Respuesta :
Running your own lawn care business can be a great way to earn money over the summer while you're on break from college. It can also be a way to supplement your existing income to save money for retirement or a college fund. However, managing the costs of the business will be essential for it to be a profitable company. In this exercise, you will create a simple financial plan for a lawn care business using the skills covered in this chapter.
There are two worksheets in the workbook that you will be using.
Annual Plan – Provides calculations to determine how much money the lawn care business generates in a year, based on the average price per lawn cut and the number of cuts per year, as well as expenses for the year.
Equipment Loans: Calculate monthly payments on various lawn care equipment loans.
Annual Plan Worksheet
Open the PR2 Data file and then Save As PR2 Lawn Care.
Switch to the Annual Plan worksheet if necessary.
Enter the following data in cells B14, B15, and B16:
Gas cost (per cut) = $10
Number of customers = 30
Annual grass cuts per customer = 20
In cell B3, enter the average price per lawn cut of $50.
In cell B4, type a formula that calculates the total number of grass cuts for the year. This is the number of customers multiplied by the annual grass cuts per customer.
In cell B5, type a formula that calculates total annual sales. This is found by multiplying the average price per turf by the total number of turf cuts.
In cell B8, type a formula to calculate the total cost of gasoline for the year. This is found by multiplying the gas cost per cut by the total number of lawns cut.
You will finish the rest of this worksheet after completing the Equipment Loans worksheet.
Equipment Loans Worksheet
Switch to the Equipment Loans worksheet.
In cell E3, write a PMT function to calculate the monthly payment for the commercial lawn mower. Don't forget the negative sign between the equals sign and the PMT! Remember to convert interest rate and years to monthly installments and use cell references. The arguments of the PAYMENT function must be the following:
RATE: B3/12
NPER: C3*12
VP: D3
Copy the function PAY from cell E3 to the other items in the team.
In cell E10, use the SUM function to calculate the total monthly loan payments. Make sure that the blank rows (7 through 9) were included in the range of the SUM function so that you can add more pieces of equipment later if necessary.
In cell E11, type a formula that calculates the total annual payments on the loan. This will be the monthly total multiplied by 12 (the number of months in a year).
If necessary, apply the GL format to all monetary values so that the placement of the dollar sign is consistent throughout the worksheet.
Sort the data in the range A3:E6 first by Interest Rate and then by Loan Amount using the following steps:
Select the range A3:E6.
Click the Sort button on the Data tab of the ribbon.
In the Sort dialog, select the Interest Rate option from the "Sort by" drop-down box. Select Largest to Smallest for the sort order.
Click the Add Level button in the Sort dialog.
Select the Loan Amount option from the "Then By" drop-down box. Select Largest to Smallest for the sort order.
Click the OK button on the Sort dialog.
Add a header with the date on the left and the worksheet name on the right. Be sure to insert the date and worksheet name so they update automatically.
Check the Print Preview and make any other changes needed for a professional print.
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