Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Parts a and b please HouseToHome has four key areas of Non-Current Assets, as shown in the table below. Set up calculations that will calculate

image text in transcribed

Parts a and b please

HouseToHome has four key areas of Non-Current Assets, as shown in the table below. Set up calculations that will calculate the depreciation for the current year for these assets. [15 marks] b) Preparing the Statement of Profit or Loss You are given the following additional information: - Costs of Manufacturing Staff are equal to 12% of the cost of raw materials for each month. - Distribution costs each month are equal to 15% of the Revenue for that month - Administration Expenses in January were 12432. In each subsequent month, these costs increase by 1% compared with those of the previous month. - The Inventory at the start of the year was 82432 . At the end of the year, Inventory was 84081. - There is an outstanding Loan of 500000 , on which interest of 2% a year is due. - Tax is charged at 19% of Net Profit Before Tax. Prepare a table setting out the Revenue, Purchases, Manufacturing Staff Costs, Distribution Costs and Administration Expenses for each month of the year. Prepare the Statement of Profit or Loss for the Year. HouseToHome has four key areas of Non-Current Assets, as shown in the table below. Set up calculations that will calculate the depreciation for the current year for these assets. [15 marks] b) Preparing the Statement of Profit or Loss You are given the following additional information: - Costs of Manufacturing Staff are equal to 12% of the cost of raw materials for each month. - Distribution costs each month are equal to 15% of the Revenue for that month - Administration Expenses in January were 12432. In each subsequent month, these costs increase by 1% compared with those of the previous month. - The Inventory at the start of the year was 82432 . At the end of the year, Inventory was 84081. - There is an outstanding Loan of 500000 , on which interest of 2% a year is due. - Tax is charged at 19% of Net Profit Before Tax. Prepare a table setting out the Revenue, Purchases, Manufacturing Staff Costs, Distribution Costs and Administration Expenses for each month of the year. Prepare the Statement of Profit or Loss for the Year

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

Investing In Fixed Income Securities Understanding The Bond Market

Authors: Gary Strumeyer

1st Edition

0471465127, 9780471465126

More Books

Students also viewed these Finance questions

Question

Use a diagram to explain how the run-length encoding method works.

Answered: 1 week ago