100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
UNIT 5 P4 - prepare a profit and loss account and balance sheet for a given organisation $3.86   Add to cart
Quickly navigate to
Preview
  2.  
  3. Undefined
  4.  
  5. Level 3 BTEC Business Extended Diploma
  6.  
  7. UNIT 4 P4 - prepare a profit and loss account and

Answers

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

 2754 views  2 purchases
  • Course
  • UNIT 4 P4 - prepare a profit and loss account and
  • Institution
  • Undefined

For P4, learners will describe the purpose and use of the trading, profit and loss account and balance sheet. They will also explain how gross profit and net profit are calculated by indicating the kinds of income and expenditure that are included. Learners will be presented with a trading and prof...

[Show more]

Preview 1 out of 1  pages

Document information

  • February 9, 2016
  • 1
  • 2014/2015
  • Answers
  • Unknown

Subjects

  • btec
  • business
  • level 3
  • unit 5
  • extended diploma
  • p4
  • prepare a profit and loss account and balance sheet for a given organisation

Written for

  • Undefined
  • Level 3 BTEC Business Extended Diploma
  • UNIT 4 P4 - prepare a profit and loss account and
All documents for this subject (1)

Seller

avatar-seller
thebestanswers

Reviews received

Content preview

Unit 5 – P4

FOR
TradingNOTES AND
& Profit GUIDLINE
& Loss PURPOSES
acc of J. Patel ONLY, COPYING
for the year THE
ended 31 Dec 2010
WHOLE DOCUMENT WILL£BE COPYWRITE. £
Sales 259,688
USE SENSIBLE.
Cost of sales
Opening stock 14,350
Add purchases 114,472
less closing stock 16,280
112,542
Gross profit 147,146

Less expenses
Salaries and wages 42,614
Rent and rates 13,718
Advertising 6,341
Heating and lighting 12,540
Vehicle expenses 5,817
Total expenses 81,030
Net profit 66,116

Balance sheet of John Adams on 31 Dec
2012
£ £ £
Fixed assets
Premises 75,000
office equipment 33,000
Vehicles 21,500
129,500
Current assets
closing stock 16,280
Debtors 23,854
Cash at bank 1,235
Cash in hand 125
41,494
less Current
liabilities
Creditors 17,281
Value added tax 2,455
19,736
working capital 21,758
151,258
less long term
35,000
liabilities
116,258

Financed by
Opening capital 62,500
Add net profit 66,116
less drawings 12,358
116,258




1

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller thebestanswers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.86. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

70055 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.86  2x  sold
  • (0)
  Add to cart