Accounting Case Study
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FunGamesfinancials2018.xlsxSheet1
| Fun & Games | |||||||||||||
| Financial Projections 2018 | |||||||||||||
| JAN | FEB | MAR | APRIL | MAY | JUNE | JULY | AUGUST | SEPT | OCT | NOV | DEC | TOTAL | |
| Sales-Number of units | 1000 | 1500 | 2000 | 2500 | 3000 | 3500 | 4000 | 4500 | 5000 | 5500 | |||
| Sales Growth in Units | 500 | ||||||||||||
| Price per unit | $22.00 | ||||||||||||
| Cost per unit | $14.00 | ||||||||||||
| INCOME STATEMENT | |||||||||||||
| Sales | $ 22,000 | $ 33,000 | $ 44,000 | $ 55,000 | $ 66,000 | $ 77,000 | $ 88,000 | $ 99,000 | $ 110,000 | $ 121,000 | |||
| Cost of Sales | $ 14,000 | $ 21,000 | $ 28,000 | $ 35,000 | $ 42,000 | $ 49,000 | $ 56,000 | $ 63,000 | $ 70,000 | $ 77,000 | |||
| Gross Margin | $ 8,000 | $ 12,000 | $ 16,000 | $ 20,000 | $ 24,000 | $ 28,000 | $ 32,000 | $ 36,000 | $ 40,000 | $ 44,000 | |||
| Other Expenses | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | |||
| Income before tax | $ 4,000 | $ 8,000 | $ 12,000 | $ 16,000 | $ 20,000 | $ 24,000 | $ 28,000 | $ 32,000 | $ 36,000 | $ 40,000 | |||
| Income tax 35% | $ 1,400 | $ 2,800 | $ 4,200 | $ 5,600 | $ 7,000 | $ 8,400 | $ 9,800 | $ 11,200 | $ 12,600 | $ 14,000 | |||
| Net Income | $ 2,600 | $ 5,200 | $ 7,800 | $ 10,400 | $ 13,000 | $ 15,600 | $ 18,200 | $ 20,800 | $ 23,400 | $ 26,000 | |||
| CASH FLOW STATEMENT | |||||||||||||
| Beginning Cash | $ 58,500 | $ 44,500 | $ 29,000 | $ 3,600 | $ (9,400) | $ (18,400) | $ (44,400) | $ (45,400) | $ (42,400) | $ (69,000) | |||
| Sources of Cash | |||||||||||||
| Collections of A/R | $ 11,000 | $ 16,500 | $ 22,000 | $ 33,000 | $ 44,000 | $ 55,000 | $ 66,000 | $ 77,000 | $ 88,000 | $ 99,000 | |||
| Available Cash | $ 69,500 | $ 61,000 | $ 51,000 | $ 36,600 | $ 34,600 | $ 36,600 | $ 21,600 | $ 31,600 | $ 45,600 | $ 30,000 | |||
| Uses of Cash | |||||||||||||
| Accounts payable paid | $ 21,000 | $ 28,000 | $ 35,000 | $ 42,000 | $ 49,000 | $ 56,000 | $ 63,000 | $ 70,000 | $ 77,000 | $ 84,000 | |||
| Cash Expenses paid | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | $ 4,000 | |||
| Taxes paid | $ - 0 | $ - 0 | $ 8,400 | $ - 0 | $ - 0 | $ 21,000 | $ - 0 | $ - 0 | $ 33,600 | $ - 0 | |||
| Total uses of cash | $ 25,000 | $ 32,000 | $ 47,400 | $ 46,000 | $ 53,000 | $ 81,000 | $ 67,000 | $ 74,000 | $ 114,600 | $ 88,000 | |||
| Ending cash | $ 44,500 | $ 29,000 | $ 3,600 | $ (9,400) | $ (18,400) | $ (44,400) | $ (45,400) | $ (42,400) | $ (69,000) | $ (58,000) | |||
| BALANCE SHEET | |||||||||||||
| Assets | |||||||||||||
| Cash | $ 44,500 | $ 29,000 | $ 3,600 | $ (9,400) | $ (18,400) | $ (44,400) | $ (45,400) | $ (42,400) | $ (69,000) | $ (58,000) | |||
| Accounts Receivable | $ 38,500 | $ 55,000 | $ 77,000 | $ 99,000 | $ 121,000 | $ 143,000 | $ 165,000 | $ 187,000 | $ 209,000 | $ 231,000 | |||
| Inventory | $ 21,000 | $ 28,000 | $ 35,000 | $ 42,000 | $ 49,000 | $ 56,000 | $ 63,000 | $ 70,000 | $ 77,000 | $ 84,000 | |||
| Total Assets | $ 104,000 | $ 112,000 | $ 115,600 | $ 131,600 | $ 151,600 | $ 154,600 | $ 182,600 | $ 214,600 | $ 217,000 | $ 257,000 | |||
| Liabilities | |||||||||||||
| Accounts Payable | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Taxes Payable | $ 1,400 | $ 4,200 | $ - 0 | $ 5,600 | $ 12,600 | $ - 0 | $ 9,800 | $ 21,000 | $ - 0 | $ 14,000 | |||
| Loan Payable | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 | |||
| Total liabilities | $ 1,400 | $ 4,200 | $ - 0 | $ 5,600 | $ 12,600 | $ - 0 | $ 9,800 | $ 21,000 | $ - 0 | $ 14,000 | |||
| Equity | |||||||||||||
| Common stock | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | |||
| Retained earnings | $ 2,600 | $ 7,800 | $ 15,600 | $ 26,000 | $ 39,000 | $ 54,600 | $ 72,800 | $ 93,600 | $ 117,000 | $ 143,000 | |||
| Total equity | $ 102,600 | $ 107,800 | $ 115,600 | $ 126,000 | $ 139,000 | $ 154,600 | $ 172,800 | $ 193,600 | $ 217,000 | $ 243,000 | |||
| Total liabilities and equity | $ 104,000 | $ 112,000 | $ 115,600 | $ 131,600 | $ 151,600 | $ 154,600 | $ 182,600 | $ 214,600 | $ 217,000 | $ 257,000 | |||
