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All I know is that I am to use an imaginary company that I make up other than that I don't know what to do. This is what I was given. This is all the information I was given. The company was not given nor were any numbers. I am trying to figure out what I need to do.

I have no other information. This is what I was given hince the reason for the assistance.

the financial numbers were not given. I just need a general idea of how to complete this with any numbers so I can understand what I'm supposed to do.

? - . X mysweetmind Espitia Bad 7 i Normal Conditional Format as Good Formatting Table Styles Neutral XU S Balance sheet projected (1) - Excel (Product Activation Failed) DRAWING TOOLS FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FORMAT % Cut Arial - 10 AA === D Wrap Text Accounting Copy - Paste Format Painter Painter B I U. - A E Merge & Center - $ %, too! Clipboard Font Alignment Number Text Box 6 X fr B C D E F G H I J 1 Balance Sheet (Projected) 2 Notes on Preparation Insert Delete Format AutoSum A- Fill Sort & Find & Clear Filter - Select Editing Cells K L M N O P Q R S T U V 4 You may want to print this information to use as reference later. To delete these instructions, click the border of this text box and then press the DELETE key. Projecting your balance sheet can be quite a complex accounting problem, but that does not mean you need to be a professional accountant to do it or to benefit from the exercise. The desired result is not a perfect forecast, but rather a thoughtful plan detailing what additional resources will be o needed by the company, where they will be needed, and how they will be financed. Using your last historical balance sheet as a starting point, 9 project what your balance sheet will look like at the end of the 12 month period covered in your Profit & Loss and Cash Flow forecasts. How will 10 the year's operations affect assets, debts and owners' equity? For example, if you are planning significant sales growth in the coming year, go 11 through the balance sheet item by item and think about the probably effects of assets. 12 Ex. ASSETS: Inventory and Accounts Receivable will have to grow. New equipment may be needed for increased production. 13 You may draw down on cash to finance some of this. 16 Now, since a balance must balance, you need to consider the effects on the other half of the statement, liabilities and equity. Ex. LIABILITIES & EQUITY: Some of the growth may be financed by profits retained in the business as Retained Earnings. Your Profit & Loss 19 Projection will tell you how much might be available from that source. Funds may be contributed by the owners through contributions of more Invested Capital or loans to the company (Notes Payable to Stockholders). Suppliers may provide some of the financing via increased Accounts 18 Payable. The rest will have to be financed by borrowing, which can be: Short term loans (due within 12 months) such as a line of credit or by Long 19 Term Debt (maturity greater than 12 months). 20 21 Technical Tips: 22 1. Your firm's balance sheet no doubt has more lines than this template. For clarity and ease of analysis, we recommend you combine categories 23 to fit into this compressed format 2. As always for projections, we recommend that you condense your numbers. Most people find it useful to express the values in thousands, rounding to the nearest hundred dollars, for example, $11,459 would be entered as 11.5. 3. In the Fixed Assets section, the "LESS accumulated depreciation" 26 figure is the total of all depreciation accrued over the years on all fixed assets still owned by the company. Be sure to enter it as a negative 21 number so the spreadsheet will subtract it from Total Fixed Assets. 28 4. In Owners' Equity, "Retained Earnings-Beginning" is retained earnings as of the last historical balance sheet or the end of the last fiscal year. 29 "Retained Earnings-Current" is net profit for the period of the projections, less any owner's draw (for partnerships and proprietorships) or dividends 30 paid (for corporations). 