Accounting

posted by .

I am having the worst time: I need to build a four year projected balance sheet. I've already done my four year profit projection and was wondering if someone could help me with the balance sheet. I did year one, can't go any further: Below is the four year profit projection:


Four Year Profit Projection


2010 % 2011 % 2012 % 2013 %

Sales $240,000 100.00% $417,000 100.00% $480,000 100.00% $604,000 100.00%
Cost/ Goods Sold (COGS) 46,000 19.17% 52,000 12.47% 75,000 15.63% 116,000 19.21%
Gross Profit $194,000 80.83% $365,000 87.53% $405,000 84.38% $488,000 80.79%

Operating Expenses
Salary (Office & Overhead) $50,000 20.83% $52,000 12.47% $55,000 11.46% $60,000 9.93%
Payroll (taxes etc.) 13,000 5.42% 15,600 3.74% 15,600 3.25% 16,000 2.65%
Outside Services - 0.00% - 0.00% - 0.00% - 0.00%
Supplies (off and operation) 22,800 9.50% 26,000 6.24% 32,000 6.67% 38,000 6.29%
Repairs/ Maintenance - 0.00% - 0.00% - 0.00% - 0.00%
Advertising 1,500 0.63% 1,500 0.36% 1,200 0.25% 1,000 0.17%
Car, Delivery and Travel - 0.00% - 0.00% - 0.00% - 0.00%
Accounting and Legal 3,500 1.46% 3,000 0.72% 2,500 0.52% 2,000 0.33%
Rent 60,000 25.00% 60,000 14.39% 60,000 12.50% 60,000 9.93%
Telephone 300 0.13% 300 0.07% 300 0.06% 300 0.05%
Utilities 10,000 4.17% 14,000 3.36% 17,000 3.54% 20,000 3.31%
Insurance 12,000 5.00% 12,000 2.88% 12,000 2.50% 12,000 1.99%
Taxes (real estate etc.) 7,500 3.13% 7,500 1.80% 7,500 1.56% 7,500 1.24%
Interest 2,500 1.04% 2,500 0.60% 2,500 0.52% 2,500 0.41%
Depreciation - 0.00% - 0.00% - 0.00% - 0.00%
Supplemental Equipment 2,500 1.04% 5,000 1.20% 3,000 0.63% 5,000 0.83%
Other expense (specify) - 0.00% - 0.00% - 0.00% - 0.00%
Total Expenses $185,600 77.33% $199,400 47.82% $208,600 43.46% $224,300 37.14%

Net Profit Before Tax 8,400 165,600 196,400 263,700
Income Taxes 2,097 33,120 38,800 52,740
Net Profit After Tax 6,303 132,480 157,600 210,960
Owner Draw/ Dividends - - - -
Adj. to Retained Earnings $4,206 $132,480 $157,600 $210,960

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. ashworth college

    In completing the work sheet, what is the reason for adding the net income for the year to the balance sheet credit column total It helps to put a subject in the subject box. In completing the work sheet, what is the reason for adding …
  2. Accounting

    At the end of its first year, the trial balance of Riko Company shows Equipment $20,590 and zero balances in Accumulated Depreciation–Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,333. Prepare …
  3. accounting

    Doing a balance sheet. Trying to understand what Bal c/d, and Bal d/d means. It gives me the profit for the year then the payout also gives me the earnings for the year and then the two quotes above which I cannot find the definition …
  4. General

    Doing a balance sheet. Trying to understand what Bal c/d, and Bal d/d means. It gives me the profit for the year then the payout also gives me the earnings for the year and then the two quotes above which I cannot find the definition …
  5. Goodwill valuation - Accountancy

    In case of Admission: Given a balance sheet as at 31 Dec 2008. The new partner was admitted on 1 Jan 2009. Goodwill was agreed at 2 years purchase and was to be valued in accorfance to the weighted average gross profit method for the …
  6. Goodwill Valuation 2 - Accountancy

    In case of Admission: Given a balance sheet as at 31 Dec 2007. The new partner was admitted on 1 Jan 2007. Goodwill was agreed at 2 years purchase and was to be valued in accordance to the weighted average gross profit method for the …
  7. Finance Accounting

    Blankenship Company estimated that its warranty expense would be $4,250 for the current year. During the year Blankenship paid $920 to repair merchandise that was returned by customers. a) What is the amount of warranty expense for …
  8. Financial Accounting

    Hobbs Company started the year with $6,000 of prepaid rent. Hobbs paid additional rent in advance amounting the $12,000. The rent expense for the year was $15,000. What was the balance in prepaid rent on the year-end balance sheet?
  9. Financial Accounting

    Use the following information to answer multiple-choice questions 5 and 6. At the end of the year, before any adjustments are made, the accounting records for Sutton Company show a balance of $100,000 in accounts receivable. The allowance …
  10. math ( having difficulty)

    Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $18,000 and the year-end balance was $19,000. The additional paid-in capital account …

More Similar Questions