Solution-Write a memo to towry out-lining your suggestions

Write a memo to towry out-lining your suggestions

Reference no: EM131093870

Case: Donna Tse has recently accepted the position of assistant manager at Cycle World, a bicycle store in St. Louis. She has just finished her accounting courses. Cycle World's manager and owner, Jeff Towry, asks Tse to prepare a budgeted income statement for 2011 based on the information he has collected. Tse's budget follows:

CYCLE WORLD Budgeted Income Statement For the Year Ending July 31, 2011
Sales revenue		5244,000
Cant of goods sold		177,000
Gross profit		67,000
Operating expenses:
Salary and commission expense	46,000
Rent expense	8.000
Depreciation expense	2,000
Insurance expense	800
Miscellaneous expenses	12,000	68,800
Operating DOSS		(1,800)
Interest expense		1225)
Net loss		$ (2,025)

Requirement

1. Ise does not want to give Towry this budget without making constructive suggestions for steps Towry could take to improve expected performance. Write a memo to Towry out-lining your suggestions.

Reference no: EM131093870

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Write a memo to towry out-lining your suggestions

Reference no: EM131093870

Reference no: EM131093870

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