31 32 25 Sheet1 Sheet2 Sheet3 + READY @ U -- + 100% - 11:28 PM O a Type here to search E 4/5/2020 Balance sheet projected (1) - Excel (Product Activation Failed) ? - . X FORMULAS DATA REVIEW VIEW mysweetmind Espitia X GS FILE HOME INSERT PAGE LAYOUT Cut Arial - 10 Copy - Paste Format Painter BI D A Clipboard Font AA === ao Wrap Text Accounting Normal Bad AutoSum- A SE Merge & Center - $ % 48.00 Neutral Insert Delete Format Conditional Format as Good Formatting Table Styles Clear Sort & Find & Filter - Select Editing Alignment Number D E F G H I J K L M N O P Q R S T U V B C 1 Balance Sheet (Projected) 2 Enter your Company Name here Beginning as of mm/dd/yyyy as of mm/dd/yw 5 6 Assets 7 8 Current Assets 9 Cash in bank 10 Accounts receivable 11 Inventory 12 Prepaid expenses 13 Other current assets 14 Total Current Assets 15 16 Fixed Assets 17 Machinery & equipment 18 Furniture & fixtures 19 Leasehold improvements 20 Land & buildings 21 Other fixed assets 22 (LESS accumulated 23 Total Fixed Assets (net of 24 25 Other Assets 26 Intangibles 27 Deposits 28 Goodwill 29 Other 30 Total Other Assets $ 31 32 TOTAL Assets 33 34 Liabilities and Equity Sheet1 Sheet2 Sheet3 READY @ U -- + 100% 11:29 PM 1 Type here to search e M 9 wi x] Bb 4/5/2020 F Balance sheet projected (1) - Excel (Product Activation Failed) ? - . X FORMULAS DATA REVIEW VIEW mysweetmind Espitia X GS FILE HOME INSERT PAGE LAYOUT Cut Arial - 10 Copy - Paste Format Painter BI D A Clipboard Font AA === ao Wrap Text Accounting = 12DDER Normal Bad AutoSum- A SE Merge & Center - $ % 48.00 Neutral Insert Delete Format Conditional Format as Good Formatting Table Styles Clear Sort & Find & Filter - Select Editing Alignment Number D E F G H I J K L M N O P Q R S T U V B C 1 Balance Sheet (Projected) 2 Enter your Company Name here 3 4 Beginning as of mm/dd/yyyy Projected as of mm/dd/ww 34 Liabilities and Equity 36 Current Liabilities 37 Accounts payable 38 Interest payable 39 Taxes payable 40 Notes, short-term (due within 41 Current part, long-term debt 42 Other current liabilities 43 Total Current Liabilities 44 45 Long-term Debt 46 Bank loans payable 47 Notes payable to stockholders 48 LESS: Short-term portion 49 Other long term debt 50 Total Long-term Debt 51 52 Total Liabilities 53 54 Owners' Equity 55 Invested capital 56 Retained earnings - beginning 57 Retained earnings - current 58 Total Owners' Equity 59 60 Total Liabilities & Equity 61 1 Sheet1 Sheet2 READY 1 Type here to search Sheet3 + @ U -- + 100% - 11:29 PM e M 9 wi A x] Bb ll 4/5/2020 ? - . X mysweetmind Espitia Bad 7 i Normal Conditional Format as Good Formatting Table Styles Neutral XU S Balance sheet projected (1) - Excel (Product Activation Failed) DRAWING TOOLS FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FORMAT % Cut Arial - 10 AA === D Wrap Text Accounting Copy - Paste Format Painter Painter B I U. - A E Merge & Center - $ %, too! Clipboard Font Alignment Number Text Box 6 X fr B C D E F G H I J 1 Balance Sheet (Projected) 2 Notes on Preparation Insert Delete Format AutoSum A- Fill Sort & Find & Clear Filter - Select Editing Cells K L M N O P Q R S T U V 4 You may want to print this information to use as reference later. To delete these instructions, click the border of this text box and then press the DELETE key. Projecting your balance sheet can be quite a complex accounting problem, but that does not mean you need to be a professional accountant to do it or to benefit from the exercise. The desired result is not a perfect forecast, but rather a thoughtful plan detailing what additional resources will be o needed by the company, where they will be needed, and how they will be financed. Using your last historical balance sheet as a starting point, 9 project what your balance sheet will look like at the end of the 12 month period covered in your Profit & Loss and Cash Flow forecasts. How will 10 the year's operations affect assets, debts and owners' equity? For example, if you are planning significant sales growth in the coming year, go 11 through the balance sheet item by item and think about the probably effects of assets. 12 Ex. ASSETS: Inventory and Accounts Receivable will have to grow. New equipment may be needed for increased production. 