Tasc 6- Samplach - Fiontraithe le Gaeilge - business enterpreneurship studies through irish.

Tasc 6 - Samplach


Ceacht Prepare a 2 Year projected Profit & Loss account (years ended 31 December, 2007, 2008 based on the information below. Turnover / sales in Year 1 will be €75,000. Purchases €20,000 in the first year - closing stock €3,000 at end of year 1 (31 December, 2007) Expenses / overheads in year 1 will amount to the following:
	€
Light & Heat	750
Telephone	50 per month
Stationery & Postage	765
Miscellaneous	1,350
Accountancy	3,000
Bank Interest & Charges	3,150
Advertising	1,500
Insurance	2,250
Motor & Travel Costs	2,500
Equipment purchased at start of year 1 at a cost of €20,000. Estimated useful economic life of the equipment is 4 years. Equipment is to be depreciated on a Straight Line Basis.
Year 2 Increase Sales by 10% on year 1 (i.e. Sales in year 2 are 10% greater than Sales in Year 1) Increase Purchases by 10%. Closing Stock at end of year 2 is €4,000 All overheads to be increased by 10% except Accountancy which will increase by 20%.
Recommended Reading:	Micheal MacGiolla Easpaig Lecture Notes Selected Chapters of Recommended Texts

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