rent for an annual lease of office space for $3,400 per month.
6 Paid $3,200 for supplies.
9 Visited client offices and agreed on the terms of a consulting project. Flounder will bill the client, Connor Productions, on the 20th of each month for services performed.
10 Collected $1,010 cash on account from Milani Brothers. This client was billed in June when Flounder performed the service.
13 Performed services for Fitzgerald Enterprises. This client paid $940 in advance last month. All services relating to this payment are now completed.
14 Paid $340 cash for a utility bill. This related to June utilities that were accrued at the end of June.
16 Met with a new client, Thunder Bay Technologies. Received $10,100 cash in advance for future services to be performed.
18 Paid semi-monthly salaries for $9,200.
20 Performed services worth $23,500 on account and billed customers.
20 Received a bill for $1,800 for advertising services received during July. The amount is not due until August 15.
23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $8,400 of revenue from the cash advance received July 16.
27 Received $12,600 cash from customers billed on July 20.


Adjustment data:

1. Adjustment of prepaid insurance.
2. Adjustment of prepaid rent.
3. Supplies used, $1,050.
4. Equipment depreciation, $425 per month.
5. Accrual of interest on note payable.
6. Salaries for the second half of July, $9,200, to be paid on August 1.
7. Estimated utilities expense for July, $670 (invoice will be received in August).
8. Income tax for July, $1,010, will be paid in August.


The chart of accounts for Flounder Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense.

Please journalize the july transactions

In: Accounting

Accounting Cycle Review 4-4 (Part Level Submission) At June 30, 2017, the end of its most...

Accounting Cycle Review 4-4 (Part Level Submission)

At June 30, 2017, the end of its most recent fiscal year, Blue Computer Consultants’ post-closing trial balance was as follows:

Debit Credit
Cash $6,380
Accounts receivable 1,460
Supplies 840
Accounts payable $490
Unearned service revenue 1,370
Common stock 4,400
Retained earnings 2,420
$8,680 $8,680


The company underwent a major expansion in July. New staff was hired and more financing was obtained. Blue conducted the following transactions during July 2017, and adjusts its accounts monthly.

July 1 Purchased equipment, paying $4,400 cash and signing a 2-year note payable for $24,400. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month.
2 Issued 24,400 shares of common stock for $61,000 cash.
3 Paid $4,200 cash for a 12-month insurance policy effective July 1.
3 Paid the first 2 (July and August 2017) months’ rent for an annual lease of office space for $4,900 per month.
6 Paid $4,600 for supplies.
9 Visited client offices and agreed on the terms of a consulting project. Blue will bill the client, Connor Productions, on the 20th of each month for services performed.
10 Collected $1,460 cash on account from Milani Brothers. This client was billed in June when Blue performed the service.
13 Performed services for Fitzgerald Enterprises. This client paid $1,370 in advance last month. All services relating to this payment are now completed.
14 Paid $490 cash for a utility bill. This related to June utilities that were accrued at the end of June.
16 Met with a new client, Thunder Bay Technologies. Received $14,600 cash in advance for future services to be performed.
18 Paid semi-monthly salaries for $13,400.
20 Performed services worth $34,200 on account and billed customers.
20 Received a bill for $2,700 for advertising services received during July. The amount is not due until August 15.
23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $12,200 of revenue from the cash advance received July 16.
27 Received $18,300 cash from customers billed on July 20.


Adjustment data:

1. Adjustment of prepaid insurance.
2. Adjustment of prepaid rent.
3. Supplies used, $1,550.
4. Equipment depreciation, $600 per month.
5. Accrual of interest on note payable.
6. Salaries for the second half of July, $13,400, to be paid on August 1.
7. Estimated utilities expense for July, $980 (invoice will be received in August).
8. Income tax for July, $1,460, will be paid in August.


The chart of accounts for Blue Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense.

Prepare a classified balance sheet at July 31

In: Accounting

At June 30, 2017, the end of its most recent fiscal year, Blue Computer Consultants’ post-closing...

At June 30, 2017, the end of its most recent fiscal year, Blue Computer Consultants’ post-closing trial balance was as follows:

Debit Credit
Cash $6,380
Accounts receivable 1,460
Supplies 840
Accounts payable $490
Unearned service revenue 1,370
Common stock 4,400
Retained earnings 2,420
$8,680 $8,680


The company underwent a major expansion in July. New staff was hired and more financing was obtained. Blue conducted the following transactions during July 2017, and adjusts its accounts monthly.

