Task The following Trial Balance was extracted from the books of Yeovil Place as at the close of business on 30th June 2018. Debit Credit £ £ Leasehold Premises 20 000 Furniture & Equipment 8 800 Capital Invested 16 979 Stocks at 01/07/2017 900 Purchases 40 528 Sales 84 436 Creditors 4 000 Wages 12 730 Bank Loan 4 500 Council Tax 1 640 Gas & Electricity 2 444 Debtors 150 Business Expenses 1 456 Cleaning 760 Maintenance 1 000 Advertising and Promotions 2 550 Owners Drawings 11 000 Loan Interest 500 Cash in Hand 890 Bank Balance 4 567 TOTALS 109 915 109 915 Stocks as at 30th June 2018 was £720 Required: Task 1: Using the trial balance information provided, prepare a Profit and Loss Statement of Yeovil Place for the year ended 30th June 2018 and a Balance Sheet as at that date. (40 marks) – Please ensure that you show all your workings to gain full marks. You may use templates provided. Task 2: Comment on the performance of the business using ratio analysis, conduct a Cost and Revenue analysis and advise the company on ways of improving profitability and performance based on the information above and the result from 1 (above). (35 marks) – 1 500words
