• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

GCSE Business Studies Coursework - Balance sheet, Profit/Loss Account.

Extracts from this document...

Introduction

GCSE Business Studies Coursework Task one: Balance: Balance Sheet Cash: Both Bank: Both Capital: Profit/Loss Account Motor Vehicle: Both Equipment: Profit/Loss Account Debtors: Both Creditors: Both Drawings: Both Stationary: Profit/Loss Account Telephone: Both Electricity: Both Delivery: Both Rent: Balance Sheet Closing Stock: Both Sales: Balance Sheet Opening Stock: Both Cost of Goods Sold: Profit/Loss Account Gross Profit: Profit/Loss Account Task two: Profit/Loss Account for quarter ending 31/08/03 � � Turnover 4600 Less Cost Of Sales 2350 Gross Profit 2250 Less Expenses Stationary 125 Telephone 130 Electricity 135 Delivery 500 Rent 600 1490 Net Profit 760 Task 3 Balance Sheet for the quarter ending 31/08/03 � � Fixed Assets Motor Vehicle 6,500 Equipment 5,600 12,100 Current Assets Stocks 1,500 Debtors 1,050 Bank 333 Cash 110 2,993 Less Current Liabilities Creditors 883 Working Capital 2,978 Net Assets 15,078 Financed By Opening Capital 13,800 Plus Net Profit 760 14,560 Less Drawings 350 14,210 Task four: Gross Profit is sales turnover minus cost of sales. Net Profit is gross profit minus costs. Fixed Assets are assets to a business that is central to its operation and not traded. ...read more.

Middle

Findings:- I have done research into loans as I have outlined under Procedure and found out the following of what Natwest has to offer: Different periods of repayment; they say that they will be able to help Raph�l choose a repayment period most suitable for his business: this might be 6 months, or 5 years. The Interest rates; the rates can be fixed at the outset, for the term of the loan, or can be variable, in which case they will move in line with fluctuations in Base Rate. The option of having a Payment holiday of up to three years, they may be able to offer a repayment holiday for up to 3 years, when Raph�l's will only need to pay interest on the loan. They offer Optional loan insurance, they say that Business Loan Protector offers peace of mind in the event of accident, sickness or death. The Single Premium Option, available only to sole traders with loans of up to �15,000, offers immediate cover and requires no medical. The Monthly Premium Option offers the same benefits, but covers up to 4 lives and is payable by monthly direct debit. ...read more.

Conclusion

If you need a second vehicle you could take an overdraft from the bank. Overdrafts can be more expensive particularly for small businesses. You have unlimited liability which means if you do not pay back you're bills your personal possessions are at risk You could also think of having a partner so that you won't have to pay all the bills by yourself you could have financial support. Or you could have a sleeping partner who just invests in the business, a disadvantage to this though is that you would have to give the partner a share of you're profit if you make a profit. Raphael could let other business' borrow his van for money which could contribute to buying a second van, this would save him taking out a loan from the bank. Reccomendations:- Here are two recommendations: 1. I think that a new partner would be a good idea because it would improve the finance of the business, which could mean the business could buy a second vehicle due to more profit. 2. I think you should have limited liability because your personal possessions are at risk, it would only cost �40. GCSE Business Studies Coursework: Raphael's June 2003 Zetta Hayden 10FL ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. Btec National Business Level 3 Year 1 - Exploring Business Activity

    the call centre to do for it and will establish minimum standards for the call centre to meet. The centres have many duties handling the work on behalf of the company and also handling consumer complaints to selling products. * Administration: The administration is also outsourced.

  2. The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

    Culture caf� need to think about how they affect the local community. They work hard to bring good into the area, such as employment, staff training and helping the local council with their events. Anything the local council does in the community can affect them, for example if the council

  1. Explain the purpose of keeping accurate financial records.

    Whoever owns one or more of these is called a share holder. A public Limited Company (PLC) can sell its shares on the Stock Market, while a Private Limited Company (LTD) cannot. Unlike a sole trader or a partnership, the owners of a Limited Company are not involved in the

  2. Barclays Investigating a Business

    Barclays needs to make sure things run smoothly such as ensuring their staff are helpful, they keep their branches well run and that the quality of service is not compromised. The better they provide for their stakeholders the better the business looks and therefore will increase their popularity for both existing and potential stakeholders.

  1. Introduction to Business Assignment

    In addition, without profit, a business cannot afford to modernise itself, install new and innovated technologies or take commercial risks such as penetrating new markets with regards to their products they manufacture/sell. GE lighting can help to aid to this objective by striving to primarily ensure that they sell more units.

  2. This is a detailed business report on Sainbsurys.

    Every partner tends to be entitled to contribute in management of the business. However, some managers may not wish to contribute and they are therefore known as Sleeping Partners. In the business it is helpful and vital that partners draw up a Deed of Partnership.

  1. Departments and their roles within a business.

    if the business is experiencing a recession the finance department can display financial documents showing that profits are low at this point and cuts will need to be made to advertising, equipment etc. If an employee was asked to work overtime the marketing department would need to check with

  2. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    means of money saving offers which they can benefit from, so when customers use their club card they use points they obtain from items they buy which can turned into vouchers that they can use on purchasing the same/ other products in the future without using money, customers would highly

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work