Prepare a projected monthly departmental budget for the first 3 months of operation of the...
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Accounting
Prepare a projected monthly departmental budget for the first 3 months of operation of the mobile food truck. You will set up two (2) departments Food and Drinks - showing your projected revenue, cost of goods sold and expenses. In an attached schedule, calculations of how each months revenue was derived will be shown, along with calculations of depreciation of non-current assets and the method used to calculate depreciation. A schedule identifying the businesss fixed costs will also be prepared.
Create a Chart of Accounts and open T accounts for the projected revenues, purchases of materials and expenses. Balance the T Accounts at the end of the 3 months. 10 MARKS
Prepare a Projected Unadjusted Trial Balance as at December 31st2021. 5 MARKS
Prepare any projected adjusting entries needed at the end of December 31st2021
(including Depreciation and Ending Inventory) - 10 MARKS
Prepare a Projected Adjusted Trial Balance as at December 31st2021. 5 MARKS
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