Question

Can you create a sample projected income statement for a bookkeeping business.

Here are the startup costs.

Computer	$500
Internet Expense	$100
Office Supplies	$100
Office Equipment	$500
Training Expense	$177
Prepaid Insurance	$200
Business License Expense	$70
Software	$300
Intangible Asset-Domain Name	$50
Communication Expense	$50
Furniture and Fixtures	$200
Advertising Expense	$20
Total	$2,267

Answer 1

Answer :

Sample projected income statement for a bookkeeping business are as follows :

Particulars	Amount (in $)
Revenue :
Service revenue	-
Expenses :
Internet Expense	$100
Training Expense	$177
Business License Expense	$70
Communication Expense	$50
Advertising Expense	$20
Net Income	($417)

Note :

1. It's not specifically mention that Office supplies are expense, so it's assume to be current asset and included in income statement.

2. Items not included in income statement are assets.