Balance Sheet Assets Q2 Q1 Current assets Cash on hand Cheque account 100,000 Payroll cheque account...

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Balance Sheet Assets Q2 Q1 Current assets Cash on hand Cheque account 100,000 Payroll cheque account 7,000 80,000 7,000 Cash drawer 650 600 Petty cash 380 350 Undeposited funds 780 700 Electronic clearing account 4,995 4,000 Total cash on hand 113,805 92,650 Total current assets 113,805 92,650 Proterty, plant and equipment Kitchen equipment Kitchen equipment at cost 70,000 60,000 Total kitchen equipment 70,000 60,000 Office equipment Office equipment at cost 30,000 30,000 Total property, plant and equipment 100,000 90,000 Total Assets 213,805 182,650 Liabilities Long-term liabilities Bank loans 15,000 20,000 Total long-term liabilities 15,000 20,000 Total liabilities 15,000 20,000 Net assets 198,805 162,650 Equity Retained earnings Current earnings Total Equity 35,392 30,500 60,392 35,392 95,784 65,892 Profit and Loss Income Food sales Beverage sales Catering fees Total Income Q2 Q1 120,000 105,000 105,000 100,000 90,000 90,000 315,000 295,000 Cost of Sales Food purchases 90,000 90,000 Beverage purchases 60,000 60,000 Total Cost of Sales 150,000 150,000 Gross Profit 165,000 145,000 Expenses Marketing Depreciation Expense Insurance 15,000 15,000 18,000 18,000 0 5,000 Employment expenses Superannuation 3,108 3,108 Wages and salaries 24,000 24,000 Workers' compensation 400 400 Total employment expenses 27,508 27,508 Rent 30,000 30,000 Telephone 300 300 Services Electricity 1,500 1,500 Gas Water Total expenses Operating Profit 1,500 1,500 300 300 94,108 70,892 99,108 45,892 Other Income Total Other Income 0 0 Other Expenses Interest expense 6,000 6,000 Training 4,500 4,500 Total Other Expenses 10,500 10,500 Net Profit/Loss 60,392 35,392 Balance Sheet Assets Q2 Q1 Current assets Cash on hand Cheque account 100,000 Payroll cheque account 7,000 80,000 7,000 Cash drawer 650 600 Petty cash 380 350 Undeposited funds 780 700 Electronic clearing account 4,995 4,000 Total cash on hand 113,805 92,650 Total current assets 113,805 92,650 Proterty, plant and equipment Kitchen equipment Kitchen equipment at cost 70,000 60,000 Total kitchen equipment 70,000 60,000 Office equipment Office equipment at cost 30,000 30,000 Total property, plant and equipment 100,000 90,000 Total Assets 213,805 182,650 Liabilities Long-term liabilities Bank loans 15,000 20,000 Total long-term liabilities 15,000 20,000 Total liabilities 15,000 20,000 Net assets 198,805 162,650 Equity Retained earnings Current earnings Total Equity 35,392 30,500 60,392 35,392 95,784 65,892 Profit and Loss Income Food sales Beverage sales Catering fees Total Income Q2 Q1 120,000 105,000 105,000 100,000 90,000 90,000 315,000 295,000 Cost of Sales Food purchases 90,000 90,000 Beverage purchases 60,000 60,000 Total Cost of Sales 150,000 150,000 Gross Profit 165,000 145,000 Expenses Marketing Depreciation Expense Insurance 15,000 15,000 18,000 18,000 0 5,000 Employment expenses Superannuation 3,108 3,108 Wages and salaries 24,000 24,000 Workers' compensation 400 400 Total employment expenses 27,508 27,508 Rent 30,000 30,000 Telephone 300 300 Services Electricity 1,500 1,500 Gas Water Total expenses Operating Profit 1,500 1,500 300 300 94,108 70,892 99,108 45,892 Other Income Total Other Income 0 0 Other Expenses Interest expense 6,000 6,000 Training 4,500 4,500 Total Other Expenses 10,500 10,500 Net Profit/Loss 60,392 35,392