I'M STUCK AND I DESPERATELY NEED HELP!
The problem is am terrible at math in every way. I failed this assignment in January. I failed it again last week and my lecturer has allowed me to repeat it again for free.
I failed again, he has again helped by asking me to have another go! Last chance really! so please please help anyway you can. answer ANY question from the 5 below.
Background: SmartWeb
Maggie Smith, an Engineering graduate from the University of Ulster , has decided to set-up a web design and IT training consultancy. She will work from home initially and has turned a spare room into an office. She has secured initial work with some local companies for web design and a training contract with a nearby training centre. Her father has given her a small loan of £3000 to help her set-up the venture which she lodges in month 2. She will commence her business in March 2006 (month 1).
1. Sales
The projected turnover (sales) is as follows:
Web Design
Training
*Sales will be on a cash or cheque basis.2. Capital Equipment
Maggie plans to buy a lap top computer in month 4 costing £700 (£19.45 per month depreciation).
She also plans to buy a projector and LCD panel in month 8 costing £1500 (£41.65 per month depreciation).
3. Software
In month 6 she will buy £1000 worth of software.
4. Stock
She will spend £400 on training material stock in month 1. There is a nil opening stock as this is her first year in business. The stock of materials left at the end of the year has an expected value of £50.
5. Printing & Stationery
£100 in months 2, 5, 8 & 11.
6. Power, Heat & Light
Payments of £55 in month 2; £20 for months 4 & 8; £75 for months 6 & 9; £40 for month 12.
7. Transportation & Entertainment
£160 for months 1- 8 & months 11 �12. £120 for months 9 & 10.
8. Promoter's Drawings
Maggie intends paying herself £1600 each month as a salary.
9. Telephone & Fax
Expected payments are £40 for month 1& 2; £140 from months 3-12.
10. Web Hosting
A payment of £435 will be due in month 2.
11. Personal Loan Repayments
She has agreed to repay £20 in month 3 and £80 each month there after.
12. Subscriptions
£37 is due in months 1 & 12.
13. Financial Expenses
£250 in month 12 to be paid to the accountant.
14. Depreciation
IT equipment will be depreciated to zero value over a 3 year period. The Depreciation for the IT equipment in the first year will be £322 for the Equipment listed in point 2 above.
CASH FLOW ATTACHED
QUESTIONS:
1. What is the cost of sales?
2.What is the total cost of expenses for the year?
3. How much is Maggie projected total receipts for month 6?
4.How will the 3600 Maggie spent to replace her equipment affect her projected net profit or loss? The depreciation on this equipment in the last 2 months of year 1 will be 200. What will the Net Profit/Loss be?
5. How much has Maggie projected to spend on payments for the year?
6. How much is Maggie projected sales for month 10?
7. What is the projected net profit or loss for the year?
If any of you can answer anything please help. I'm not asking you to do all the questions. If people can each answer one question or two from the seven i will be able to FINALLY pass after half a year later since january!
The remaining 3 questions from the assessment i didnt ask as i know the answers to them!
I wouldnt ask if i wasnt in serious bother with it
The problem is am terrible at math in every way. I failed this assignment in January. I failed it again last week and my lecturer has allowed me to repeat it again for free.
I failed again, he has again helped by asking me to have another go! Last chance really! so please please help anyway you can. answer ANY question from the 5 below.
Background: SmartWeb
Maggie Smith, an Engineering graduate from the University of Ulster , has decided to set-up a web design and IT training consultancy. She will work from home initially and has turned a spare room into an office. She has secured initial work with some local companies for web design and a training contract with a nearby training centre. Her father has given her a small loan of £3000 to help her set-up the venture which she lodges in month 2. She will commence her business in March 2006 (month 1).
1. Sales
The projected turnover (sales) is as follows:
Web Design
| Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| Amount £ | 380 | 548 | 180 | 448 | 280 | 405 | 55 | 500 | 275 | 1325 | 500 | 500 |
Training
| Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| Amount £ | 1380 | 1644 | 2450 | 1525 | 2818 | 890 | 2150 | 1500 | 825 | 3975 | 1500 | 2000 |
*Sales will be on a cash or cheque basis.2. Capital Equipment
Maggie plans to buy a lap top computer in month 4 costing £700 (£19.45 per month depreciation).
She also plans to buy a projector and LCD panel in month 8 costing £1500 (£41.65 per month depreciation).
3. Software
In month 6 she will buy £1000 worth of software.
4. Stock
She will spend £400 on training material stock in month 1. There is a nil opening stock as this is her first year in business. The stock of materials left at the end of the year has an expected value of £50.
5. Printing & Stationery
£100 in months 2, 5, 8 & 11.
6. Power, Heat & Light
Payments of £55 in month 2; £20 for months 4 & 8; £75 for months 6 & 9; £40 for month 12.
7. Transportation & Entertainment
£160 for months 1- 8 & months 11 �12. £120 for months 9 & 10.
8. Promoter's Drawings
Maggie intends paying herself £1600 each month as a salary.
9. Telephone & Fax
Expected payments are £40 for month 1& 2; £140 from months 3-12.
10. Web Hosting
A payment of £435 will be due in month 2.
11. Personal Loan Repayments
She has agreed to repay £20 in month 3 and £80 each month there after.
12. Subscriptions
£37 is due in months 1 & 12.
13. Financial Expenses
£250 in month 12 to be paid to the accountant.
14. Depreciation
IT equipment will be depreciated to zero value over a 3 year period. The Depreciation for the IT equipment in the first year will be £322 for the Equipment listed in point 2 above.
CASH FLOW ATTACHED
QUESTIONS:
1. What is the cost of sales?
2.What is the total cost of expenses for the year?
3. How much is Maggie projected total receipts for month 6?
4.How will the 3600 Maggie spent to replace her equipment affect her projected net profit or loss? The depreciation on this equipment in the last 2 months of year 1 will be 200. What will the Net Profit/Loss be?
5. How much has Maggie projected to spend on payments for the year?
6. How much is Maggie projected sales for month 10?
7. What is the projected net profit or loss for the year?
If any of you can answer anything please help. I'm not asking you to do all the questions. If people can each answer one question or two from the seven i will be able to FINALLY pass after half a year later since january!
The remaining 3 questions from the assessment i didnt ask as i know the answers to them!
I wouldnt ask if i wasnt in serious bother with it
