Prepare projected profit and loss statement

Assignment Help Accounting Basics

Reference no: EM133542213

Task: Prepare Projected Profit and Loss Statement a) You are required to prepare a Projected Profit and Loss Statement for the first 12 months of the home-based retail business venture based on the information you have gathered so far, and the assumptions listed below: • Only Desks 1-3 will be sold, selling price will be wholesales price +30% profit margin In total 30 desks are expected to be sold every week of the year $40,000 of wages is to be included and paid to the owner All desks will be delivered directly to customers and customers pay the delivery fee directly to the delivery company. Projected Profit and Loss for Upcoming Financial Year 20XX Total Income Purchases (estimate using wholesale price $250 per unit x 30 units per week x 52 weeks) Total Cost of Goods Sold Income Sale of Desks Cost of Goods Sold Delivery from Supplier/Manufacturer (estimate $80 per unit x 30 unit per week x 52 weeks) Expenses Set-up costs Rent ($150 x 52 weeks)

Reference no: EM133542213

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