INTRODUCTION TO CHEMISTRY
Today, we are going to start with CHEMISTRY. Before we proceed, its important you understand the basic fact about the subject. As one of the science subjects, CHEMISTRY can be seen as a science that deels with the study of the composition,properties and uses of matter.Its a subject that explains how living and non-living things exists. It ranges from SOLID, LIQUID and GAS. We are going to stop here for now....!!
FINANCIAL ACCOUNT 101.
THREE COLUMN CASHBOOK.
Hey Guys, it’s a new day to live and learn. Let’s get straight
to work.
Three
Column Cashbook is a book that shows or combines Cash, Bank, and
Discount on the debit and credit sides. On the debit side of the cashbook is
the Discount Allowed column while Discount Received column is on the credit
side.
Discount is the
reduction in the price of Goods in order to encourage Bulk Purchases and Prompt
Payment.
Types of Discount:
1. Trade Discount is an
Allowance made by Manufacturers or Wholesalers, to retailers in form of
Reduction from price of goods supplied.
2. Cash Discount is a
percentage allowance for prompt payment of an account or for payment within a
specified period of time.
Classification of Cash Discount:
1. Discount Allowed is the
discount given to the customers for prompt payment of their account. It will be
entered on the debit side of the three column cashbook and be credited to the
personal account of the customer.
2. Discount Received This is
the discount received from suppliers for prompt payment of their account. It is
credited to the discount received column on the three column cashbook and
debited to
