S&J Catering is a small catering business operating in Western Sydney. Business partners, Jack and Simon, established the business a year ago. To start up the business, the partners contributed $ each. Simon is employed fulltime as a chef and Jack manages the business. Simon and Jack have a written agreement that states that they will share profits or losses equally.

Income

Fees received                                  $

Capital contributed by partners  $

Expenses

Food supplies                                 $

Salary and wages Jack                  $

Superannuation                             $

Equipment maintenance              $

Casual contractor payments       $

Office supplies                               $