Assume that you are starting your own coffee shop. You will need to develop budgeted income statement and balance sheet for the next three years. Your goal is to apply the budget concepts and formulate strategies for operational sustainability. Task: Model Financial Statement Budgets for a Coffee Shop a. Income statement budget model for 3 years. b. Balance sheet budget model for 3 years. Hints (USE $ as currency + make it a low budget business + see the attached tables as refrernce to the kind of required tables)

Assume that you are starting your own coffee shop. You will need to develop budgeted income statement and balance sheet for the next three years. Your goal is to apply the budget concepts and formulate strategies for operational sustainability. Task: Model Financial Statement Budgets for a Coffee Shop a. Income statement budget model for 3 years. b. Balance sheet budget model for 3 years. Hints (USE $ as currency + make it a low budget business + see the attached tables as refrernce to the kind of required tables)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 38P: Friendly Bank is attempting to determine the cost behavior of its small business lending operations....

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Friendly Bank is attempting to determine the cost behavior of its small business lending operations. One of the major activities is the application activity. Two possible activity drivers have been mentioned: application hours (number of hours to complete the application) and number of applications. The bank controller has accumulated the following data for the setup activity: Required: 1. Estimate a regression equation with application hours as the activity driver and the only independent variable. If the bank forecasts 2,600 application hours for the next month, what will be the budgeted application cost? 2. Estimate a regression equation with number of applications as the activity driver and the only independent variable. If the bank forecasts 80 applications for the next month, what will be the budgeted application cost? 3. Which of the two regression equations do you think does a better job of predicting application costs? Explain. 4. Run a multiple regression to determine the cost equation using both activity drivers. What are the budgeted application costs for 2,600 application hours and 80 applications?
Do problem 3, a through c
Need answer to c. How much $ short would Malloy be?
Prioritizing Expenses for a Company Website Part 1: Select a website for a local small business. Examine it carefully. If you were to improve your selected website, how would you prioritize your budget? Begin by listing everything that went into making the website. Decide which elements need improving. Then, rank them from 1-5, for example, where one is the highest priority (i.e. most money would be spent) and 5 is the lowest priority (i.e. least amount of money would be allocated). Part 2: Now, you need to decide how to promote the company using this website most effectively. You have a $100,000 budget—determine how you allocate the budget using the template that follows.
I have a finance team at work. As the year progresses, they need to maintain a record of cash flow and expenditure. What will they be required to do as a first step to building a budget? Question 1Select one: A. Find out the balance sheet of the company B. Find the profit and loss for the previous year C. Identify the expenditure and demand along with the cash flow of the company D. Build an income and expenditure statement Incorrect
How do I solve for the chart?
Can someone help me with best effort? Answer correctly and completely for all with all working. Answer in text not image. Thanks!
First Discussion Board Post (due Wednesday) In your internet browser, search for the terms "Participatory Budgeting" and "Budgetary Slack." Review a few of the results so you understand what the terms mean and the implications when used by managers. Then, read the "Ethics Challenge" near the end of the Master Budgeting chapter problems in your textbook. Required: Share your responses to the following questions with your classmates. Based on your reading: 1. Do you think Granger Stokes is using budgets appropriately? 2. What sort of behavioral consequences may occur as a result of the way budgets are used at Prime Drive? 3. What would you do if you were in Keri Kalani's position?
1. Prepare A Budgeted Statement Of Cash flow? Analyze, Think, Communicate ATC 7-1 Business Applications Case Preparing and using pro forma statements Mary Helu and Jason Haynes rccently graduatcd from the same university. After graduation thcy decided not to scck jobs at cstablishcd organizations but, rather, to start thcir own small busincss hoping they could have morc flexibility in their personal livcs for a few ycars. Mary's family has opcrated Mexican restaurants and taco trucks for the past two gencrations, and Mary noticcd thcre were no taco truck Scrviccs in thc town where their university was located. To reduce the amount they would need for an initial investmcnt, they decided to start a busincss operating a taco cart rathcr than a taco truck, from which they would cook and scrve traditional Mexican-stylc strect food. They bought a used taco cart for $18,000. This cost, along with the cost for supplics to get startcd, a business license, and street vendor licensc brought their…
Prepare a sales budget including a column for each year in and a column for the total. The budgets should also include a schedule of expected cash collection, by year and in total.Make your assumptions about the type of sales (cash versus credit) and your credit terms clear.
Required 1. Prepare a cash receipts budget schedule for each of the first three months (July – September), including the total receipts per month 2. Prepare a material purchases budget schedule for each of the first three months (July – September), including the total purchases per month 3. Prepare a cash budget for the month of July. Include the owners’ cash contributions