NABETB ACCOUNT

VERIFIED NABETB ACCOUNT OBJ
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(1a) Authorized Capital is the total amount stated in the memoradum of associating and approved by the registrar of companies which can issue out
(1b) Dividend is a share of profits of a company paid to a share holder as retunrs on his investment in the company
(1c) Goodwill is an  asses, but it can not be seen or touched, hence it is referred to as intangible asset. it can also be defined as the excess of the purchase consideration over the total value of assets less laibilities. It is not a tangible asset and cannot be realized until the business is to be sold
(1d) Prime Cost is a business expenses for the materials and labour  it uses in production. Its a way of measuring the total cost of the production inputs needed to create a given out. it is used to detemine how much a company will change for its finished product
(1e) Cash book: This is the book for recording detailed particulars of all money received and paid. all cash transactions and transactions with cheque must pass through the cash book. It is a subsidiary book and really part of pricinpal book called ledger. The cash and bank account are taken out of the ladger and combined into a single book called cash book.




(2a) Partnership can be define as the relationship which subsists between persons carrying on a business in common with a view of profit. It can be form by two to twenty persons
(2b)
Active partners
Dormant partners
Normal partners
Sleeping partners




- Active partners- this is the partner who takes active part in the formation and management of the business
- Dormant partners: The dormant partner does not partake in the day today running of the business but he only contribute
- Normal partners: the partner only contributes his name to the formation of the business and nothing more
- Sleeping partners: This are more of a dormant partners they does not partake in the business runing




(6a)
Adjusted cash book of osaro for the month of march 2009
Tabulate cr side and dr side
Under dr side:
Bal c/d 3800
Total 3800
Under cr side:
Bal b/f 2540
Bank charges 490
Standing order 770
Total 3800
Bal b/d 3800
(6b)
Bank reconciation statement
Bank as per adjusted cash book 3800
Add uncredited cheque 1060
Total 4860
Less unpresented cheque 630
Balance as per bank statement 4230




(4 )
Revenue statement for koko local govt for the year ended 31st dec 2004
Tabulate head|particulars|amount
Under head:2113,3401,2012,3014,3230,3101,3007,2012,2013,2001
Under particular:vat allocation,fines,licence,interest on investment,state statutory allocation,environment sanit,motor lease rental,rent from stores,investment,revenue
Under amount:520,000.60,000.200,000.250,000.6,000,000.155,000.250,000.550,000.1,750,000.1,500,000
Total:11,235,000

Expenditure statement for koko local govt for the year ended 31st dec 2004
Tabulate head|particulars|amount
Under head:3001,2111,4000
Under particulars:salaries,motor fuelling,borehole maintenance
Under amount:5,000,000.840,000.65,000
Total:5,905,000




(5a)
Income and expenditure a/c for the year ended 31st dec 1989
Tabulate expenditure|income
Under expenditure:
Rent:2160
Insurance 170
Printing:135
Secretary exp:330
Postage:1630
Depreciation:50
Equipment:28
Surplus of income over expenditure:17
Total:4520
Under income:1480
Fees:1700
Donations:1340
Total:4520
 (5b)
Balance sheet as at dec 31st 2001
Tabulate dr and cr side
Under dr side:
Accumulated fund:1500
Add surplus of income:17
Total:1517
Liabilities-rent owing:540
Printing owing:15
Subscription in adv:200
Total:2272
Under cr side
Fixed asset:
Land and building:950  
Eqipment:532
Current assets
Cash:570
Insurance:20
Secretary exp:80
Subscription:120
Total:2272



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