BOOK KEEPING O LEVEL(FORM THREE) NOTES – ADJUSTMENT
ADJUSTMENTYEAR END ADJUSTMENT Principles of Book keeping requires that all transactions made should be recorded at the time made should be recorded at the time
BOOK KEEPING O LEVEL(FORM THREE) NOTES – DEPRECIATION OF FIXED ASSETS-1
DEPRECIATION OF FIXED ASSETS-1DEPRECIATIONDefinition.Depreciation is the decrease in value of assets or the fall in value of assets.What factors cause Depreciation?Physical deterioration or wear and
BOOK KEEPING O LEVEL(FORM ONE) NOTES – ELEMENTARY BALANCE SHEET
ELEMENTARY BALANCE SHEET ELEMENTARY BALANCE SHEETIs a statement which shows that list of assets, liabilities and capital of business at as specific period.The purpose of
BOOK KEEPING O LEVEL(FORM TWO) NOTES – BOOK OF PRIME ENTRY(1)
BOOK OF PRIME ENTRYJournalsJournal is a French word meaning “Daily Record”. It is used to record transactions initially before the businessman forgets the exact details
BOOK KEEPING O LEVEL(FORM TWO) NOTES – THE PETTY CASH BOOK
THE PETTY CASH BOOKDefinitionIs the cash book which used to record small expenses/expenditure which take place from time to time within the business.ORIs the book
BOOK KEEPING O LEVEL(FORM TWO) NOTES – BANK RECONCILIATION STATEMENT
BANK RECONCILIATION STATEMENTWhen the money is deposited by us into bank, we debit the cash book in the bank column, on the other hand, on
BOOK KEEPING O LEVEL(FORM FOUR) NOTES – JOINT VENTURE
JOINT VENTUREIs a temporary partnership, it is formed when two or more people undertaken a certain business acting together instead of doing it separately, e.g.
BOOK KEEPING O LEVEL(FORM TWO) NOTES – BOOK OF PRIME ENTRY(2)
POSTING THE SALES JOURNAL TO THE LEDGERWhen the sales day book is posted to the ledger each customer is debited with the goods which has