80.2K

Verified Solution

Link Copied!

BTEC Level 3 Unit 3: Business finance Assignment Title: Investigate, plan, improve! Part Two: Analysis of performance, conclusions, and recommendations Task 2a The BSB Uniform Shop has taken over the management of Leisure Caf in the administration building. The manager wants you to prepare a Statement of Comprehensive Income and a Statement of Financial Position for the business year ended March 31t, 2022. Before you make decisions you must understand these terms. Sales Revenue or Turnover Cost of Sales Gross profit Expenses Net profit Summarise the purpose of a balance sheet. Explain the difference between 'non-current' and 'current' assets Use the information and the steps below to construct a Statement of Comprehensive Income for The Leisure Caf. Sales revenue: Coffee sales 124,000 Costs Coffee purchases Dessert purchases 27,000 37800 Dessert sales 17,000 5,375 Water sales 1000 17,200 5,000 2,500 Inventory supplies: Cups, boxes, straws Wages and salaries Gas and electric Telephone and internet Promotional leaflets Fuel and van costs rent Business Fee & Licenses 1,000 500 1500 550 Use the information below to adjust the figures before you calculate your net profit before taxation: 1. Depreciation is charged on the motor van at a rate of 10% using the straight-line method. The cost of the motor van is 16,000 and it has a resale value of 4000 and had been used in the business for 4 years. 2. Rent has been prepaid for a year by 750 and needs to be adjusted. 3. The coffee shop has owed their gas and electric bills of 500 which needs to be paid. 4. The government has increased business rates taxes by 15% this year. BTEC Level 3 Business Unit 3

Answer & Explanation Solved by verified expert

See Answer