Rafael Ron trades as Goal Company. He buys and sells professional soccer balls. For the April of 2017, the following det
Posted: Sun Jun 05, 2022 7:17 am
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: 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 4 months. His assistant, Amy, receives £200 every 2
months Postage costs were £1500 every 6 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.
professional soccer balls. For the April of 2017, the following
details of his business are available: 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 4 months. His assistant, Amy, receives £200 every 2
months Postage costs were £1500 every 6 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.