Task 18

Opening balance sheet 1.1.
12
Debit
Fixed assets
Computer and computer equipment
Communication equipment
Video and TV
Inventory
Ship inventory
Current assets
Bank account
Credit
13,000.00
3,000.00
3,500.00
20,000.00
65,000.00
23,000.00
127,500.00
Owner's equity
Bank loan (7.5%)
Subordinate loan (5%)
Revolving credit (8.5%)
50,000.00
44,500.00
30,000.00
3,000.00
127,500.00
Profit and loss account, quarter 1/12
Revenues
Business market:
26 weeks* 3 days* 20 people*80* 20% occupancy rate
17,5% VAT
Costs
21,242.55 Depreciation costs computer equipment
(13,000 book value (BV)-400 residual value (RV))/ 4 years /4 quarters
Depreciation costs communication equipment
(3000 BV-700 RV)/ 5 years/ 4 quarters
Depreciation costs video and TV
(3500 BV-0 RV) / 6 years/ 4 quarters
Depreciation costs inventory
(20,000 BV- 2000 RV)/ 8 years/ 4 quarters
Depreciation costs ship inventory
Interest bank loan
44,500 loan* 7,5% annual interest/ 4 quarters
Subordinated loan
30,000 loan* 5% annual interest/ 4 quarters
Revolving credit
3,000 credit* 8.5% annual interest/ 4 quarters
Wages
60,000 annually/ 4 quarters
Holiday allowance
Office rental costs
17.5% VAT
Leasing costs ships
2,820,000 annually/ 4 quarters
17.5% VAT
Promotion costs
17.5% VAT
Insurance costs
2500 annually/ 4 quarters
Administrative costs
17.5% VAT
Subscriptions and memberships
17.5% VAT
Printing costs
17.5% VAT
Telephone and fax costs
17.5% VAT
total revenue
21,242.55 total costs
787.50
115.00
145.83
562.50
5,416.67
834.38
375.00
63.75
15,000.00
1,200.00
4,000.00
600,000.00
10,500.00
625.00
1,914.90
425.53
17,021.28
1,063.83
660,051.17
Revenues
1. Individual trips
2 ships* 26 weeks* 20 persons *1,500* 30% occupancy rate
17,5% VAT
2. Group tours by "Misura LCC"
4 ships* 26 weeks* 10,000* 30% occupancy rate
17,5% VAT
3. Meals
6 ships* 26 weeks* 16 persons *200* 30% occupancy rate
17,5% VAT
Costs
265,531.91 (3000 BV-700 RV)/ 5 years/ 4 quarters
127,455.32 Depreciation costs inventory
Interest bank loan
Subordinated loan
Revolving credit
Wages
Holiday allowance
Office rental costs
17.5% VAT
Leasing costs ships
17.5% VAT
Promotion costs
17.5% VAT
Insurance costs
17.5% VAT
17.5% VAT
Printing costs
17.5% VAT
17.5% VAT
total revenue
791,285.10 total costs
787.50
115.00
145.83
562.50
5,416.67
834.38
375.00
63.75
15,000.00
1,200.00
4,000.00
600,000.00
10,500.00
625.00
1,914.90
425.53
17,021.28
1,063.83
660,051.17
Revenues
1. Individual trips
2 ships*26 weeks* 20 persons *1,500* 70% occupancy rate
17,5% VAT
2. Group tours by "Misura LCC"
17,5% VAT
3. Meals
6 ships* 26 weeks* 16 persons *200* 70% occupancy rate
17,5% VAT
Costs
619,574.47 (3000 BV-700 RV)/ 5 years/ 4 quarters
297,395.74 Depreciation costs inventory
Interest bank loan
Subordinated loan
Revolving credit
Wages
Holiday allowance
Office rental costs
17.5% VAT
Leasing costs ships
17.5% VAT
Promotion costs
17.5% VAT
Insurance costs
17.5% VAT
17.5% VAT
Printing costs
17.5% VAT
17.5% VAT
total revenue
1,846,331.92 total costs
787.50
115.00
145.83
562.50
5,416.67
834.38
375.00
63.75
15,000.00
1,200.00
4,000.00
600,000.00
10,500.00
625.00
1,914.90
425.53
17,021.28
1,063.83
660,051.17
Revenues
Business market:
17,5% VAT
Costs
(3000 BV-700 RV)/ 5 years/ 4 quarters
Depreciation costs inventory
Interest bank loan
(44,500 loan* 7,5% annual interest/12 months* 2months)+
((44,500 loan- 1/8*44,500 redemption of loan)*7,5% annual interest/ 12 months)
Subordinated loan
(30,000 loan* 5% annual interest/ 12 months* 2 months)+
((30,000 loan- 1/10*30,000 redemption of loan)*5% annual interest/ 12 months)
Revolving credit
Wages
Holiday allowance
Office rental costs
17.5% VAT
Leasing costs ships
17.5% VAT
Promotion costs
17.5% VAT
Insurance costs
17.5% VAT
17.5% VAT
Printing costs
17.5% VAT
17.5% VAT
total revenue
84,970.21
787.50
115.00
145.83
562.50
5,416.67
799.60
362.50
63.75
15,000.00
1,200.00
4,000.00
600,000.00
10,500.00
625.00
1,914.90
425.53
17,021.28
1,063.83
660,003.89
Profit and loss statement overview 2012