13 You may draw down on cash to finance some of this. 16 Now, since a balance must balance, you need to consider the effects on the other half of the statement, liabilities and equity. Ex. LIABILITIES & EQUITY: Some of the growth may be financed by profits retained in the business as Retained Earnings. Your Profit & Loss 19 Projection will tell you how much might be available from that source. Funds may be contributed by the owners through contributions of more Invested Capital or loans to the company (Notes Payable to Stockholders). Suppliers may provide some of the financing via increased Accounts 18 Payable. The rest will have to be financed by borrowing, which can be: Short term loans (due within 12 months) such as a line of credit or by Long 19 Term Debt (maturity greater than 12 months). 20 21 Technical Tips: 22 1. Your firm's balance sheet no doubt has more lines than this template. For clarity and ease of analysis, we recommend you combine categories 23 to fit into this compressed format 2. As always for projections, we recommend that you condense your numbers. Most people find it useful to express the values in thousands, rounding to the nearest hundred dollars, for example, $11,459 would be entered as 11.5. 3. In the Fixed Assets section, the "LESS accumulated depreciation" 26 figure is the total of all depreciation accrued over the years on all fixed assets still owned by the company. Be sure to enter it as a negative 21 number so the spreadsheet will subtract it from Total Fixed Assets. 28 4. In Owners' Equity, "Retained Earnings-Beginning" is retained earnings as of the last historical balance sheet or the end of the last fiscal year. 29 "Retained Earnings-Current" is net profit for the period of the projections, less any owner's draw (for partnerships and proprietorships) or dividends 30 paid (for corporations). 31 32 25 Sheet1 Sheet2 Sheet3 + READY @ U -- + 100% - 11:28 PM O a Type here to search E 4/5/2020 Balance sheet projected (1) - Excel (Product Activation Failed) ? - . X FORMULAS DATA REVIEW VIEW mysweetmind Espitia X GS FILE HOME INSERT PAGE LAYOUT Cut Arial - 10 Copy - Paste Format Painter BI D A Clipboard Font AA === ao Wrap Text Accounting Normal Bad AutoSum- A SE Merge & Center - $ % 48.00 Neutral Insert Delete Format Conditional Format as Good Formatting Table Styles Clear Sort & Find & Filter - Select Editing Alignment Number D E F G H I J K L M N O P Q R S T U V B C 1 Balance Sheet (Projected) 2 Enter your Company Name here Beginning as of mm/dd/yyyy as of mm/dd/yw 5 6 Assets 7 8 Current Assets 9 Cash in bank 10 Accounts receivable 11 Inventory 12 Prepaid expenses 13 Other current assets 14 Total Current Assets 15 16 Fixed Assets 17 Machinery & equipment 18 Furniture & fixtures 19 Leasehold improvements 20 Land & buildings 21 Other fixed assets 22 (LESS accumulated 23 Total Fixed Assets (net of 24 25 Other Assets 26 Intangibles 27 Deposits 28 Goodwill 29 Other 30 Total Other Assets $ 31 32 TOTAL Assets 33 34 Liabilities and Equity Sheet1 Sheet2 Sheet3 READY @ U -- + 100% 11:29 PM 1 Type here to search e M 9 wi x] Bb 4/5/2020 F Balance sheet projected (1) - Excel (Product Activation Failed) ? - . X FORMULAS DATA REVIEW VIEW mysweetmind Espitia X GS FILE HOME INSERT PAGE LAYOUT Cut Arial - 10 Copy - Paste Format Painter BI D A Clipboard Font AA === ao Wrap Text Accounting = 12DDER Normal Bad AutoSum- A SE Merge & Center - $ % 48.00 Neutral Insert Delete Format Conditional Format as Good Formatting Table Styles Clear Sort & Find & Filter - Select Editing Alignment Number D E F G H I J K L M N O P Q R S T U V B C 1 Balance Sheet (Projected) 2 Enter your Company Name here 3 4 Beginning as of mm/dd/yyyy Projected as of mm/dd/ww 34 Liabilities and Equity 36 Current Liabilities 37 Accounts payable 38 Interest payable 39 Taxes payable 40 Notes, short-term (due within 41 Current part, long-term debt 42 Other current liabilities 43 Total Current Liabilities 44 45 Long-term Debt 46 Bank loans payable 47 Notes payable to stockholders 48 LESS: Short-term portion 49 Other long term debt 50 Total Long-term Debt 51 52 Total Liabilities 53 54 Owners' Equity 55 Invested capital 56 Retained earnings - beginning 57 Retained earnings - current 58 Total Owners' Equity 59 60 Total Liabilities & Equity 61 1 Sheet1 Sheet2 READY 1 Type here to search Sheet3 + @ U -- + 100% - 11:29 PM e M 9 wi A x] Bb ll 4/5/2020

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