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Task
The following Trial Balance was extracted from the books of Yeovil Place as at the close of business on 30th June 2018.
Debit Credit
£ £
Leasehold Premises 20 000
Furniture & Equipment 8 800
Capital Invested 16 979
Stocks at 01/07/2017 900
Purchases 40 528
Sales 84 436
Creditors 4 000
Wages 12 730
Bank Loan 4 500
Council Tax 1 640
Gas & Electricity 2 444
Debtors 150
Business Expenses 1 456
Cleaning 760
Maintenance 1 000
Advertising and Promotions 2 550
Owners Drawings 11 000
Loan Interest 500
Cash in Hand 890
Bank Balance 4 567
TOTALS 109 915 109 915
Stocks as at 30th June 2018 was £720
Required:
Task 1:
Using the trial balance information provided, prepare a Profit and Loss Statement of Yeovil Place for the year ended 30th June 2018 and a Balance Sheet as at that date. (40 marks) – Please ensure that you show all your workings to gain full marks. You may use templates provided.
Task 2:
Comment on the performance of the business using ratio analysis, conduct a Cost and Revenue analysis and advise the company on ways of improving profitability and performance based on the information above and the result from 1 (above). (35 marks) – 1 500words