SSCE HSC Business Studies Financial management strategies: Examine the following financial

Question

Examine the following financial data from Bayside Diner Pty Ltd for the financial year ending 30 June 2002.

|                     | July–September $ | October–December $ | January–March $ | April–June $ |
|---------------------|------------------|---------------------|------------------|---------------|
| Opening balance      | 2,000            |  -1,000             | 7,000            | 20,000        |
| Cash sales           | 20,000           | 48,000              | 54,000           | 16,000        |
| Debtors’ receipts    | 2,000            | 6,000               | 14,000           | 13,000        |
| Total cash revenues   | 22,000           | 54,000              | 68,000           | 19,000        |
| Wages                | 20,000           | 32,000              | 38,000           | 32,000        |
| Food supplies        | 3,000            | 8,000               | 8,000            | 3,000         |
| Other expenses       | 2,000            | 2,000               | 7,000            | 2,000         |
| Total cash expenditure| 25,000           | 46,000              | 55,000           | 37,000        |
| Closing balance      | -1,000           | 7,000               | 20,000           | 2,000         |

(a) What is the name given to this type of financial statement?

(b) Outline the role of this financial statement.

Examine the following financial data from Bayside Diner Pty Ltd for the financial year ending 30 June 2002 - HSC - SSCE Business Studies - Question 26 - 2002 - Paper 1

Worked Solution & Example Answer:Examine the following financial data from Bayside Diner Pty Ltd for the financial year ending 30 June 2002 - HSC - SSCE Business Studies - Question 26 - 2002 - Paper 1

What is the name given to this type of financial statement?

Outline the role of this financial statement.

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