Hi everyone,

I hope you will be able to help me. I am currently writing financial projections for my business plan (mobile application) and I am stuck on the balance sheet, I just can't balance it out. All the information is presented below and in the attachment. I would be really grateful if you could help me out. Thank you for your effort in advance.





Projected Balance Sheet


Assets
$
$
Liabilities & Stakeholders' Equity
$
$


Current Assets


Current Liabilities




Cash in Bank
1,439,250

Accounts Payable
-



Accounts Receivable
-

Accrued Expenses
100,800



Inventory
-

Taxes Payable
182,892



Prepaid Expenses
-

Total Current Liabilities

283,692


Other assets
-






Total Current Assets

1,439,250













Fixed Assets


Long-term Liabilities




Machinery & Equipment
3,000

Notes Payable
-



Furniture & Fixture
-

Capital Lease Obligations
-



Leasehold Improvements
-

Debentures
-



Land & Buildings
-

Mortgage Loans
-



Other fixed assets
-

Other Bank Loans
-



Less Accumulated Depreciation
- 540

Total Liabilities

283,692


Total Fixed Assets

2,460













Other Assets


Stakeholders' Equity




Intangibles
-

Paid in Capital
20,000



Deposits
-

Capital Stock
200,000



Goodwill
-

Retained Earnings
1,036,358



Other
-

Total Stakeholders' Equity

1,256,358


Total Other Assets

-





Total Assets

1,441,710
Total Liabilities & Stockholders' Equity

1,540,050

firstly your retained earnings and taxes payable do not match the data in the spreadsheets and there may be rounding errors in the spreadsheets throwing off the totals


secondly I don't understand how you can have monthly taxes remaining the same dispite escalating revenue
this may understate your tax liability

what you have in the spreadsheets appears feasible but you have an income statement on a cash basis and accrued expenses; sort of like matching apples and oranges, I suggest you will find your difference there

always differentuate between capital and operating cash flows it simplifies.

paraclete,

Thanks for your reply! I'll try to sort it out based on your review.