Lecture notes
Btec business level 3 Unit 2 P5
- Module
- Unit 2 - Working in business
- Institution
- OCR
this is Btec business level 3 Unit 2 P5 and help you achieve P5 of unit 2, Please do not copy
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By: degreesofnerd • 3 year ago
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Business level 3 Unit 2: P5Income statements and balance sheets
Wansbeck Motors Ltd
Trading and Profit and Loss Accounts 31 December
2006 2007
Sales 700 800
Less Cost of Sales 450 600
Gross Profit 250 200
Less Expenses
Wages 60 65
Rent and Rates 15 16
Light and Heat 10 11
Advertising 6 5
Insurances 9 10
Directors’ Salaries 25 27
Sundry Expenses 5 6
130 140
Net Profit 120 60
Wansbeck Motors Ltd
Balance Sheets as at 31st December (000s)
2006 2007
Fixed Assets 110 115
Current Assets
Stock 120 125
Debtors 45 50
Bank Balance 20
185 175
Current Liabilities
Creditors 90 100
Bank Overdraft 10
90 110
Net Current Assets 95 65
205 180
Less Long-term Liability – Bank Loan 50 60
155 120
Financed by
Share Capital 50 50
Retained Profits 105 70
155 120
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