We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Accounting - Assignment Example

Comments (0)
John. Dr. John is a qualified Doctor specialized in personal Fitness and has got about 15 years of experience in this field. Dr. John is the inventor and designer of "Indoor Fitness Equipment."…
Download full paper
Read TextPreview

Extract of sample

Download file to see previous pages... It is his intention to obtain funds from bank to procure the fixed assets required for production of the product.
The start-up costs for Personal Fitness Equipment Inc. are estimated at $1,50,000. All start-up assumptions are based on an actual infusion of $50,000 in the form of capital to be introduced by Dr.John. The balance amount of $ 1,00,000 is proposed to be brought in through Bank Finance at the interest rate of 3%. Certain portion of the funds will be utilized to procure raw materials to fund production of initial inventory.
A company office would be located at the Atlanta market area. Available office space has been located in Atlanta. This office space is small and may be secured at nominal cost. As needs dictate office and/or distribution facilities will be expanded. Initially, the small office will serve to manage marketing functions and sales/order processing.
Personal Fitness Equipment Inc, is in the business of manufacturing Fitness equipments for personal use. The promoter has come up with a unique design of Personal Fitness Equipment (PFE). This equipment is easy to use and is being priced at a cheaper rate. The main feature of this equipment is the safety standards and the wide range of exercises that can be performed with this equipment. The equipment is proposed to be made with metal of ideal weight.
This product designed by Dr. John can be produced at low cost, is lightweight, independent tests have been performed at university and Local Gyms. The users have given positive feedback that the regularity of their physical exercise has increased after purchasing this product.
The Appendix section has all the relevant Financial Projections. The sales forecast for the first year of operation is estimated at USD 500000. The company is expected to earn Gross profit at the rate of 54% of the turnover. The net profit of the company is estimated at USD 113770, which workout to about 23% of the turnover. ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Accounting Companies should be required to use the same accounting method for inventory. That would ensure that there is no exploitation of the customers because of the inventory methods that are been used by companies. The other advantage of that is the fact that there will be uniformity in the reporting of financial statements by the various companies.
3 Pages(750 words)Assignment
Part I a) b) c) d) In ACTG 381, 382, and 383 my grades were _____ . I believe that I am an excellent accountant. I always comply with the generally accepted accounting principle. To me satisfying the needs of the customer is a top priority. As an accountant it is my duty to always give a maximum effort in order to complete the tasks at hand on time.
4 Pages(1000 words)Assignment
Initially the company was formed with a view to help customers save on their purchase. Over time, this has become the underlying business philosophy of the company that has earned a global brandname for itself. Walmart Inc. is listed on the NYSE from
9 Pages(2250 words)Assignment
On January 10, Mary Dawes uses her Pierson Co. credit card to purchase merchandise from Pierson Co. for $9,000. On February 10, Dawes is billed for the amount due of $9,000. On February 12, Dawes pays $5,000 on the balance due. On March
5 Pages(1250 words)Assignment
Securities & Exchange Commission.” The Staff Notice 51-333 gives a detailed guide and sample disclosure provisions unlike in the past when CSA responded to boilerplate with general requests to environmental disclosure. The Staff Notice 51-333 discusses
3 Pages(750 words)Assignment
In addition, they were to be supervised even after for a period of three years upon their release. The two were convicted of wire fraud and conspiracy on 19 November 2012. They had had actively participated underground in misusing the financial assets of
1 Pages(250 words)Assignment
In Brooklyn New York where the company started, Ameritel had a single store in 1996. However, today it has expanded to one of the America most influential national wireless providers and retail partner. Ameritel gives priority to business partner connection, field
1 Pages(250 words)Assignment
From a social point of view, it is the hopes of the relevant authorities that many people if not all are beneficiaries of these advances in health care system. However, healthcare is not only a social or scientific issue; it is also an economic
1 Pages(250 words)Assignment
The company automates parts of the general production line. The packaging stage in the production line is run by the programmed machines, which are relatively faster and efficient. Grow sales enhance the development of new markets for
1 Pages(250 words)Assignment
The variable cost that the company experiences include oil transportation and oil storage cost that may change with the changes in productivity. The mixed cost of the business will be the contractual workers and the utility payments that
2 Pages(500 words)Assignment
Let us find you another Assignment on topic Accounting for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us