Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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: . Opening inventory of balls (on 15 April 2017): 150 pieces at 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 for a quarter year. His assistant, Amy, receives 200 a month; it is always paid on the second workday of the following month. Postage costs were 1500 in total for the whole year. . On 10 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. th

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

Microfinance Handbook An Institutional And Financial Perspective

Authors: Joanna Ledgerwood

1st Edition

0821343068, 978-0821343067

More Books

Students also viewed these Finance questions

Question

How do we come to understand others?

Answered: 1 week ago

Question

socialist egalitarianism which resulted in wage levelling;

Answered: 1 week ago

Question

soyuznye (all-Union, controlling enterprises directly from Moscow);

Answered: 1 week ago