Question
Calculate this company's a) total income. b) total expenditure. c) profit. Description & Money in & Money out Sales - Monday & £ 20.00 & Wages - cleaning staff & & £ 120.00 Stall hire fee & & £ 50.00 Sales - Tuesday & £ 35.00 & Supplies - paint & & £ 4.00 Sales - Wednesday & £ 15.00 &
Answer
4.4
(289 Votes)
Terrence
Elite · Tutor for 8 years
Answer
## Total Income:With the sum of:
=
## Total Expenditure:It includes the sum of:
## Total Profit:The profit can be calculated using the formula given in step 3 explanation, here it will be
.So the correct profit will be
.
Explanation
## Step1: Total Income calculationTo calculate the total income, we need to sum all items listed under "money in" category in the table.## Step2: Total Expenditure calculationSimilarly, for total expenditure, we need to sum all items of "money out". ## Step3: Profit CalculationProfit is commonly known as the difference between total income and total expenditure.### The formula would be:
## Step4: Perform CalculationsFirstly execute 'total Income' and 'total expenditure' calculation from Step1 and Step2; finally calculate the Profit in Step3.