Tastee Bites (Pty) Ltd is a restaurant chain situated in the Eastern Cape province. It specialises...

 

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Tastee Bites (Pty) Ltd is a restaurant chain situated in the Eastern Cape province. It specialises in selling African cuisine and provides catering services in addition to offering take away options. The chain also sells food via the mobile application, Uber Eats. Tastee Bites is planning to open other stores in Gauteng but will need funding. Below is Tastee Bites trial balance for August 2024: Tastee Bites trial balance ending 31 August 2024 Sales Tax Cash Advertising costs Buildings Equipment DR 330 31 800 400 10 900 10 000 CR 6 200 Activate Wing Go to Settings to a Equipment Long-term liabilities Inventory Accounts receivable 10 000 21 750 17 600 4 100 Milpark Education Finance Managers FMAN02-6 Assignment March 2024 Page 2 of 8 Accounts payable Marketing costs Share capital Cost of goods sold Salaries and wages Interest 650 1 800 1 400 850 79 830 16 450 35 430 Activat79/830 WS Go to Settings to activate V Accounts payable Marketing costs Share capital Cost of goods sold Salaries and wages Interest 650 16 450 35 430 1 800 1 400 850 79 830 79 830 Required: 1.1 Suggest 2 ways in which Tastee Bites can fund its planned expansion. Explain your answer. (4) 1.2 Prepare the Statement of Profit or Loss and Other Comprehensive Income for Tastee Bites for the year ending 31 August 2024. (6) Tastee Bites (Pty) Ltd is a restaurant chain situated in the Eastern Cape province. It specialises in selling African cuisine and provides catering services in addition to offering take away options. The chain also sells food via the mobile application, Uber Eats. Tastee Bites is planning to open other stores in Gauteng but will need funding. Below is Tastee Bites trial balance for August 2024: Tastee Bites trial balance ending 31 August 2024 Sales Tax Cash Advertising costs Buildings Equipment DR 330 31 800 400 10 900 10 000 CR 6 200 Activate Wing Go to Settings to a Equipment Long-term liabilities Inventory Accounts receivable 10 000 21 750 17 600 4 100 Milpark Education Finance Managers FMAN02-6 Assignment March 2024 Page 2 of 8 Accounts payable Marketing costs Share capital Cost of goods sold Salaries and wages Interest 650 1 800 1 400 850 79 830 16 450 35 430 Activat79/830 WS Go to Settings to activate V Accounts payable Marketing costs Share capital Cost of goods sold Salaries and wages Interest 650 16 450 35 430 1 800 1 400 850 79 830 79 830 Required: 1.1 Suggest 2 ways in which Tastee Bites can fund its planned expansion. Explain your answer. (4) 1.2 Prepare the Statement of Profit or Loss and Other Comprehensive Income for Tastee Bites for the year ending 31 August 2024. (6)