Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Explain whether or not the following are, or can be, stakeholders of Anna & Akwasi Tutorial Partnership: (i) NatWest Bank, (ii) Trade Unions, (iii) Management,

  1. Explain whether or not the following are, or can be, stakeholders of Anna & Akwasi Tutorial Partnership: (i) NatWest Bank, (ii) Trade Unions, (iii) Management, and (iv) Parents of students of Anna & Akwasi Tutorial Partnership. Give reasons. . (12 marks)
  2. Explain the need and use of financial information for each of the stakeholders, where applicable. Give examples of specific financial information they may need to support your answer in each stakeholders case, where applicable, and explain the usefulness of the specific information so indicated. Examples of financial information include, but not limited to, income statements, statements of financial position, cash budgets and breakeven analysis. (16 marks)image text in transcribed
Appendix A: Financial Transactions of Anna & Akwasi Tutorial Partnership Anna & Akwasi Tutorial Partnership started business on 15 May 2020 to provide premium support classes to international students in the UK using online tools. The following are some of the transactions that occurred during the month of May 2020. Transaction Date (May 2020) 1 14 2 3rd The partners, Anna and Akwasi, contributed capital to the tune of 50,000 which was deposited in a bank account they had opened with NatWest Bank, Aberdeen branch Anna & Akwasi Tutorial Partnership signed an agreement with Zoom Limited to use their technology to engage with their clients online. They paid f17,500 in deposit, They rented an office space and paid 1,000 by cheque. They purchased computer equipment totalling f8,000, paying half by cheque. They were allowed the remaining halt on credit. They accepted a bank loan of 12,000, which was credited to their account on the same day. Their revenue consisted of course fees paid by students. An amount of 30,000 was received through international transters into their bank account. They paid wages to their support tutors, amounting to 14,000. Stationery and other general expenses paid amounted to 5,800 They invested in short-term securities and paid by cheque, 60,000 Anna and Akwasi withdrew 4,000 each from the bank account for their personal use. 10th 10 17 25" 30+

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Knowledge Audit A Complete Guide

Authors: The Art Of Service - Knowledge Audit Publishing

2021 Edition

1867424010, 978-1867424017

More Books

Students also viewed these Accounting questions