Jacksthelad
New member
- Joined
- Oct 1, 2021
- Messages
- 3
Hi everyone I am new here just need a little help with this Maths question.
Thanks guys.
Michael is reviewing his home baking business after he has reported losses in the last six months. Here is a basic outlay of his financial figures.
Assets (What he owns)
Cash £7,000
Machinery £10,000
Motor vehicle £12,000
Liabilities (What he has to pay)
Loans £27,000
Overdrafts £19,500
Tax payable £18,000
Michael is now making £3,000 a month profit after all expenses, including overheads and staff costs, as demand for his produce is steadily increasing.
Should Michael continue his business based on these figures? Explain your answers with supporting details.
Thanks guys.
Michael is reviewing his home baking business after he has reported losses in the last six months. Here is a basic outlay of his financial figures.
Assets (What he owns)
Cash £7,000
Machinery £10,000
Motor vehicle £12,000
Liabilities (What he has to pay)
Loans £27,000
Overdrafts £19,500
Tax payable £18,000
Michael is now making £3,000 a month profit after all expenses, including overheads and staff costs, as demand for his produce is steadily increasing.
Should Michael continue his business based on these figures? Explain your answers with supporting details.