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BA4008QA Business Decision Making Assignment Samples

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BA4008QA Business Decision Making Assignment Samples

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1.     Profit and loss statement and Balance sheet:

Trading and P&L account

Particular

 

Amount

Particular

Amount

To opening stock

 

18310

By sales

290500

To purchase

 

157443

By closing stock

25550

To gross profit

 

140297

 

 

 

 

316050

 

316050

To advertisement

 

5478

By gorss profit

140297

To insurance   

9306

 

 

 

Less: prepaid 

-850

8456

 

 

To rent and rates

18612

 

 

 

Less: prepaid

-4482

14130

 

 

To heating & Lighting

11013

 

 

 

Add:

2210

13223

 

 

To delivery cost

10132

 

 

 

Add:

905

11037

 

 

To salary & wages

 

41263

 

 

To depreciation

12584

 

 

 

Add: current year

10440

23024

 

 

Net profit

 

23686

 

 

 

 

140297

 

140297

(Teubner, 2012)

 

 

 

Balance sheet

 

 

 

Liabilities

Amount

Amount

Assets

 

Amount

Capital

170600

 

Furniture

153227

 

Add: Profit

23686

 

less: Depreciation

-66710

 

less: drawings

-31288

162998

less: Current year

-12584

73933

Trade payable

 

31511

Motor vehicle

182600

 

Outstanding Expenses

 

3115

less: Depreciation

-93500

 

Bank overdraft

 

17900

less: Current year

-10440

78660

 

 

 

Closing stock

 

25550

 

 

 

Trade receivables

 

31099

 

 

 

Prepaid

 

5332

 

 

 

cash in hand

 

950

Total

 

215524

Total

 

215524

2.     Limitations of P&L and balance sheet:

P&L limitation:

  • Accounting principle: According to the accounting principle the p&l revenue should be matched with the expenses but it is difficult to match.
  • Fiscal Calendars: Companies compare the profit and loss accounts with other companies so that follow the fiscal calendar is difficult.
  • It explains only profit situation not valuate the assets and liabilities of the company(Teubner, 2012).

Balance sheet limitation:

  • Balance sheet prepared by the historical number basis.
  • It work on the estimates.
  • In the balance sheet Non- monetary assets are also included (Wouters et al, 2013).

Reference:

Teubner, G., (2012). Concepts, aspects, limits, solutions. Juridification of Social Spheres: A Comparative Analysis in the Areas ob Labor, Corporate, Antitrust and Social Welfare Law6, p.3.

Wouters, B., Bamber, J.L., Van den Broeke, M.R., Lenaerts, J.T.M. and Sasgen, I., (2013). Limits in detecting acceleration of ice sheet mass loss due to climate variability. Nature 

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