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nnabuife chibeckingpls i nid help why do we have discount allowed column at the debit side of the cash book and the credit side of the cash book. when the cash book rules says all income should be debited and expenses credited.10 FebruaryComment
williams sodic A Contra voucher entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c i.e., is a transaction indicating transfer of funds from:
Cash account to Cash account
Cash account to Bank account
Bank account to Cash account
Bank account to Bank account 0027 May
sumaiyah siddiquePlzz help me! Can any one Teach Me Accounting Equation I don't understand when we have to add or Subtract the amount on ASSETS Side or LIABILITIES & PROPRIETORSHIP I Really need help!21 April 2013Comment
simon osei From the large, multi-national corporation down to the corner beauty salon, every business transaction will have an effect on a companyâ€™s financial position. The financial position of a company is measured by the following items:
Assets (what it owns)
Liabilities (what it owes to others)
Ownerâ€™s Equity (the difference between... Read All 1026 April
andy chuks You should check any software vendor near you or use Google to search and download online. Some very good accounting software include:
Peachtree Complete Accounting Software
MYOB Business Essentials Accounting Software
QuickBooks Pro Accounting Software
NetSuite Small Business Accounting Software
BookKeeper Accounting Software
Simply Accounting Accounting... Read All 0008 April 2013
ayub aliFinancial managment In cash flow what did. If this line given
The provision for doubtful debt. Charge to profit26 March 2013Comment
andy chuksA Broker vs Brokerage Firm BROKER
A broker is an individual or party (brokerage firm) that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent: one who acts on behalf of a principal.
In general a broker is an independent agent... Read All07 March 2013Comment
andy chuksWho is a Discount Broker? A discount broker is a firm that charges a relatively small commission by having its clients perform trades via automated, computerized trading systems rather than by having an actual broker assist with the trade. Most traditional brokerage firms offer discount options and compete heavily for client volume due to a shift towards this method of trading.
Other... Read All07 March 2013Comment
harmain perveenthree column cash book i have a question about thee column cash book that in this cash book i have a transaction of deposited cash in excess of 600rs in the bank account.How i will treat it in three column cash book?27 February 2013CommentView All 3 Answers
harmain perveen Thnx simon but i hav one more question 0027 April
adesewa awotunde This is a contra entry. In order to remove excess, you have to first remove 600rs from the bank by crediting it(bank column) and debiting it into the cash column of the cash book. 1013 May
simon osei IS THE PROCESS RECORDING,CLASSIFYING,SUMMARISING AND ANALYSE IT WITH FINANCIAL STATEMENT 0026 April
adesewa awotunde Accrual is like the money you are owing. E.g if u say accrued rent of #500, it means u've not yet paid the rent. Prepayment is the money you pay in advance. E.g electricity fee of #500 paid in advance. So that you will not have to pay the fee the next time it's due 1013 May
pavani j thanks alot King and andy chuks...good night. 1021 September 2012
adeyemi c osho Third party is a term from Insurance Policy. Third party payment is made to the insured persons negligence should he plead guilty. E.g. Mr Jones has third party policy with Capital Express Insurance, and Mr Jones collided with another vehicle of Mr Rio. Mr Rio is a third party and his claiming that Jones should put his car in order, Jones will approach... Read All 0024 October 2012
kingtappa kings he history of accounting is as old as civilization, key to important phases of history, among the most important professions in economics and business, and fascinating. Accountants participated in the development of cities, trade, and the concepts of wealth and numbers.
Accountants invented writing, participated in the development of money and banking,... Read All 0019 September 2012
suleiman umaru usman well, accounting is the most old and wide proffesion in the world; which trace its history from the begining of human existance. looking at religious philosophy, God has promised the rigtheous once internal life, and none believers hell. the result are brought forward from the account of the individuals. gradually, from generations to generation. today... Read All 0019 September 2012
bello sulaimon @kings and Essien, If u said credit sales should be entered in cash book, then y u call am cash book.
@ danushka, credit sales is not recorded in the cash book but rather in the sales day book.
the treatment is credit sales a/c and debit sales day book/debtors account 0014 November 2012
simon osei BELLO IS TRUE BECAUSE AT THE END OF THE DAY THOSE CUSTOMERS YOU SOLD GOODS TO THE BECOMES A DEBTOR 0026 April