Reference no: EM132835274
Question - Kiara is a small UK organisation. The business is a sole trader organisation owned by Miss Kiara Gill and produces a small range of synthetic products used by larger home and office furniture suppliers. The company financial management office is preparing the business plan for the year ending 30 th September 2022 and, to this end, the following expected quarterly financial data has been gathered from the business functional managers:
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Q1 31st Dec 21 £
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Q2 31st Mar 22 £
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Q3 30th Jun 22 £
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Q4 30th Sep 22 £
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Sales
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60,000
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80,000
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107,000
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71,800
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Purchases
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33,900
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35,000
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38,000
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33,000
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Other opert exp
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19,300
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28,900
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44,100
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24,200
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Fixed assets
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72,000
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72,500
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80,000
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77,500
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Inventory
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6,000
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6,200
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5,500
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5,200
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Accounts receivable
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6,100
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7,000
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7,000
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7,500
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Bank (Overdraft)
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(5,000)
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(4,100)
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1,300
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1,900
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Accounts payable
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2,800
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3,000
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3,000
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5,000
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Long-term loans
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21,000
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22,000
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25,000
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22,000
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Other data: At 30th September 2021:
The inventory valuation is £4,500.
The Miss Kiara capital account balance is £62,000.
It is expected that, for the year to 30th September 2022, Miss Kiara will withdraw £5,000 per month from the business for personal use (i.e. drawings).
Required -
A. Open a new Excel spreadsheet and create worksheet named 'Data' that displays the above given data and calculates the following for each quarter and for the whole year: 1- Cost of goods sold. 2- Gross profit. 3- Gross profit margin. 4- Net operating profit. 5- Net operating profit margin. 6- Contribution to sales ratio per unit. 7- Opening balance (b/d) and closing balance (c/d) of capital account.
B. Create worksheet named 'Results' and an appropriate charts that show quarterly sales, gross profits and net profits, dependent upon the financial report selected.
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