CHECKLIST

Make sure you fill this in AFTER you have finished the assignment and BEFORE you submit it

✘ We declare that this is an original assignment and is entirely our own work

✘ This assignment has been prepared exclusively by us for this paper and has not and will not be
submitted as assessed work in any other paper

Group Members
Aitesam ullah
Adam khan
Annas aman
Aqib majeed
Amman
ASSIGNMENT
INPUT DATA
MONTHS COVERED BY:
Quarter 3 months
Year (annual) 12 months

OPENING BALANCES 1/10/2018

Cash $ 6,000
Accounts Receivables $ 72,000
Inventories $ 9,000
Accounts Payables $ 54,000
General creditors $ 900

SALES DATA
Estimated Selling Price per mirror $ 240
Collection period
Percentage in month of sale 0%
Percentage in following month 100%
Estimated Monthly Sales Volume
October 800 units
November 880 units
December 720 units

INVENTORY DATA
Estimated Cost price per Bouncer $ 180
Required inventory level 100 units

OTHER FORECAST PAYMENTS

Advertising $ 400 per month
General (Telephone, Utilities, Stationery, ISP etc)) $ 1,000 per month
Owner's personal withdrawals $ 8,000 per month
Insurance premium p.a. (payable 10 October) $ 4,800 per year
Rent $ 3,200 per month
Vehicle expenses $ 1,400 per month
Van (payable 20th October) $ 50,000

NON-CURRENT ASSETS
Straight line method is used for all non-current assets Cost Expected Residual
$ Life Value
Van 50,000 5 20,000
Computer Equipment 12,000 3 -

FORECAST RECEIPTS
From owner 1/10/2018 30,000
ASSIGNMENT
SALES COLLECTION BUDGET & DEPRECIATION
OUTPUT AREA
SALES, COGS and COLLECTION BUDGET

October November December Quarter

$ $ $ $
Sales Revenue 192,000 211,200 172,800 576,000
Cost of Goods Sold 144,000 158,400 129,600 432,000
Cash Collection
Month of sale - - - -
Month after 72,000 192,000 211,200 475,200
Total 72,000 192,000 211,200 475,200

RECEIVABLES BUDGET
October November December Quarter
Opening Balance 72,000 192,000 211,200 72,000
Add Sales Revenue 192,000 211,200 172,800 576,000

Less Cash Receipts 72,000 192,000 211,200 475,200

Closing Balance 192,000 211,200 172,800 172,800

INVENTORIES BUDGET
October November December Quarter
Opening Balance 9,000 18,000 18,000 9,000
Add Purchases 153,000 158,400 129,600 441,000

Less Inventories used 144,000 158,400 129,600 432,000

Closing Balance 18,000 18,000 18,000 18,000

PAYABLES BUDGET
October November December Quarter
Opening Balance 54,000 153,000 158,400 54,000
Add Purchases 153,000 158,400 129,600 441,000

Less Cash Payments 54,000 153,000 158,400 365,400

Closing Balance 153,000 158,400 129,600 129,600

ANNUAL DEPRECIATION
Straight line method is used for all non-current assets

Van 6,000
Computer Equipment 4,000
Total Depreciation 10,000
ASSIGNMENT
CASH FLOW OUTPUT AREA
Baby Factory
Cash Flow Forecast
Quarter ending 31 December 2018
NOTE: Depending on how the cash flow is prepared, not all blue cells may need entries
October November December Quarter
$ $ $ $
Cash Flow from Operating Activities
Inflow
Debtors 72,000 192,000 211,200 475,200
Total Inflow 72,000 192,000 211,200 475,200
Outflow
Creditors 54,000 153,000 158,400 365,400
Advertising 400 400 400 1,200
General 900 1,000 1,000 2,900
Insurance Premium 4,800 - - 4,800
Rent 3,200 3,200 3,200 9,600
Vehicle Expenses 1,400 1,400 1,400 4,200

Total outflow 64,700 159,000 164,400 388,100

Net Cash Inflow (outflow) from operations 7,300 33,000 46,800 87,100

Cash Flow Investing Activities

Inflow

Total Inflow - - - -
Outflow
Van 50,000 - - 50,000

Total outflow 50,000 - - 50,000

Net cash inflow (outflow) from investing - 50,000 - - - 50,000

Cash Flow Financing Activities

Inflow
Capital from owner 30,000 - - 30,000

Total Inflow 30,000 - - 30,000

Outflow
Drawings 8,000 8,000 8,000 24,000

Total Outflow 8,000 8,000 8,000 24,000

Net cash inflow (outflow) from Financing 22,000 - 8,000 - 8,000 6,000

Net cash inflow (outflow) - 20,700 25,000 38,800 43,100

Beginning cash balance 6,000 - 14,700 10,300 6,000

Ending cash balance - 14,700 10,300 49,100 49,100
Assignment 2 0703

ASSIGNMENT
INCOME STATEMENT OUTPUT AREA
Baby Factory
Projected Income Statement
Quarter ending 31 December 2018
Quarter
$ $
Revenue
Sales 576,000
Less Cost of Goods Sold
Cost of Goods Sold 432,000
Gross Profit 144,000
Less Expenses
Advertising 1,200
General (Telephone, Utilities, Stationery, ISP etc)) 3,000
Rent 9,600
Insurance 1,200
Vehicle expenses 4,200
depreciation van 1,500
depreciation computer equipments 1,000

Total expenses 21,700

Net Profit Before Tax 122,300

ASSIGNMENT
Balance Sheet OUTPUT AREA
Baby Factory
Projected Balance Sheet
As on 31 December 2018

Current Assets
Cash 49100
Account Receivable 172800
Inventories 18000
Insurance 3600
Total current assets 243500
Non Current Assets
Computer Equipment 12000
Acc: depreciation Comp Equip 5000
7000
Van 50000
Acc: depreciation Van 1500
48500
Total non current asstes 55500
Total Assets 299000

Current Liabilities
Account Payable 129600
General Creditors 1000

Total Liabilities 130600

Owners Equity 168400

Total Liabilities and Owners Equity 299000