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Unit 5 - Business Accounting - P4

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UNIT 5 - BUSINESS ACCOUNTING
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P4 - prepare a profit and loss account and balance sheet for a given organisation

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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

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Study
Business
Uploaded on
February 25, 2016
Number of pages
2
Written in
2014/2015
Type
Essay
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Unknown
Grade
P
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