Cashflow and Financial Analysis – Ship’em In&Out
IMPORTANT:
Preparing the cashflow statement and Financial analysis
To submit the cash flow statement, you need to use the template document in CANVAS. The template is prepared to satisfy all the assignment business’s so there may be extra line items in the template.
You need to prepare the cash flow in accordance with the teaching materials for the topic.
Once you have completed the cash flow you are then ready to complete a financial analysis of the business.
Download the template to complete this assignment
The DUE DATE for this assignment is Sunday 5th February 2023 at 11:59 pm
Case Study Background
Ship’em In&Out PTY LTD (ABN 12 345 678 901) operates as a company and you are the accountant for them. Ship’em In&Out PTY LTD is a wholesale business specialising in electronic equipment made in Australia. The business started its first month of the new year which started on 1st December 2022. You should have two months of data, being the manual accounting and the electronic accounting MYOB. You will need to prepare a cash flow statement for your business. Once you have completed a cashflow statement then you will be required to prepare a short report on the financial position of the business.
| Ship’em In&Out Pty Ltd | |||
| Balance Sheet as at 30th November 2022 | |||
| ASSETS | |||
| Current Assets | |||
| Cash at Bank | $18,191.00 | ||
| Accounts Receivable | $13,420.00 | ||
| Inventory | $9,130.00 | ||
| Prepaid Insurance | $2,500.00 | ||
| Stationery Supplies | $640.00 | ||
| Total Current Assets | $43,881.00 | ||
| Non-current Assets | |||
| Computers | $6,000.00 | ||
| Accumulated Depreciation – Office Computers | ($300.00) | $5,700.00 | |
| Warehouse Equipment | $21,000.00 | ||
| Accumulated Depreciation – Warehouse Equip. | ($9,600.00) | $11,400.00 | |
| Total Non-current Assets | $17,100.00 | ||
| TOTAL ASSETS | $60,981.00 | ||
| LIABILITIES | |||
| Current Liabilities | |||
| Accounts Payable | $16,500.00 | ||
| Wages Payable | $1,824.00 | ||
| Total Current Liabilities | $18,324.00 | ||
| Non-current Liabilities | |||
| TOTAL LIABILITIES | $18,324.00 | ||
| NET ASSETS | $42,657.00 | ||
| OWNER’S EQUITY | |||
| Share Capital | $37,000.00 | ||
| Retained Earnings | $5,657.00 | ||
| TOTAL EQUITY | $42,657.00 |
| Ship’em In&Out Pty Ltd | ||
| Income Statement | ||
| For the two months ended 31st January 2023 | ||
| INCOME | ||
| Sales – | 86,693.20 | |
| TOTAL INCOME | 86,693.20 | |
| COST OF SALES | ||
| Cost of Goods Sold | 43,340.00 | |
| TOTAL COST OF SALES | 43,340.00 | |
| GROSS PROFIT | 43,353.20 | |
| EXPENSES | ||
| Wages Expense | 26,140.00 | |
| Rent Expense | 3,500.00 | |
| Mobile Phone Expenses | 350.00 | |
| Electricity expense | 0.00 | |
| Insurance Expense | 500.00 | |
| Advertising Expense | 0.00 | |
| Vehicle Expense | 225.00 | |
| Cleaning Expense | 0.00 | |
| Stationery Expense | 390.00 | |
| Utilities Expense | 0.00 | |
| Depreciation Expense | 620.00 | |
| Loss on the sale of assets | 1,150.00 | |
| Interest Expense | 70.00 | |
| TOTAL EXPENSES | 32,945.00 | |
| NET PROFIT/(LOSS) | 10,408.20 |
| Ship’em In&Out Pty Ltd | |||
| Balance Sheet | |||
| as at 31st January 2023 | |||
| ASSETS | |||
| Current Assets | |||
| Cash at Bank | $84,943.20 | ||
| Accounts Receivable | $0.00 | ||
| Inventory | $220.00 | ||
| Prepaid Rent | $0.00 | ||
| Prepaid Insurance | $2,000.00 | ||
| Stationery Supplies | $250.00 | ||
| Total Current Assets | $87,413.20 | ||
| Non-current Assets | |||
| Computers | $6,000.00 | ||
| Accumulated Dep’n – Office Computers | ($550.00) | $5,450.00 | |
| Forklift | $13,500.00 | ||
| Accumulated depreciation Forklift | ($120.00) | $13,380.00 | |
| Total Non-current Assets | $18,830.00 | ||
| TOTAL ASSETS | $106,243.20 | ||
| LIABILITIES | |||
| Current Liabilities | |||
| Accounts Payable | $24,750.00 | ||
| Wages Payable | $1,368.00 | ||
| Mobile Phone Payable | $0.00 | ||
| Prepaid Revenue | $13,640.00 | ||
| Total Current Liabilities | $39,758.00 | ||
| Non-current Liabilities | |||
| Loan – ABC Bank | $13,420.00 | ||
| TOTAL LIABILITIES | $53,178.00 | ||
| NET ASSETS | $53,065.20 | ||
| OWNER’S EQUITY | |||
| Share Capital | $37,000.00 | ||
| Retained Earnings | $16,065.20 | ||
| TOTAL EQUITY | $53,065.20 |
Get expert help for Cashflow and Financial Analysis and many more. 24X7 help, plag free solution. Order online now!
