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GCSE Business Studies Coursework Task one: Balance: Balance Sheet Cash: Both Bank: Both Capital: Profit/Loss Account Motor Vehicle: Both Equipment: Profit/Loss Account Debtors: Both Creditors: Both Drawings: Both Stationary: Profit/Loss Account Telephone: Both Electricity: Both Delivery: Both Rent: Balance Sheet Closing Stock: Both Sales: Balance Sheet Opening Stock: Both Cost of Goods Sold: Profit/Loss Account Gross Profit: Profit/Loss Account Task two: Profit/Loss Account for quarter ending 31/08/03 £ £ Turnover 4600 Less Cost Of Sales 2350 Gross Profit 2250 Less Expenses Stationary 125 Telephone 130 Electricity 135 Delivery 500 Rent 600 1490 Net Profit 760 Task 3 Balance Sheet for the quarter ending 31/08/03 £ £ Fixed Assets Motor Vehicle 6,500 Equipment 5,600 12,100 Current Assets Stocks 1,500 Debtors 1,050 Bank 333 Cash 110 2,993 Less Current Liabilities Creditors 883 Working Capital 2,978 Net Assets 15,078 Financed By Opening Capital 13,800 Plus Net Profit 760 14,560 Less Drawings 350 14,210 Task four: Gross Profit is sales turnover minus cost of sales. Net Profit is gross profit minus costs. Fixed Assets are assets to a business that is central to its operation and not traded. Current Assets are available cash and other assets that can be converted into cash within a year. Current Liabilities are business liabilities that are due to be cleared before the end of the financial year. Long Term Liabilities are business liabilities that can be cleared at any time. Usually longer than one year. Capital...

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