Accounts; Economics; Business; Post your doubts here!

[TheEconomist]

^ you did not help me in anyway. thanks for wasting my time.. bye.

 

[doctormani]

This topic should pe sticked!!!

 

[SalmanPakRocks]

This topic should pe sticked!!!

This Thread particularly doesn't recieve much of the traffic so I believe making it sticky would not be such a good idea.

 

[doctormani]

May b bcx ppl dont see this thread!

 

[SalmanPakRocks]

May b bcx ppl dont see this thread!

I will surly discuss this with other Moderators and would let u know.

 

[doctormani]

K

 

[sweetiepie]

Topic should be sticky

 

[SalmanPakRocks]

Topic should be sticky

I asked from the global moderator and I don't think there is any reason to make it sticky. Sorry

 

[sweetiepie]

I asked from the global moderator and I don't think there is any reason to make it sticky. Sorry

whyy

 

[Moiz]

What is the statement of affairs?
what is the format for the statement of affairs?
How do we find out capital(opening AND closing)?
Why do we need to find out the capital introduced during the year?
How do we find out sales and purchases? @salman pk

Statement of financial position basically show the financial position of a business at a particular date.
Format
Fixed assets xxx
current assets xxx
L:current liabilities (xx)
working capital xxx
l:loan (xx)
net assets xxx

capital at start of period xxx
a: net profit xxx
L: drawings (xx)
capital at end xxx

Note: working cap= CA- CL
Net assets= FA + WC -Loan
Capital at end= Cap at beg + NP - drawings

Capital= All assets - all liabilities

Sales and purchases are of two types:
Credit and cash. Credit sales n purchases can be found through CONTROL ACCOUNTS while those on cash are recorded in cash book

 

[Moiz]

"Additional INV" what does this mean? investment?
some examples would be really helpful

yup its additional investment. It means the investment you do in between the financial period. For example if the owner decides to bring in a Motor vehicle in the business which costs $10000, so this will be the additional investment and the double enrty will be:
Motor vehicle DR
capital CR

 

[zeshan huq]

what are the chapters in the syllabus for 2012?? i have the book igsce business studies by karen brrrington and peter stimpson

 

[Khalil Rizvi]

Compiled accounting notes pleaseeee....

 

[Waleed007]

Compiled accounting notes pleaseeee....

Visit here : http://www.scribd.com/doc/51241192/O-Levels-Accounting-Notes-www-O-Alevel-com

 

[Khalil Rizvi]

Where were you WALEED..? What an Angel you are. You just pulled me out of one heck of a problem. Thanks.. sorry for going off the topic

 

[Waleed007]

Where were you WALEED..? What an Angel you are. You just pulled me out of one heck of a problem. Thanks.. sorry for going off the topic

no problem

 

[sweetiepie]

Compiled accounting notes pleaseeee....

here u go

 

[sweetiepie]

Compiled accounting notes pleaseeee....

sum more

 

[Khalil Rizvi]

sum more

Thank you so much.

 

[AreebaKausar]

could u tell me the links of and locate or attach model answers for gce o level economics, business studies and commerce, from where
can i get the pattern or the style of writing to be adopted into the papers
plz reply fast,,.