We all know how this story ended but what happened next
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We all know how this story ended…….but what happened next??? PowerPoint PPT Presentation


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We all know how this story ended…….but what happened next???. Mr. Wolf wanted revenge. He decided to invent a special machine The machine was a wind machine, which could blow hurricane speed winds….which could easily knock down a small brick house

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We all know how this story ended…….but what happened next???

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We all know how this story ended…….but what happened next???


  • Mr. Wolf wanted revenge.

  • He decided to invent a special machine

  • The machine was a wind machine, which could blow hurricane speed winds….which could easily knock down a small brick house

  • News of his invention spread to other wolves in the area. What do you think happened next?


  • He set up a business, making and selling these machines!

  • It has been running successfully for the last few years, but he is not sure if he made a profit or a loss last year.

  • He needs your help now to put together his Trading Account for 2011.


Mr. Wolf Ltd

In 2011, Mr Wolf sold 100 machines. Each machine was sold for €200.

What is Mr. Wolf’s sales figure for 2011?

Sales

€20,000


Mr. Wolf Ltd

5 machines were returned to Mr. Wolf in 2011.

What is Mr.Wolf’s Returns In figure for 2011(Each was sold for €100)?

Returns In

€500


Mr. Wolf Ltd

  • At the beginning of the year, Mr. Wolf had 20 machines in stock. These had cost him €70 each to make.

  • How much is his opening stock worth?

Opening Stock

€1,400


Mr. Wolf Ltd

  • During 2011, Mr Wolf purchased parts used for making the machines. The total amount he paid was €11,500.

Purchases

€11,500


Mr. Wolf Ltd

  • During 2011, Mr Wolf returned parts which had cost him €250.

Returns Out

€250


Mr. Wolf Ltd

  • The cost of bringing the materials to the factory was €3,450

  • What is this called?

Carriage in

€3,450


Mr. Wolf Ltd

  • Mr. Wolf also had to pay €1,150 Import Duty on his purchases. He had no other Costs of Sales.

Import Duty

€1,150


Mr. Wolf Ltd

  • On the last day of 2011, when Mr. Wolf closed up his factory, he had 50 wind machines left unsold. The total cost of making these goods was €3,500.

Closing Stock

€3,500


Mr. Wolf Ltd

  • Mr Wolf also had the following business expenses:€

    • Telephone30

    • Advertising140

    • Light & heat60

    • Carriage Out90

    • General expenses150


The Good News…..

  • Mr. Wolf made enough money from his business to buy food and he decided to leave the pigs alone.

  • And they all lived…………..

Happily ever after


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