capital employed? A B C D current assets – current liabilities fixed assets + current assets – current liabilities fixed assets + current assets + current liabilities net assets – current liabilities 2 When preparing a sole trader’s annual accounts‚ no adjustments were made for closing amounts prepaid. What is the effect of these omissions? A B C D net profit overstated net profit understated current assets overstated creditors understated creditors understated owner’s capital overstated
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Accounts Notes Double Entry Example 1 Transactions Debit (In) Credit (Out) Bought goods for resale for cash Purchases Cash Sold goods for cash Cash Sales Paid cash into bank Bank Cash Sold goods and received cheque Bank Sales Bought goods and paid by cheque Purchases Bank Example 2 Transactions Debit Credit Bought goods on credit from M.Mizzi Purchases M.Mizzi Paid M.Mizzi in cash one week later M.Mizzi Cash Sold goods on credit to S.Said S.Said Sales S.Said paid by cheque Bank S.Said Example
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ACKNOWLEDGEMENT First of all‚ I would like to thank Almighty God for giving me the strength to do this SBA‚ Mrs. Clovetta Campbell and finally my Principles of Accounts teacher Ms. Williams who helped me along the way. AIMS OF THE BUSINESS The aim of the business is to achieve exposure of what goes on in the business world. The aim of this business is to also know how to prepare Accounting Ratios‚ how to operate a business and how to achieve customer satisfaction and to attain profit
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• Credit sales of £28 000 were invoiced to customers. • Debtors paid cheques for £24 300 after being allowed £250 discount for prompt settlement. • Additional fixtures and fittings were purchased for £4 000 on credit. • Operating expenses of £4 750 were paid by cheque. • Design materials of £1 350 were purchased on credit. • After receiving £150 discount for prompt settlement‚ creditors were paid £6 200 by cheque. • Bank charges of £600 were charged to the bank account. • Wages
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Question 1 a) Identify three accounts on the balance sheet of Sun Hung Kai that represent tangible assets? Fixed assets‚ Investment properties‚ Properties for sale. b) What are the differences among these accounts? Fixed assets: Known as a non-current asset or as property‚ plant‚ and equipment‚ is a term used in accounting for assets and property which cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts‚ which are described as liquid
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houses. With sales of £5. 6 billion in 2009‚ Pearson operates in more than 60 countries. Financial statements are prepared in accordance with IFRS. Shares trade in London and New York (Source: Company Annual Report and Form 20-F) Refer to the Pearson plc financial statements and footnote excerpts for 2009. All figures are in millions of pounds sterling (L). a. What is an account receivable? What other names does this asset go by? b. How do accounts receivable differ from notes receivable? c. What
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Name : Ronesha Rosal Subject : Principles of Accounts Name of project : Study of accounting procedures of B+M School : Corpus Christi College School number : 160013 Candidate’s number : 160013 Teacher’s name : Ms. Valentine Date submitted : ACKNOWLEDGEMENTS I would like to take this time to thank Table of Contents INTRODUCTION AIMS ACCOUNTING CYCLE Source documents Subsidiary journals
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com/2007/07/04/my-take-on-spin-selling-part-1/ Sales Behavior and Sales Success Successful Salespeople are… • • • Not better closers Not better at handling objections Not better at using open ended questions Many beleive the 3 key components to a sales pitch are: 1. Uncover needs with open and closed questions. 2. Overcome objections. 3. Close for the business. Huthwaite (Rackham’s research company) found through 10 yrs of research that the methods listed above are: • Good for low-value sales According to Rackham
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Sales Forecast After the starting of 3 months we would have to make over 6‚280 to make a profit. After that the sales go up about 10% every month best case. Production The Production will be taken place in the kitchen. Explain your methods of: Method of production would be to make sure there is always fresh pastry’s for quick pickup. Helping customers to keep us in mind. Location Qualities we need for out location is high speed quick customer service. Our location is located around other
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A guide to Consolidated accounts A SIMPLE GUIDE TO CONSOLIDATED ACCOUNTS This is a basic guide prepared by the Technical Advisory service for members and their clients. It is an introduction only and should not be used as a definitive guide‚ since individual circumstances may vary. Specific advice should be obtained‚ where necessary. Requirement to Prepare The Companies Act 2006 gives exemption from the requirement to prepare group accounts to small groups but not medium sized groups
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