Installment Buying and Creating and Maintain A Budget Assignment Help

Installment Buying and Creating and Maintain A Budget Assignment Help

1. 1

Installment Buying:

Businesses need assets. Sometimes those assets can be purchased with cash on hand. Other times financing is needed or preferred.

Post 1: Initial Response

Congratulations! You own your own business. Your business is looking to finance an asset. Find one or more pieces of office equipment online (computers, printers, desks, chairs etc.) with a total price of at least $10,000. Include the URL to the item(s) you are purchasing in your post. Choose a down payment percentage between 5% and 20%. State the percentage amount you chose and calculate the down payment amount. Then calculate the amount financed. Ignore tax and shipping for the purposes of this discussion. Show all steps used in your calculations.

Describe your business in your post. Using several sentences, discuss how your chosen asset will be used in your business and whether financing the asset is in the best interest of your business.

1. 2

Markups and Markdowns:

How is your business going to price its goods? As a business owner, you must decide how you will markup items that you sell. If that does not work out, you may need to make the tough decision to markdown your goods.

Post 1: Initial Response

Your business is off to a good start and you are ready to sell some goods. You must decide on your pricing strategy. Choose an item your business will sell and find the selling price of that item online from a competitor’s website. Describe the item and include the URL to the item you are selling in your post. Use an internet search engine to find the average markup percentage on this type of item. For example, search the average markup on lawn mowers. State what percentage you found. Use that markup percentage to calculate the cost and dollar markup of the item. Show all calculations.

How satisfied are you with your markup? Using several sentences discuss what markup strategy you intend to use. Will you stick with the average industry markup or go with something else? Will you calculate all your markups by hand or use a different strategy to calculate?

1. 3

Payroll:

Congratulations! You have completed your degree and are now ready to pound the pavement in search of your dream job.

Post 1: Initial Response

Use an internet job board to find a posting for the position you hope to get once you have completed your degree. Find a posting that includes the salary. Include the URL to the position in your post.

Next, open a blank Excel spreadsheet. Take the salary from your job posting and use Excel formulas to calculate your weekly, biweekly, semimonthly, and monthly gross pay. Watch this video to show you how to do this. Include the Excel spreadsheet in your post.

Using several sentences, describe your future job, what salary you found, and the results of your calculations.

Link to video:

MM255 Unit 3 Discussion Board – YouTube

1. 4

Budgeting:

Local governments in the U.S. have a profound impact on the daily lives of its residents as they provide many of the services that touch the lives of every person living in the area. A few examples include clean water to drink or sidewalks to walk a dog on in the morning. To provide those services, they have to create and maintain a budget.

Post 1: Initial Response

As a prominent business owner in your city, you have been chosen to be on the local city council. It is your duty to review the mayor’s proposed budget for the year and approve it. As a member of the council, you are tasked with listing three revenue sources and three expense items listed on the mayor’s budget so the council may consider them.

Use an internet search engine to find the most current year’s budget for your city government that you can find. Include the URL. State three revenue sources and their respective budgeted dollar amounts. Then state three expense items and their respective budgeted amounts. Calculate the percentage of the total revenue/expense for each of your chosen revenue/expense sources by calculating: item revenue/total revenue and item expense/total expenses. Using several sentences, discuss with your fellow council members what these six items are and why we need them.

1. 5

Interest:

Businesses need to purchase equipment, whether it is computers to run their online platforms or backhoes to dig out the foundations on new houses. They may choose to buy it now and take out a loan that would cost them interest or they could put aside money today and earn enough interest on their investment to be able to purchase the equipment in the future.

Post 1: Initial Response

You have set a goal for your business to purchase three pieces of equipment. Find three pieces of equipment for sale online that will help your business work more efficiently or effectively. Include the URLs. Prioritize the three pieces of equipment that you have chosen in the order you think you need them and the urgency in which you need them.

Save for the equipment. Select between 5–10 years to save to purchase each piece of equipment. In order to have the money saved for your first priority piece of equipment sooner, choose the shortest number of years for the #1 piece of equipment and the longest number of years for the #3 piece of equipment. Choose an interest rate between 2–10% for each piece of equipment.

Next, open a blank Excel spreadsheet and type in the purchase price of the equipment you have chosen. Use Excel PV formula to calculate what you put in today to buy equipment in the future. Watch this video to show you how to do this. Include the Excel spreadsheet in your post.

Using several sentences, describe the equipment and how it will help your business. Include in your post the number of years and interest rate you have chosen as well as the results Excel gave you.

Link to video

MM255 Unit 5 Discussion Board – YouTube

 

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