prepare for the whole year cash budget budgeted income statement and budgeted balanc 268617

Accounting in Business (Accounting Financial & Management) Submitting your Assignment 1. Assignments should be typed, 10 or 11 point font size (Times Roman or similar if possible) double spaced with a 4 cm margin on the right side of the page with the page size specified as UK A4. All pages must be numbered. 2. use MS Office 2003/2007, therefore any submission from a newer system should be saved using an appropriate format. Assignment Part A: Gorton Gardens (40 marks) Gloria Greene has worked for several years for a regional chain of garden centres, starting as one of the gardeners and rising to branch manager. She has now decided to re locate to her home town and set up her own business trading under the name of Gorton Gardens Ltd (‘GG’). She is preparing a business plan that she can take to banks and venture capitalists to seek finance and which will also help to guide her in the process of setting up and starting up the business, and has asked you for your help with the financial part of this (i.e. a budget). As a starting basis, she has put together some initial forecasts and estimates which are outlined below. The business will consist of a large garden with greenhouses, nurseries, etc. and an attached shop. This shop will sell part of the output from the garden. She plans to sell the rest to 2 different groups of business customers: (i) businesses with offices and reception areas which they wish to keep decorated with office plants and flowers under ongoing contracts; (ii) hospitality and similar businesses which will wish to buy plants and flowers for corporate entertainment events, weddings, etc. She is planning and forecasting: ?shop ?office plants ?hospitality businesses ??Selling price per product* ?£3.00 ?£2.00 ?£2.50 ??Credit terms ?no credit (cash sales only) ?1 month ?2 months ??Proportion of total sales ?25% ?40% ?35% ?? * NB: in reality, businesses like garden centres will…