ACCOUNTANCY A LEVEL(FORM SIX) NOTES – PAYROLL ACCOUNTING/EMPLOYEES PAY(5)
PAYROLL ACCOUNTING/EMPLOYEES PAYAll business entities have to pay employee’s for the services. An employee is the one who perform services, subject to the supervision and
ACCOUNTANCY A LEVEL(FORM SIX) NOTES – RETIREMENT OF A PARTNER:(3)
Retirement of a Partner:We have discussed the accountancy problems that arise on admission of a new partner.In this chapter, we shall look at the problems
ACCOUNTANCY A LEVEL(FORM SIX) NOTES – PARTNERSHIP ACCOUNTING(1)
PARTNERSHIP ACCOUNTINGA. PARTNERSHIPWHAT IS IT? A partnership is a relationship between persons who have agreed to share the profit and loss of the business carried
ACCOUNTANCY A LEVEL(FORM SIX) NOTES – COMPANY ACCOUNT 1.6
(iv) Insurance Policy Method:Instead of investing the sum in securities, the same is paid by way of an insurance premium to an insurance company which
ACCOUNTANCY A LEVEL(FORM SIX) NOTES – COMPANY ACCOUNT 1.1
COMPANY ACCOUNT 1.1What is a company?It is a voluntary association of persons formed to carry out some business for profit , with capital divisible into
ACCOUNTANCY 6 – COMPANY ACCOUNT 1.4
DR REDEEMABLE DEBENTURES ACCOUNT CR1st yearDeb. Redemption3,00015,00031.12.90Bal. c/d12,00015,00015,000Balance b/d12,000DR DISCOUNT ON ISSUE DEBENTURE ACCOUNT CRDeb. Appl. & Allot75031.12.90P & L250Bal. c/d500750750DR DEBENTURE REDEMPTION ACCOUNT CR31.12.91Cash3,000Redeemable
ACCOUNTANCY 6 – COMPANY ACCOUNT 1.2
DR APPLICATION & ALLOTMENT CRBank (refund)80,000Bank (applied money)380,000Ordinary share capital (10+5) x 25,000375,000Bank (allot money)325,000Premium share (10 x 25,000)250,000705,000705,000DR ORDINARY SHARE ACCOUNT CRBalance c/d1,250,0001st call375,000Application
ACCOUNTANCY A LEVEL(FORM SIX) NOTES – COMPANY ACCOUNT 1.7
COST CLASSIFICATIONCosts may be classified under three main categories:Fixed and variable costsDirect and indirect costsCost classification by functionFIXED AND VARIABLE COSTFixed CostFixed cost is the