Revenue quarter 1
Revenue quarter 2
Revenue quarter 3
Revenue quarter 4
Total Profit before tax:

Corporate tax:
61,187.28* 37%
Total Profit after tax:
Profit before tax (61,187.28)- Corporate tax (19,579.93)
21,242.55
791,285.10
1,846,331.92
42,485.11
2,701,344.68
61,187.28
19,579.93
41,607.35
Costs quarter 1
Costs quarter 2
Costs quarter 3
Costs quarter 4
660,051.17
660,051.17
660,051.17
660,003.89
2,640,157.40
Cash flow statement quarter 1/12

Cash inflow
Payment of individual trips*
Payment of group tours*
Payment of business market trips*
Payment of meals*
6 ships* 26 weeks* 16 people* 200* 30% occupancy rate
Cash outflow
468,000.00 Wages
60,000 per year/4 quarters
312,000.00 Office rental costs*
18,800 per year/4 quarters
24,960.00 Leasing costs ships*
2,820,000 per year/4 quarters
149,760.00 Insurance costs
2,500 per year/ 4 quarters
Administrative costs*
Telephone and fax costs*
Subscriptions and memberships*
954,720.00
15,000.00
4,700.00
705,000.00
625.00
2,250.00
1,250.00
500.00
729,325.00

Cash inflow
Payment of individual trips*
Payment of group tours*
Payment of meals
6* 26 weeks* 16 people*200* 70% occupancy
Cash outflow
1,092,000.00 Interest payment revolving credit
728,000.00 Wages
349,440.00 Holiday allowances
Office rental costs*
Leasing costs ships*
2,820,000 per year/ 4 quarters
Insurance costs
VAT Difference quarter 1
(VAT received 954,720- 954,720/1.175)2,169,440.00 (VAT paid 713,700-713,700/1.175)
63.75
15,000.00
4,800.00
4,700.00
705,000.00
625.00
2,250.00
1,250.00
500.00
35,896.60
770,710.35

Cash inflow
None
Cash outflow
0.00 Interest payment bank loan
44,500 loan* 7.5% annual interest/ 2 half years
Interest payment subordinated loan
30,000 loan* 5% annual interest/ 2 half years
Interest payment revolving credit
Wages
Promotion costs*
Insurance costs
Printing costs*
VAT difference quarter 2
VAT received (2,169,440- 2,169,440/1.175)VAT paid (714,950-714,950/1.175)
0.00
1,668.75
750.00
63.75
15,000.00
4,700.00
705,000.00
10,000.00
625.00
2,250.00
1,250.00
500.00
60,000.00
216,626.17
1,018,433.67
Cashflow statement quarter 4/12

Cash inflow
Payment of business market trips*
1 ship* 26 weeks* 3 days* 20 people*80* 80% occupancy rate
VAT difference quarter 3
VAT paid (783,700- 783,700/ 1,17.5)- VAT received (0)
Cash outflow
99,840.00 Redemption payment bank loan
44.500/ 8 years
116,721.28 Redemption payment subordinated loan
30,000/ 10 years
Interest payment revolving credit
Wages
Promotion costs*
49,350 total costs-10,000 costs paid beforehand
Insurance costs
Printing costs*
80,000 total costs-60,000 costs paid beforehand
216,561.28
5,562.50
3,000.00
63.75
15,000.00
4,700.00
705,000.00
39,350.00
625.00
2,250.00
1,250.00
500.00
20,000.00
797,301.25
Cash flow statement total 2012

Cash inflow
Quarter 1/12
Quarter 2/12
Quarter 3/12
Quarter 4/12
Positive Difference:
954,720.00
2,169,440.00
0.00
216,561.28
3,340,721.28
24,951.01
Cash outflow
Quarter 1/12
Quarter 2/12
Quarter 3/12
Quarter 4/12
729,325.00
770,710.35
1,018,433.67
797,301.25
3,315,770.27
Balance sheet 31/12/12

Debit
Computer and computer equipment
Book value- ((BV 13,000-RV 400)/4 years economic lifetime)
Communication equipment
BV- ((BV 3,000- RV 700)/5 years economic lifetime)
Video and TV
BV- ((BV 3,500- RV 0)/6 years economic lifetime)
Inventory
BV-((BV 20,000- RV 2,000)/8 years economic lifetime)
Ship inventory
BV-((BV 65,000- RV 0)/3 years economic lifetime)
Bank account
Bank account 1/1/12 (23,000)+cashflow 2012 (+24,951.01)
VAT receivable
VAT paid (773,050-773,050/1.175)VAT received (216,561.28- 216,561.28/1,175)
9,850.00
2,540.00
2,916.67
17,750.00
43,333.33
47,951.01
82,881.30
207,222.31

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Task 18

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Opening balance sheet 1.1.

Profit and loss account, quarter 1/12

21,242.55 total costs

Profit and loss account, quarter 2/12

791,285.10 total costs

Profit and loss account, quarter 3/12

1,846,331.92 total costs

Profit and loss account, quarter 4/12

Profit and loss statement overview 2012

Total Profit before tax:

Cash flow statement quarter 1/12

Cash flow statement quarter 2/12

Cash flow statement quarter 3/12

Cashflow statement quarter 4/12

Cash flow statement total 2012

Balance sheet 31/12/12

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