2.1 Company Ownership
Workchairs is a private C corporation owned by Jake and Lisa Wilson. They each own 50% of the company.
2.2 Start-up Summary
WorkChairs will require total start-up expenses which include legal fees in setting up the business, stationery, sales brochures and collateral, insurance, expensed computer equipment, and a domain name.
Jake and Lisa Wilson will be providing the investment which will cover the start-up expenses while also leaving a cash reserve. We have no start-up liabilities to be considered in our start-up phase. We will purchase examples of our products, as Current Assets, for customers to test-sit, but we will have very little inventory on hand.
|Total Start-up Expenses||$3,825|
|Other Current Assets||$2,000|
|Start-up Expenses to Fund||$3,825|
|Start-up Assets to Fund||$8,175|
|Total Funding Required||$12,000|
|Non-cash Assets from Start-up||$2,000|
|Cash Requirements from Start-up||$6,175|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$6,175|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Jake and Lisa Wilson||$12,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$12,000|
|Loss at Start-up (Start-up Expenses)||($3,825)|
|Total Capital and Liabilities||$8,175|