July 1 Purchased equipment, paying $4,400 cash and signing a 2-year note payable for $24,400. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month.
2 Issued 24,400 shares of common stock for $61,000 cash.
3 Paid $4,200 cash for a 12-month insurance policy effective July 1.
3 Paid the first 2 (July and August 2017) months’ rent for an annual lease of office space for $4,900 per month.
6 Paid $4,600 for supplies.
9 Visited client offices and agreed on the terms of a consulting project. Blue will bill the client, Connor Productions, on the 20th of each month for services performed.
10 Collected $1,460 cash on account from Milani Brothers. This client was billed in June when Blue performed the service.
13 Performed services for Fitzgerald Enterprises. This client paid $1,370 in advance last month. All services relating to this payment are now completed.
14 Paid $490 cash for a utility bill. This related to June utilities that were accrued at the end of June.
16 Met with a new client, Thunder Bay Technologies. Received $14,600 cash in advance for future services to be performed.
18 Paid semi-monthly salaries for $13,400.
20 Performed services worth $34,200 on account and billed customers.
20 Received a bill for $2,700 for advertising services received during July. The amount is not due until August 15.
23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $12,200 of revenue from the cash advance received July 16.
27 Received $18,300 cash from customers billed on July 20.


Adjustment data:

1. Adjustment of prepaid insurance.
2. Adjustment of prepaid rent.
3. Supplies used, $1,550.
4. Equipment depreciation, $600 per month.
5. Accrual of interest on note payable.
6. Salaries for the second half of July, $13,400, to be paid on August 1.
7. Estimated utilities expense for July, $980 (invoice will be received in August).
8. Income tax for July, $1,460, will be paid in August.


The chart of accounts for Blue Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation—Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense.

Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.)

In: Accounting

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's...

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

   

Account Title Debits Credits
Cash 32,000
Accounts receivable 40,600
Supplies 1,800
Inventory 60,600
Notes receivable 20,600
Interest receivable 0
Prepaid rent 1,200
Prepaid insurance 6,600
Office equipment 82,400
Accumulated depreciation 30,900
Accounts payable 31,600
Salaries payable 0
Notes payable 50,600
Interest payable 0
Deferred sales revenue 2,300
Common stock 64,200
Retained earnings 30,000
Dividends 4,600
Sales revenue 149,000
Interest revenue 0
Cost of goods sold 73,000
Salaries expense 19,200
Rent expense 11,300
Depreciation expense 0
Interest expense 0
Supplies expense 1,400
Insurance expense 0
Advertising expense 3,300
Totals 358,600 358,600

Information necessary to prepare the year-end adjusting entries appears below.

  1. Depreciation on the office equipment for the year is $10,300.
  2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
  3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
  4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
  5. On April 1, 2021, the company paid an insurance company $6,600 for a two-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
  6. $560 of supplies remained on hand at December 31, 2021.
  7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
  8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.

4. Prepare an income statement and a statement of shareholders’ equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $4,600 in cash dividends were paid to shareholders during the year.
_____________________________________________________________________________________________________________________________________________________

Prepare the income statement for the year ended December 31, 2021. (Other expenses should be indicated with a minus sign.)

PASTINA COMPANY
Income Statement
For the Year Ended December 31, 2021
  
0
0
0
0
$0

_____________________________________________________________

Prepare the statement of shareholders' equity for the year ended December 31, 2021.

PASTINA COMPANY
Statement of Shareholders' Equity
For the Year Ended December 31, 2021
Common Stock Retained Earnings Total Shareholders’ Equity
Balance at January 1, 2021
Balance at December 31, 2021

__________________________________________________________________________________________________________

Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

PASTINA COMPANY
Balance Sheet
At December 31, 2021
Assets
  
0
0
0
Liabilities and Shareholders' Equity
0
0
$0

In: Accounting

On March 1, 2017, the Company entered into an agreement with a customer, Thornock Square Apartments,...

