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3 years ago

Which of the following sections of a business plan comes first but should be written last?

Business

1 answer:

Naya [18.7K]3 years ago

6 0

Answer:

B. The executive summary

The executive summary usually comes first but written last since it is supposed to give away the key points of the presentation in a short but precise manner to attract the reader.

Explanation:

The executive summary is a short and concise explanation of the key events that are to be further discussed in the business plan. It serves to prepare the reader for the coming events in the business plan by giving him/her an overview of the key points in the business plan. A good executive summary also serves to captivate the intended reader to want to know more about the business plan.

A good executive summary should have the following properties;

1. Captivating opening statement; the reader needs something that will draw their attention to the business plan and make them want to know more. They need an opener that is interesting.

2. Short and precise; this is where the reader needs to know that you actually understand what you are talking about. This section has to be very precise but short.

3. Problem solution; in this section, you can provide answers to a particular problem. This part also needs to be short since you are writing an overview of the solutions. The detailed explanations will be in the business plan.

4. Proof that it can be done; this is where you provide evidence that you and your team can be entrusted with the business to run it to it's success.

5. Call to action; it's now time to close the deal. Set yourself above the competition to make sure that your client has no other option but to settle for your plan.

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E6-18 (Algo) Inferring Bad Debt Write-Offs and Cash Collections from Customers LO6-2 On its recent financial statements, Hassell

timofeeve [1]

Answer:

1. What amount of bad debts was written off during the current year?

Allowance for Doubtful Accounts

$ 147 Credit

$ 94 Credit

$ 58 Debit

$ 183 Credit Balance

Dr Allowance for Uncollectible Accounts $ 58

Cr Accounts Receivable Net $ 58

2. Based on your answer to requirement (1), solve for cash collected from customers for the current year

Accounts Receivable

$ 11.785 Debit

$ 61.170 Debit

$ 58 Credit

$ 58.825 Credit

$ 14.072 Debit Balance

Explanation:

To know the amount that was written off during the current year, it's necessary to take the balance of the prior year and add the amount recorded as bad debt during the year, with these we calculate the amounts of difference between the balance of the current year and these values, the amount it's the value written-off during the current year.

Hassell recorded bad debt expense of $94 and there were no bad debt recoveries during the current year.

Dr Bad Debt Expense $ 94

Cr Allowance for Uncollectible Accounts $ 94

1. What amount of bad debts was written off during the current year?

Allowance for Doubtful Accounts

$ 147 Credit

$ 94 Credit

$ 58 Debit

$ 183 Credit Balance

Dr Allowance for Uncollectible Accounts $ 58

Cr Accounts Receivable Net $ 58

2. Based on your answer to requirement (1), solve for cash collected from customers for the current year

With these value calculated we can know find the total amount collected during the year, as previously done, we apply the same procedure to find the amount, we know the movements done during the current year and by difference we find the total value collected.

Accounts Receivable

$ 11,785 Debit

$ 61,170 Debit

$ 58 Credit

$ 58,825 Credit

$ 14,072 Debit Balance

Dr Cash $ 58.825

Cr Accounts Receivable Net $ 58.825

5 0

4 years ago

In the short run,

telo118 [61]

Answer:

b i guess

Explanation:

3 0

3 years ago

Prior to the launch of its financial service, Mint made extensive use of ______ which helped search engines view this business a

Dafna1 [17]

Answer:

Blogs

Explanation:

Blogs are information websites that provides relevant information for a target group in a diary style arranged according to date.

The most recent posts appear first in the website.

Mint has used blogs to provide relevant information to users.

Search engines analyse the contents of websites to determine of they are relevant sources of information.

Mint's blogs have help search engines identify the company as a relevant source of personal financial topics

8 0

3 years ago

Blossom Corporation is authorized to issue 49,000 shares of $5 par value common stock. During 2017, Blossom took part in the fol

Tanzania [10]

Answer:

See explanation section

Explanation:

Requirement A

Debit Cash $194,600

Credit Common stock - Par value $ 22,500

Credit Common stock - Additional paid-in-capital $172,100

Calculation:

Cash: 4,500 shares × $45 = $202,500

As the company's par value is $5,

Common stock - Par value: 4,500 shares × $5 = $22,500

As the market value of the stock is $45, the additional stock value = $45 - $5 = $40. Moreover, the company has issuance cost of $7,900

Additional common stock apart from par value minus the issuance cost = ($4,500 shares × $40) - $7,900 = $180,000 - $7,900 = $172,100.

The company issue common stock with a market value of $45 and issuance cost of $7,900 in exchange of cash.

Requirement B

Debit Land $50,600

Credit Common stock - Par value $ 5,500

Credit Common stock - Additional paid-in-capital $45,100

Calculation:

Land: 1,100 shares × $46 = $50,600

As the company's par value is $5,

Common stock - Par value: 1,100 shares × $5 = $5,500

As the market value of the stock is $46, the additional stock value = $46 - $5 = $41.

Additional common stock apart from par value = ($1,100 shares × $41) = $45,100.

Although the land is appraised for $49,000, due to the increased market price stock, it is valued more.

The company issue common stock with a market value of $46 in exchange for land.

Requirement C

Debit Treasury Stock $19,270

Credit Cash $19,270

Purchasing share from the stock market is known as treasury stock.

Calculation: Treasury stock = 470 shares × $41 = $19,270

Debit Cash $17,860

Credit Common Stock - par value $2,350

Credit Common stock - Additional paid-in-capital $15,510

Calculation:

As the company's par value is $5,

Common stock - Par value: 470 shares × $5 = $2,350

Additional common stock apart from par value = $470 shares × ($38 - $5) = $15,510.

The company issue common stock with a market value of $38 after purchasing those treasury stock at $41 per share.

3 0

4 years ago

The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes): Income Statement Balance Shee

iren2701 [21]

Answer:

The external financing needed is $248.50

Explanation:

For computing the external financing needed, first we have to find out the increase percentage of sales which is shown below:

As the given sales is $8,300 and projected sales is $9,545

So, the increase in percentage = (Projected sales - given sales) ÷ given sales × 100

= ($9,545 - $8,300) ÷ 8,300 × 100

= 15%

Now the projected net income equals to

= Projected sales - projected cost

= $9,545 - $6,313.50

= $3,231.50

The projected cost is computed below

= Cost + (cost × increase in percentage of sales)

= ($5,490 + $5,490 × 15%)

= $6,313.50

It is given that the assets and costs are proportional to sales,

So, the new asset value is = Assets + Assets × increase percentage of sales

= $23,200 + $23,200 × 15%

= $23,200 + $3,480

= $26,680

And, the equity value = Equity + net income

= $14,200 + $3,231.50

= $17,431.50

Plus, the debt is $9,000

The liabilities side = $17,431.50 + $9,000 = $26,431.50

So, the difference would be

= Asset - Liabilities

= $26,680 - $26,431.50

= $248.50

8 0

3 years ago