Individual Assignment Introduction to Financial Accounting (ACC106) Mega Lawa Trading is a sole proprietorship business owned by Milah Mela. Transactions below are the business activities for the month of December 2013. Date Transaction Effects of Transaction Principles of Double Entry 1 Started a business with a cash at bank for RM 15‚000 and cash in hand for RM 10‚000 3 Purchased machinery on credit from Happy Machine Supplies amounted to RM 90‚000 4 Bought inventories
Premium Double-entry bookkeeping system Sole proprietorship Bookkeeping
The reason I carried out the two activities because the opportunity was given to me to plan activities for my key children‚ who had gaps in certain areas of their development. The ideas came from the previous assessments that had been carried out‚ which I used to make the implementations for the learning intentions and outcomes. The two activities involve the children actively learning through social interactions with one another‚ because the children have been paired up with a child and a supervising
Premium Developmental psychology Learning Skill
English Learning Reflective Journal – Reading Newspaper There are many ways to improve my English‚ for instance‚ watching English Channels or movies and reading more English books. But I think this is not enough. Therefore‚ I choose to learn more daily news instead of just watching a movie or reading a book. There is only one way to learn English and to know more about our society and global economy at the same time. I think learning English is so hard. There is no doubt for saying that
Premium Learning
it will be recorded in the purchase journal‚ once it has been certified as a valid invoice. After the journal entries‚ the next step is to post the journal entries into account. Ledger Account also known as “T” Account and Account. Ledger accounts categorize these changes or debits and credits into specific accounts‚ so management can have useful information for budgeting and
Premium General ledger Balance sheet Generally Accepted Accounting Principles
Goods/Stock purchased or sold being returned is quite a common practice in business. This may be on account of a number of reasons like defects in goods‚ quality not matching the requirement for which the buyer purchased it‚ the buyer not needing the stock‚ etc. This happens both in case of goods purchased as well as goods sold by the organisation. Where the goods sold are being returned we call it "Sales Returns" and where goods purchased are being returned we call it "Purchase Returns"
Premium Bookkeeping Asset Balance sheet
available capital for the purpose of maximizing the long term profitability of the concern. Definition of Capital Budgeting:- Prof I.M.PANDEY Defines Capital Budgeting as the firms decision to invest its current funds most efficiently in long term activities in anticipation of an expected flow of future benefits over a series of years. Charles T Horngren Defines Capital Budgeting is long term planning for making and financing proposed capital outlays. Features of Capital Budgeting:- 1. The exchange
Premium Net present value
company issue a share having face value of Rs 10 at Rs 8 Give two examples of ‘Capital receipts’. Give two circumstances in which sacrificing ratio may be applied (1) (1) (1). (1) (1) Show how you would deal with the following items in the final accounts of a club: (3) Debit credit Prize fund Prize fund Investments 1‚20‚000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1‚20‚000 12000 A‚B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest
Premium Balance sheet Asset Stock
TDA 3.7 Support Assessment for learning 1.1 Compare and contrast the roles of the Teacher and the learning support practitioner in assessment of learners achievements. The roles of a teacher as compared to a learning support practitioner arte more of a authority figure and a role model. The day to day running’s and main responsibilities of the whole class are on the teacher. the Teacher will also plan the lesson so that the learners can progress. In contrast of the roles of the teacher compared
Free Education Teacher
Promoting Lifelong Learning By Anderson Pustam Promoting Lifelong Learning Introduction Promoting lifelong learning is a very professional term. It really promotes the real meaning of the learning and it also inculcates one most important thing in a learner’s mind that learning is not restricted to the classroom or college. We can learn any time through any means. It can be our professional experience or within voluntary service as well. In my case I have learnt different things during
Premium Health care Medicine
profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks) Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset. The reasons why accountants and bookkeepers use different names for the same thing is because bookkeepers are the people
Premium Balance sheet Generally Accepted Accounting Principles Finance