On March 1, 2017, the Company entered into an agreement with a customer, Thornock Square Apartments, to construct a residential apartment building for a fixed price of $1.5 million. The Company estimates that it will incur costs of $1 million to complete construction of the apartment building. The apartment building will only transfer to Thornock Square Apartments once the construction of the entire building is complete. In addition, Thornock Square Apartments has various design requirements that would require Cannon to incur significant costs to rework the building prior to selling it to a customer other than Thornock Square Apartments.
To construct the apartment building, Cannon acquires standard materials that it regularly uses in construction contracts for both residential and commercial buildings. These materials are used to manufacture generic component parts for inclusion in Thornock Square Apartments’ residential buildings. These standard materials remain interchangeable with other items until they are deployed in Thornock Square Apartments building. The Company has made the following purchases and incurred the following costs throughout the construction progress:
A. As of June 30, 2017, in total, Cannon has purchased $75,000 of component parts. As of June 30, 2017, $25,000 of component parts remain in inventory and $50,000 have been integrated into the project. Further, Cannon has incurred $12,500 of direct costs to integrate the component parts into the Thornock Square Apartments construction project during the three months ended June 30, 2017.
B. During the three months ended September 30, 2017, Cannon purchased an additional $500,000 of component parts ($575,000 in total). Of the $575,000 of component parts, $325,000 remain in inventory and $200,000 have been integrated into the project during the three months ended September 30, 2017. During the three months ended September 30, 2017, Cannon incurred an additional $50,000 of direct costs to integrate the component parts into the Thornock Square Apartments construction project.
C. As of September 30, 2017, Cannon determined that the project was over budget and revised its cost estimate from $1 million to $1.25 million.
D. As of December 31 2017, the construction project was completed. During the three months ended December 31, 2017, Cannon purchased an additional $425,000 of generic component parts ($1 million in total). Of the $1 million component parts, $0 remain in inventory and $750,000 were integrated into the project during the three months ended December 31, 2017. Cannon has incurred $187,500 of direct costs to integrate the component parts into the Thornock Square Apartments construction project during the three months ended December 31, 2017.
If Thornock Square Apartments cancels the contract, Cannon will be entitled to reimbursement for costs incurred for work completed to date plus a margin of 20 percent, which is considered to be a reasonable margin. Cannon will not be reimbursed for any materials that have been purchased for use in the contract but have not yet been used and are still controlled by Cannon.

1) What amount of revenue should be recognized for the following periods: a. The three months ended June 30, 2017? b. The three months ended September 30, 2017? c. The three months ended December 31, 2017? Please explain calculations

2)Create a revenue recognition summary table which summarises the calculations used to find the revenue in each quarter

3)How should the entity recognize revenue for the satisfaction of its performance obligation in FASB code?

(All other chegg answers were wrong for this question)

In: Accounting

Washington City created an Information Technology department in 2013 to centralize information technology (IT) functions for...

Washington City created an Information Technology department in 2013 to centralize information technology (IT) functions for the city. The goal of the department was to reduce costs, avoid duplication of efforts, and provide up-to-date technology to all of the city’s operations. The fund was designed to be self-supporting; that is, all costs are to be recovered through user fees, but any excess of fees over expenses should be less than 5%. The pre-closing trial balance for the IT department as of December 31, 2017 is shown below.
Debits Credits
  Cash $ 14,500
  Due from Other Funds 4,250
  Materials and Supplies Inventory 350
  Machinery and Equipment 53,600
  Accumulated Depreciation $ 30,100
  Accounts Payable 2,550
  Payroll Taxes Payable 2,650
  Due to Other Funds 1,200
  Net Position – Net Investment in Capital Assets 23,500
  Net Position – Unrestricted 12,700
$ 72,700 $ 72,700
During the fiscal year ended December 31, 2017, the following transactions (summarized) occurred:
1.

Gross employee wages were $57,600, including the employer’s share of social security taxes amounting to $4,100. Federal income and social security taxes withheld from that amount totaled $18,725.
2. Office expenses in the amount of $3,700 were paid in cash.
3. Materials and supplies purchased on account during the year were $8,400.
4. Received a bill totaling $14,525 for utilities provided by Washington City’s utility fund.
5. Cash paid to the federal government for payroll taxes was $23,000.
6. Cash paid to the Utility Fund was $14,500.
7. Accounts payable at year end totaled $2,950.
8. Materials and supplies used during the year were $8,250.
9. Charges to departments during the fiscal year were as follows:
  General Fund $ 57,500
  Special Revenue Fund 20,600
10. Unpaid balances at year end were:
  General Fund $ 3,500
  Special Revenue Fund 1,800
11. The depreciation for the year was $6,100.
12. Revenue and expense accounts for the year were closed.
Required
a-1.

Prepare journal entries for the Information Technology Fund for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (Journal entries are numberes 1-11)


1. Gross employee wages were $57,600, including the employer’s share of social security taxes amounting to $4,100. Federal income and social security taxes withheld from that amount totaled $18,725.

2. Office expenses in the amount of $3,700 were paid in cash.

3. Materials and supplies purchased on account during the year were $8,400.

4. Received a bill totaling $14,525 for utilities provided by Washington City’s utility fund.

5. Cash paid to the federal government for payroll taxes was $23,000.

6. Cash paid to the Utility Fund was $14,500.

7. Accounts payable at year end totaled $2,950.

8. Materials and supplies used during the year were $8,250.

9. Record the billing to departments.

10. Record the cash received from other funds.

11. The depreciation for the year was $6,100.

Additionally,

Prepare closing entry for the Information Technology Fund for 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (Journal Entries are numbered 1-3)

1. Record the closure of revenue and expense accounts.

2. Record the operating loss for the year.

3. The depreciation for the year was $6,100.

In: Accounting

The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given...

