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???

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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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Presentation Transcript
slide2
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?
slide3
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
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 ltd1
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 ltd2
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 ltd3
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 ltd4
Mr. Wolf Ltd
  • During 2011, Mr Wolf returned parts which had cost him €250.

Returns Out

€250

mr wolf ltd5
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 ltd6
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 ltd7
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 ltd8
Mr. Wolf Ltd
  • Mr Wolf also had the following business expenses: €
    • Telephone 30
    • Advertising 140
    • Light & heat 60
    • Carriage Out 90
    • General expenses 150
the good news
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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