1. Income, Expenditure & Profit
Class Exercise:
Vuyo runs his own taxi service in which he transports people to and from his township and the city. The monthly income and expenses that Vuyo encounters in his taxi business are summarised in the table below:
IDENTIFYING INCOME & EXPENSES
Income:
Petrol
R 1 025
Car wash
R45
Taxi maintenance
R110
Money from taxi fares
R3 500
Car insurance
R305
Salary of taxi driver
R500
Traffic fines
R200
Distinguish between : Fixed and Variable expenses
Calculate Profit:
Calculate Profit Margin:

2. EXPENSES INCOME Profit Profit Margin
Whiteboard layout
Fixed
Expences
Variable
Expences
INCOME
Definition:
Money coming into a business. Main source of money is usually sales.
Definition:
Expenses which remain the same from month to month
Definition:
Expenses which vary/change on a month to month basis
Profit
Profit Margin
Formula:
= Income - Expenses
Formula: