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Old 05-11-2003, 07:05 PM   #1 (permalink)
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Location: Iowa City
Ideas for my business homework.

I need to do a balance sheet for my business and need some ideas for what kinds of expenses my mock business would have. The business sells baby products like cribs, clothes, etc.. I'm just at a loss for all the expenses a business would have. This is what I got so far...
- Cost of merchandise
- Property tax
- Furnishings
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Old 05-12-2003, 12:24 PM   #2 (permalink)
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Location: NYC
Re: Ideas for my business homework.

Quote:
Originally posted by Jeff
I need to do a balance sheet for my business and need some ideas for what kinds of expenses my mock business would have. The business sells baby products like cribs, clothes, etc.. I'm just at a loss for all the expenses a business would have. This is what I got so far...
- Cost of merchandise
- Property tax
- Furnishings
How about an accountant?

Seriously, though, you're going to have to pay staff, property upkeep, probably security unless you plan to locate in the middle of nowhere; you'll have to pay taxes on your staff, if you're buying property (and the "property tax" you've included suggests you are) you're going to be paying interest on the loan, unless you're rich. You have your phones, your internet, your fax, probably vehicle costs. You'll probably be paying advertising, which can take a lot of forms, as well as business bureau membership, possible parking costs (for the lot), customization of property, signs, etc. If you incorporate you'll have lawyer fees etc to slog through, though that does limit your personal liability should one of your fictional cribs strangle a fictional baby.

Bob
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Old 05-12-2003, 01:02 PM   #3 (permalink)
Upright
 
Location: Wisconsin
don't forget insurance! Worker's Comp for your employees...Liability insurance for your products...genelral business insurance against fires, tornados, etc...
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Old 05-12-2003, 01:28 PM   #4 (permalink)
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