UNIT 5 Business Accounting P4

Sales £41,730 Fixed Assets

Opening Stock £4,350 Premises £45,000

Purchases £33,850 Shop fittings £5,000

Closing Stock £5,120 Motor Vehicles £3,500

£53,500

Current Assets

Less cost of sales £33,080 Stock £5,120

Debtors
£870

Gross Profit £8,650 Cash £65

Overheads/Expenses £6,055

Rates £1,750 Less liabilities

Heating & lighting £840 Creditors £2,860

Telephone £260 Bank overdraft £2,840
£5,700


£355

General Expenses £795
£53,855

Repairs £220 Less long term liabilities

Net Profit £4, 785 Bank loan £25,000


£28,855

Financed by