accountng quiz

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Business Finance

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Accounting exer 1. (a) What is the purpose of a Statement of Financial Position? (b) Suggest an alternative name(s) for a Statement of Financial Position. (a) Why is it essential that the business name and date are included in the Statement of Financial Position heading? 2. Prepare a Statement of Financial Position from the information given below about the business of Phil Collins at 31st May this year. The amount of his capital has been omitted so you will need to calculate and include it. Freehold land and buildings Trade payables Inventory of merchandise and materials Amount owing for telephone account Receivables Bank balance (positive – i.e. not overdrawn) Furniture and equipment Capital RM 60,000 34,000 46,200 600 9,000 7,400 12,000 ? On the basis of the Statement of Financial Position figures, what do you think is the main problem facing the business?
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Running Head: BUSINESS PROJECT

Business question
Student’s Name
Institution of Affiliation
Date

BUSINESS PROJECT

ADVANCED BUSINESS LOGISITCS
1. Introduction.

Problem Area
Initiative

2. Details of the Plan

BUSINESS PROJECT

3. Feasibility of plan

4. Magnitude of Impact

5 Conclusion, Uniqueness

6. References

Introduction

Problem Area

In most metropolitan malls we have humongous amount of glossy advertisements on virgin
paper in the form of pamphlets. Despite the large costs being incurred to the business, the
purpose is not served due to disposal without reading it. Added to it, the non-recyclable inks used
are detrimental to environment.

Implications on the environment –

BUSINESS PROJECT

Direct impact will be on deforestation.

Hazardous to sustainable practices – recycling.

Incre...


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