Assignment 1 Win 2016

Assignment1 Win 2016

Assignment1 Win 2016

Question1

Theexpected service dates to the particular customers of Ice are asshown in the excel spreadsheet attached.

Question2

Theanticipated revenue for the fiscal year 2016 was $100,240 while therevenue for the year 2017 was $115,090. The growth in the number ofcustomers in the fiscal year 2017 resulted to an increase in theanticipated revenue for Ivan Cold Ears. The revenue estimation are asshown in the excel spreadsheet of the books of accounts of the firm.However, it should be noted that the revenue is exclusive of taxcharged and therefore, the payments charged from the customers iscomputed after adding 15% tax.

Question3

Listof customers represented in the excel spreadsheet.

Question4

Therevenue for the year 2016 can be summarized as shown in the tablesbelow see the excel spreadsheet for the workings.

RevenueSummary (Contract type)

Summary

Contract type

Revenue

Commercial

$34,500

Large

$36,340

Medium

$21,720

Small

$7,680

Total Revenue 2016

$100,240

RevenueSummary (service type)

Summary

Service type

Revenue

1 (each) individual snow clearing

$900

10 snow clearings for the season

$29,920

20 snow clearings for the season

$29,460

Unlimited snow clearings for season

$39,960

Totals revenue (2016)

$100,240

Question5

Rent= $15,000 per month

Purchase= $2,000 per month

Cost= $15,000 × 5 = $60,000

Revenuefor the year 2016 = $100,240

Profit= Revenue – Cost = 100,240 – 60,000 = $40,240

Thereforein is wise to take this rent to own option since it is resulting to aprofit by the end of financial year.

Icewill have contributed $10,000 towards the purchase of the equipment.That is ($2,000 × 5) = $10,000

Question6

Increasingthe prices in the fiscal year 2017 will automatically result to anincrease in the anticipated revenue. With the new prices standards,the expected revenue in the year 2017 will be $140,990.

Question7

Quotationcreated in the worksheet