[jconda]

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

[paraclete]

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.

[jconda]

paraclete,

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