The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also.
ARDUOUS COMPANY
Comparative Balance Sheets
December 31, 2016 and 2015
($ in millions)
2016 2015
  Assets
  Cash $ 146    $ 96   
  Accounts receivable 205    224   
  Investment revenue receivable 23    19   
  Inventory 222    215   
  Prepaid insurance 21    28   
  Long-term investment 203    140   
  Land 241    165   
  Buildings and equipment 427    430   
      Less: Accumulated depreciation (109) (150)
  Patent 43    47   
$ 1,422    $ 1,214   
  Liabilities
  Accounts payable $ 65    $ 95   
  Salaries payable 23    33   
  Bond interest payable 25    19   
  Income tax payable 27    32   
  Deferred income tax liability 41    23   
  Notes payable 38    0   
  Lease liability 97    0   
  Bonds payable 230    305   
     Less: Discount on bonds (37) (46)
  Shareholders’ Equity
  Common stock 455    425   
  Paid-in capital—excess of par 115    100   
  Preferred stock 90    0   
  Retained earnings 277    228   
     Less: Treasury stock (24) 0   
$ 1,422    $ 1,214   
ARDUOUS COMPANY
Income Statement
For Year Ended December 31, 2016
($ in millions)
Revenues and gain:
  Sales revenue $ 557   
  Investment revenue 28
  Gain on sale of treasury bills 4 $ 589
  Expenses and loss:
  Cost of goods sold 195
  Salaries expense 88
  Depreciation expense 9
  Patent amortization expense 4
  Insurance expense 22
  Bond interest expense 43
  Loss on machine damage 30
  Income tax expense 51 442
  Net income $ 147
Additional information from the accounting records:
a.

Investment revenue includes Arduous Company’s $23 million share of the net income of Demur Company, an equity method investee.
b.

Treasury bills were sold during 2016 at a gain of $4 million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
c.

A machine originally costing $100 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $20 million.
d.

Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $18 million.
e.

The preferred stock of Tory Corporation was purchased for $40 million as a long-term investment.
f.

Land costing $76 million was acquired by issuing $38 million cash and a 14%, four-year, $38 million note payable to the seller.
g.

The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $97 million.
h.

$75 million of bonds were retired at maturity.
i. In February, Arduous issued a stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time.
j.

In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $24 million.
Required:

Prepare the statement of cash flows for Arduous Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Do not round your intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).)

In: Accounting

2. Caterpillar Inc. reported its annual financial statements for the 2018 fiscal year (See the Excel...

2. Caterpillar Inc. reported its annual financial statements for the 2018 fiscal year (See the Excel sheet attached for Cat’s financials in the last 4 years). The day before the report, the firm’s market price per share closed at $127.07. For those who are not familiar with Caterpillar, here is a brief description of their business: Caterpillar Inc. is an American Fortune 100 corporation which designs, develops, engineers, manufactures, markets and sells machinery, and engines to customers via a worldwide dealer network. It is the world's largest construction equipment manufacturer. Caterpillar products and components are manufactured and sold in 110 facilities worldwide. 51 plants are located in the United States and 59 overseas plants are located in Australia, Belgium, Brazil, Canada, China, Czech Republic, England, France, Germany, Hungary, India (Chennai), Indonesia, Italy, Japan, Mexico, the Netherlands, Northern Ireland, Poland, Russia, Singapore, South Africa and Sweden. The market capitalization rate on the day before the report (Investors’ annual required rate of return given the firm’s debt/equity structure) is 32.85%, i.e. k=0.3285. Use the information provided here as well as the financial statements to answer the following questions: a) (4) What is Caterpillar’s 2018 Return on Equity (ROE)? Please use the Dupont system (Show its components) and the market-to-book method. b) (6) Find the intrinsic value per share using the Constant Dividend Discount Model. (Hint: Retained earnings for 2018 is the change in the balance of retained earnings since last year, i.e. 2018 retained earnings – 2017 retained earnings). Compare it with yesterday’s market price, is it time to add Caterpillar Inc. to our portfolio? c) (3) What is the major issue in using the constant dividend discount model when measuring the fundamental value of a firm? Use this firm as an example to illustrate your point. d) (3) In your opinion, how can Caterpillar provide growth to shareholders? And what type of macroeconomic factors/risks they are exposed to? (Think about its business line and where the growth in revenue can come from) e) (4) Find the inventory turnover ratio and average collection period for years (2018, 2017, and 2016). Comparing the ratios over the 3 years, is the company being more or less efficient in its use of assets?

