Instructions
Greg runs his own garden and house maintenance service business. Calculate the profit or loss made in 2015.
Answer the question based on the completed profit and loss account and then print out.
Information 1
His total sales revenue for the year was £55,350.
Information 2
He started the year with opening stock worth £10,000.
Information 3
He purchased stock throughout the year totalling £14,000.
Information 4
He had £9,000 worth of stock left at the close of the year.
Information 5
His expenses included wages to his part time employee of £10,000.
Information 6
His motor expenses total £3,250.
Information 7
Insurance costs £250.
Information 8
Telephone and internet is £120.
Information 9
Fuel for equipment is £200.
Information 10
Payment to his accountant is £700.
Information 11
Advertising £450.
Information 12
Depreciation of his van and equipment £500.
Information 13
He rents a garage from a neighbour to store his equipment and this costs £2000 per annum.
Question 1
Increase sales so that they have 100% occupancy throughout all nine months – this will give a sales figure of £6500 for every month.
Question 2
Increase wages to £1200 to cope with the 100% occupancy rate
Question 3
Change stock every month so it is 20% of the sales figure per month.
Question 4
Increase overheads to £600 per month.
Tips
Answer the question based on the completed profit and loss account and then print out.