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Accounting doubts & Queries

AlphaBeta

AlphaBeta

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hitler575 said:
Sure! Just got a bit busy with new batch. Give me three more days. How was the As-level mcq pack? Did that help you?
Click to expand...
sorry for disturbing ......but can u please upload the A2 mcq pack before feburary ....jazakalllah:)
 
ICCWC2015

ICCWC2015

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A club provides the following information for a year.
Annual subscriptions received in the year 4, 000
Annual subscriptions received in advance 50
at the end of the year
Balance on Life Subscriptions account at 500
beginning of the year
Life subscriptions received during the year 100

The club's policy is to credit life subscriptions to the Income and Expenditure account over five years.
How much should be credited to the Income and Expenditure account for subscriptions for the year?
 
Z

zainabkhann

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Hi, I am new to accounting, Want to ask two questions

- First that i wanted to give ALEVEL accounting, however i also wanted to give OLEVEL principle of accounts to have a better knowledge of the whole accounting subject, however CIE registration website wouldnt let me know when i was applying for the upcoming session, Why is that?, Whats the reason behind it?

- Secondly I started the first chapter of ALEVEL accounting which is Double Entry Book Keeping : Cash Transactions and i came across an example. which is attached below, Can someone please let me know why purchases of things such as motor vehicles is firstly shown on the left hand side of the account and afterwards when the stocks are being bought, the stock purchase and the motor vehicles are recorded on the right hand section (i find it quite weird as thats the side where the credit side should be shown) and this was not received by the business. Do they mean in the sense that the business technically did receive these two things when the owner bought them , hereby recalling that every single give and take transaction should be taken into account, or is there a different reason to this? Please let me know, the question is quite simple. I have worded it a bit difficult for my own understanding right now

And if someone could help me understand why we have to make seperate accounts, rather than label them with the date on either the credit or debit side, to save up page space and time?

I would appreciate this alot

Kind Regards
 
hitler575

hitler575

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zainabkhann said:
Hi, I am new to accounting, Want to ask two questions

- First that i wanted to give ALEVEL accounting, however i also wanted to give OLEVEL principle of accounts to have a better knowledge of the whole accounting subject, however CIE registration website wouldnt let me know when i was applying for the upcoming session, Why is that?, Whats the reason behind it?

- Secondly I started the first chapter of ALEVEL accounting which is Double Entry Book Keeping : Cash Transactions and i came across an example. which is attached below, Can someone please let me know why purchases of things such as motor vehicles is firstly shown on the left hand side of the account and afterwards when the stocks are being bought, the stock purchase and the motor vehicles are recorded on the right hand section (i find it quite weird as thats the side where the credit side should be shown) and this was not received by the business. Do they mean in the sense that the business technically did receive these two things when the owner bought them , hereby recalling that every single give and take transaction should be taken into account, or is there a different reason to this? Please let me know, the question is quite simple. I have worded it a bit difficult for my own understanding right now

And if someone could help me understand why we have to make seperate accounts, rather than label them with the date on either the credit or debit side, to save up page space and time?

I would appreciate this alot

Kind Regards
Click to expand...
It is my advice, as you're new to Accounting that you must study from a good teacher in your area otherwise understanding the principles of Accounting would be very difficult for you specially Alevel accounting. I am sorry but I have failed to understand your question however when ever you purchase a Motor Vehicle or Purchase stock then their respective accounts will always be debited because Asset increases. However it's better that you join accounting tuitions, you may join my batch if you live in Karachi DHA or try some one else in you're area.
Thankyou!
 
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sayanora

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Can anyone help me how to identify Bad debts in a non profit making organisation? Please
It wud be better if an example is also included
 
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