Income Statement
Revenue (All numbers in 000s) 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Revenue 54,722,000 45,462,000 38,537,000 47,011,000
Cost of Revenue 39,819,000 33,638,000 30,402,000 35,897,000
Gross Profit 14,903,000 11,824,000 8,135,000 11,114,000
Operating Expenses:
Selling General and Administrative 4,806,000 4,425,000 4,476,000 4,363,000
Depreciation 1761000 1823000 1775000 2092000
Total Operating Expenses 46,386,000 39,886,000 36,653,000 42,352,000
Earnings Before Interest and Taxes (EBIT) 8,336,000 5,576,000 1,884,000 4,659,000
Interest Expense 490,000 1,478,000 1,751,000 1,220,000
Income Before Tax 7,846,000 4,098,000 133,000 3,439,000
Income Tax Expense 1,698,000 3,339,000 192,000 916,000
Minority Interest 41,000 69,000 76,000 76,000
Net Income From Continuing Ops 6,148,000 759,000 -59,000 2,523,000
Net Income 6,147,000 754,000 -67,000 2,512,000
Shares Outstanding 588,000 588,000 588,000 588,000

In: Finance

Write a business plan for a child home daycare provider business including: 1.      Executive Summary: A.   ...

Write a business plan for a child home daycare provider business including:

1.      Executive Summary:

A.    The Grab - Lead with the most compelling statement of why you have a really big idea. This sets the tone for the rest of the executive summary

B.     Product/Service Offer - What specifically are you offering to whom?

C.     Market Opportunity - Provides a basic Industry Analysis - size, growth and dynamics— how many customers &/or companies

D.    Your Competitive Advantage - Understand what your real, sustainable competitive advantage is, and state clearly what it is.

E.     Revenue Model – Estimate what revenue (sales), in dollars, your business will generate for your 1st year of business and 2 nd year and 3rd year.

2.      Product or Service

Write 1-2 paragraphs that describe your what your company sells.

3.       Market analysis You are to clearly describe your target market for your product or service, that is, clearly describe who your customers are.

4.       Analysis of competition

– Top 2 companies in this Industry An analysis that in the writing demonstrates that you have a clear understanding of your competition.

5.       Promotional Campaign Plan

Provide a detailed plan for how you are going to promote the opening “day” for your business. State in this section the date when that “opening day” will be.

6.       Mission Statement

Use the information provided in CH 7 to write a mission statement for your business that is no longer than 2 sentences in length.

7.       Three-year goals for your business

State 2 specific and measurable goals for year 1; 2 specific and measurable goals for year 2; and 2 specific and measurable goals for year 3 that your business will focus on and accomplish.

Write a business plan for a child daycare provider business including:

Executive Summary:

The Grab - Lead with the most compelling statement of why you have a really big idea. This sets the tone for the rest of the executive summary

Product/Service Offer - What specifically are you offering to whom?

Market Opportunity - Provides a basic Industry Analysis - size, growth and dynamics— how many customers &/or companies

Your Competitive Advantage - Understand what your real, sustainable competitive advantage is, and state clearly what it is.

Revenue Model – Estimate what revenue (sales), in dollars, your business will generate for your 1st year of business and 2 nd year and 3rd year.

Product or Service

Write 1-2 paragraphs that describe your what your company sells.

Market analysis You are to clearly describe your target market for your product or service, that is, clearly describe who your customers are.

Analysis of competition

– Top 2 companies in this Industry An analysis that in the writing demonstrates that you have a clear understanding of your competition.

Promotional Campaign Plan

Provide a detailed plan for how you are going to promote the opening “day” for your business. State in this section the date when that “opening day” will be.

Mission Statement

Use the information provided in CH 7 to write a mission statement for your business that is no longer than 2 sentences in length.

Three-year goals for your business

State 2 specific and measurable goals for year 1; 2 specific and measurable goals for year 2; and 2 specific and measurable goals for year 3 that your business will focus on and accomplish.

Appendix

8.       Appendix

In: Operations Management

On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wr...

On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright received a note requiring payment of $518,000 by Elmira on December 31, 2023. The effective interest rate is 9%

Required:

1. How much sales revenue would Wright recognize on January 1, 2021, for this transaction?

2. Prepare journal entries to record the sale of merchandise on January 1, 2021 (omit any entry that might be required for the cost of the goods sold), the December 31, 2021, interest accrual, the December 31, 2022, interest accrual, and receipt of payment of the note on December 31, 2023.

In: Accounting