(please solve within 20-30min.) Land and Building development costs700,000Additional development costs50,000Equipment/TV Screens1,500,000Safes1,600Electronic cash register/retail technology system13,000Computer hardware and software15,000Licenses, Permits, Fees, and Deposits8,000Uniforms/Shirts/Pants/Jackets/Shorts/Hats/Nametags2,000Insurance10,000Training courses1,000SBA Loan/Personal Loan/Investors/PPP Loan2,323,600Food Vendors11,000Marketing and Promotion Costs12,000This is a start-up costs sheet for a movietheater. Please conduct an incomestatement for this.

The Following Items will be shown in Income Statement Only : Particulars Amount Food vendors…

Answered: This is a start-up costs sheet for a…

Business

Accounting

This is a start-up costs sheet for a movie theater. Please conduct an income statement for this.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

(please solve within 20-30min.)

Land and Building development costs
700,000
Additional development costs
50,000
Equipment/TV Screens
1,500,000
Safes
1,600
Electronic cash register/retail technology system
13,000
Computer hardware and software
15,000
Licenses, Permits, Fees, and Deposits
8,000
Uniforms/Shirts/Pants/Jackets/Shorts/Hats/Nametags
2,000
Insurance
10,000
Training courses
1,000
SBA Loan/Personal Loan/Investors/PPP Loan
2,323,600
Food Vendors
11,000
Marketing and Promotion Costs
12,000
This is a start-up costs sheet for a movie
theater. Please conduct an income
statement for this.

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