ACOUSTIC MAN STUDIOS- PROFIT AND LOSS ACCOUNT- FOR THE YEAR END 31st DECEMBER 2016

Student Name: Rory Taylor

Class: HN MUSIC BUSINESS

Month Jan Feb March April May June July August September October November December Total

Revenue-Studio Hire 8768.96 4480 6970 3506 6387 4240 1250 1188 4260 3565 5280 7960 57,854.96

Revenue- Sponsorship 602.89 605.66 609.02 544.86 525.05 602.89 522.86 1011 322.88 405.66 880 600.92 7,233.69

Cost of sales 200 590 300 600 52 99 250 560 320 400 200 600 4,171.00

Gross Profit 60,917.65

Expenses/overheads
Premises (rent, rates) 285 285 285 285 285 285 285 285 285 285 285 285 3,420.00
Electricity 223 115 145 85 85 85 65 55 80 150 250 250 1,588.00
Broadband 30 30 30 30 30 30 30 30 30 30 30 15 345.00
Telephone 29 33 40 110 110 123 200 180 160 140 110 50 1,285.00
Insurance 190 190 190 190 190 190 190 190 190 190 190 190 2,280.00
Postage and carriage 85 15 45 90 100 380 410 66 49 51 62 40 1,393.00
Advertising 250 295 295 325 425 110 150 150 295 395 395 395 3,480.00
Interest and bank charges payable 0 0 0 0 0 28 15 28 28 0 0 0 99.00
Stationery 15 15 15 30 30 50 52 19 20 20 15 35 316.00
Salaries 400 400 400 400 400 400 400 400 400 400 400 400 4,800.00
Car Finance 180 180 180 180 180 180 180 180 180 180 180 180 2,160.00
Accountancy fees 350 228 0 0 450 450 220 210 0 0 150 90 2,148.00
Legal/professional fees 0 0 0 229 359 0 0 0 0 0 0 0 588.00
Depreciation 0 0 0 0 0 0 0 0 0 0 0 24233.33 24,233.33
Tax 0 0 0 0 0 0 0 0 0 0 0 6500.09 6,500.09
Total expenses/overheads 54,635.42

Net profit 6,282.23

ACOUSTIC MAN STUDIOS-YEAR END 2016
ASSETS

Fixed Assets
COPYRIGHT 20,000.00
WEBSITE 60.00
OFFICE SPACE 19,500.00
COMPUTERS 2,100.00
EQUIPMENT 126,666.67

Total: 168,326.67

Current Assets
CASH 450.99
STOCK 600.50

Total: 1,051.49

Total assets 169,378.16

LIABILITIES

Current Liabilities
TAXES 6,500.09
OVERDRAFT 400.00
LOANS 7,000.00
ELETRIC 500.00

Total: 14,400.09

Long Term Liabilities

LOANS 14,000.00
CAR FINACNE 6,480.00

Total: 20,480.00

Total liabilities 34,880.09

NetAssetValue 134,498.07

Opening capital 128,215.84

Profit made in year 6,282.23
Instructions
You should make sure all figures are under the correct headings, financially c
well presented and inclusive of financial calculations such as depreciation.
ct headings, financially correct,
such as depreciation.