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    Can someone please help me with one or two formulas on this P&L?

    Basically, I've duplicated a P&L where the formulas were already inserted but not explained to me.

    It's about hiring a venue for a big party.

    So the formula in cell B18 is fairly self explanatory - it's the result of the number of people attending x the entry price x the number of events, which is just 1 in this case.

    When it comes to B19 and B20, I'm a bit stuck (same for C19 and C20).

    The formula in cell B19 needs to be B18 minus 4%, so £5000 minus 4% is £4800 so I'm not sure why in the formula it says 1.04 which has caused it to add an extra £8.
    4% as a decimal is 0.04(?) but when I change it, that changes all of the numbers dramatically which definitely isn't right.

    I also need to know if B20 is right as well which should be £5000 minus 4% and VAT.


    Thank you!


    I've just inserted =0.96*B18 into cell B19 which seems to have done the trick.
    and I've just inserted =0.76*B18 into cell B20 which I also think has worked (76 because that's minus the 4% and 20%)

    Is this correct?
    Attached Files
  1. File Type: xlsx P&L.xlsx (9.8 KB, 33 views)
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Updated: January 8, 2017
“Yanny” or “Laurel”

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

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