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Skrt & Vert Organizational Structure

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Skrt & Vert
Skrt & Vert is a car service company specializing in replacing and upgrading car parts. Skrt & Vert’s main goal is to fulfill the customers vehicle’s needs and desires. I want to own an auto business because I like cars and I always have. I plan to stay in business for as long as possible to provide car service for the public. Skrt & Vert will stay in business by beating other competitive businesses and providing a superior vehicle service.
Skrt and Vert is a sole proprietorship. I chose this form of organization because I think I will like it the most. I think I will like it the most because it would be a learning experience. I don’t have any experience with this type of organization and I don’t know anybody that does. It would be a learning experience for me and everyone part of my business. Everyone would be doing a little bit of everything or what they are the best at.
Skrt & Vert will be located in Sioux Fall, SD. Some materials I will need are paint, rims, tires, window tinting equipment, and car parts. The cost of these materials is estimated at around 10,000 dollars. The regulations and licenses that are required are Federal Tax Registration, Sales Tax Permit, Business License, Employee Staffing License, and Vehicle Repair/Service License. I see my business making a lot of profit in one year. …show more content…

I will be paying 10 percent of it and take out a loan for the rest of it. I will have to pay 2,000 dollars out of pocket. I will be using a collateral loan. I plan on paying the loan monthly until it is paid off. I will need to borrow 18,000 dollars from a lender. I will be having employees and will be paying them an appropriate amount of money. I would repay the loan in 18 months by paying 1,000 dollars every month. If my plan fails I will try harder. I will be using mainly accrual accounting because it is easier for larger amounts of money and it is more accurate. I would have business

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10 = Number of periods 2%= Interest rate per period 1. 21899= The corresponding value 1.21899 x 150,000 = 182,848.50= multiply The loan Future Value is: 182,848.50; Rounded: 182,849 Principal: 150,000 Rate: 4% divided by 2=2% Number of periods: 2x5= 10 150,000 (1 + .002) ^ 10 = 153027.145 or 153027.15 Rounded 153,027.15 – 150,000= 3,027.15 I=PRT= $200,000 x .006 x 28 = $33,600 236,468.44 - 200,000 =36,46 200,000divided by100

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