Task 5) Rafael Ron trades as Goal Company. He buys and sells professional soccer balls. For the April of 2017, the follo

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Task 5 Rafael Ron Trades As Goal Company He Buys And Sells Professional Soccer Balls For The April Of 2017 The Follo 1 (30.8 KiB) Viewed 39 times

Task 5) Rafael Ron trades as Goal Company. He buys and sells professional soccer balls. For the April of 2017, the following details of his business are available: at of • Opening inventory of balls (on 1st April 2017): 150 pieces at a total cost of £1,200 . Purchased in April: 180 pieces of balls at £7.5 each • During April he sold 190 pieces for £17 each (£3,230 in total) Closing stock is valued at £7.5 per piece Rent for the storehouse is paid in advance: the fee is £420 every 6 months. His assistant, Amy, receives £200 every 4 months Postage costs were £1500 every 4 months... • On 10th of May the Goal Company received the £800 invoice of the firm's marketing advisor in connection with services provided in April. Show your calculations and answer the following questions 5.1) Prepare an income Statement for Rafael Ron's business for the month of April 2017. 5.2) Due to Covid, the management of the company decided to improve/increase profitability of the company. As a financial adviser what business transactions would you recommend to the management and how this would affect the company.