FINANCIAL ACC 101

ANSWERS TO REVISION QUESTIONS Hello World, Happy Holiday to you all and Happy Friday and Happy Weekend. Its alot of Happy Points for Us this Season Guyz. Lolz- Hope this Holiday is Fun for You and All Your Loved Ones. It is Well in Jesus Name. Well for some weeks now, we have dealt solely on revision Questions gotten from WAEC Past Questions and Today we will try to Answer them, Hope you all tried them cos thats the only way you can truly be sure of your performance. Alright Let's get Started......... 1.  B- Cash book.              ...

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FINANCIAL ACC 101

REVISION QUESTIONS Hey Everyone, Happy Holiday to you. I guess i would say this till the end of the Holiday Period. So once again Happy Holiday Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't displease God in the process cos He's the reason you can have fun-Be Blessed. So in the Spirit of Holiday we are continuing revising all WAEC, JAMB & GCE Questions we can find to keep our mind fresh and in tune that way we are ready when schools resume again, so let's get started........ 36. Which of the following...

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FINANCIAL ACC 101

REVISION QUESTIONS Hey Everyone, Happy Holiday to you. I guess i would say this till the end of the Holiday Period. So once again Happy Holiday Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't displease God in the process cos He's the reason you can have fun-Be Blessed. So in the Spirit of Holiday we are continuing revising all WAEC, JAMB & GCE Questions we can find to keep our mind fresh and in tune that way we are ready when schools resume again, so let's get started........ 24. In the Balance Sheet,...

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FINANCIAL ACC 101

REVISION QUESTIONS Hey Everyone, Happy Holiday to you. I guess i would say this till the end of the Holiday Period. So once again Happy Holiday Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't displease God in the process cos He's the reason you can have fun-Be Blessed. So in the Spirit of Holiday we are continuing revising all WAEC, JAMB & GCE Questions we can find to keep our mind fresh and in tune that way we are ready when schools resume again, so let's get started........ 13. Which of the Following...

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FINANCIAL ACC 101

REVISION QUESTIONS Hey Everyone, Happy Holiday to you. I guess i would say this till the end of the Holiday Period. So once again Happy Holiday Season and Happy Summer to those of us Aboard. Have Fun and be Joyful but don't displease God in the process cos He's the reason you can have fun-Be Blessed. So in the Spirit of Holiday we are revising all WAEC, JAMB & GCE Questions we can find to keep our mind fresh and in tune that way we are ready when schools resume again, so let's get started........ 1. Which of the following books of...

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FINANCIAL ACC 101

CORRECTION OF ERRORS Hey Readers, Happy New Day to you all. I know without a doubt that God has been Kind to you and all your Family members. Even though you can't really boast of anything Amazing in your Life right now, you are ALIVE!!!!. that alone is Amazing so today if you are downcast just focus on celebrating your Life and let's make the enemy Mad together. LOLZ, so let's get right to work...... In preparing a Trial Balance the both sides must be equal where by one side is greater than the other, it means there is an error. Errors...

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FINANCIAL ACC 101

JOURNAL PROPER Hey Guys, wats happening with y'all. Hows the week going, have fun and be positive. I know sometimes it is very difficult to be but if it helps remember that God loves you very much and his son shed his blood publicly to make sure you are free and happy- so don't let the enemy win, when you are unhappy and negative he is winning. If not for yourself at least to make sure he is not happy concerning you, stay positive cos whenever you are positive he is like a mad man roaming about in anger. So upset the enemy today, lolz. Halleluya-...

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FINANCIAL ACC 101

BANK RECONCILIATION STATEMENT CONTD Hey Everyone, Happy New Wednesday. Hope your week is going well, i hope you all are having fun???. This week shall be a week of Good news for all of you in Jesus Name- Amen. Am working on something New and Exciting and when am done y'all will know. LOLZ. I pray that God's will for your Lives come true and that you are not disappointed when you learn of it. I know that sometimes things might not turn out the way you have planned, but at the end you will be able to testify by yourself that God has been good...

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FINANCIAL ACC 101

BANK RECONCILIATION STATEMENT Hello Readers, Happy Wednesday to you all. How has your week been so far? It is well with all of you in Jesus name-Amen. Today you will hear Good news in Jesus name-Amen. Okay, so let's get started on our topic for today.... Bank Statement is a book prepared periodically and sent by a Bank to its Account holders, showing the transactions between the customer and the bank within a period of time. It shows a summary of the interactions between the Bank, its customer (the account holder) and others- it can be...

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FINANCIAL ACC 101

TRIAL BALANCE QUESTION Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week and we are taking one more question on this topic to be more grounded in it. Let's get started.... ILLUSTRATION 2: Enter the Transactions in the books of the following details for the month of January and extract the Trial Balance as at 31st June 1996. Jan 1- Started Business with N7, 000 in cash. Jan 2- Paid N3, 500 of the opening cash into bank account. Jan 3- Bought goods...

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FINANCIAL ACC 101

TRIAL BALANCE Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. Let's Get Started..... Trial Balance is a statement showing a list of balance in a double entry form, extracted from the Ledger to show the arithmetic accuracy of the account. The Trial Balance is drawn up at a given date after all the posting have been made in the ledger. The Techniques ensure...

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FINANCIAL ACC 101

BALANCING OF LEDGER ACCOUNT Hello Readers, How are you all today? It's Beautiful to be here with y'all doing this now and being a source of help to you all. I thank God everyday for meeting you all and being able to write to you and generally interact with you all. HAPPY CHILDREN'S DAY Y'ALL. Let's Get Started..... Before the preparation of Trial Balance, the account must be balanced off at regular intervals during the financial year, it is necessary to balance each account, in order to ascertain the overall position recorded in the book...

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FINANCIAL ACC 101

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FINANCIAL ACC 101

ANOTHER PETTY CASHBOOK ILLUSTRATION Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week. Let's get started.... ILLUSTRATION 2: The Following is a summary of the Petty Cash Transactions of Mr. Shola Ltd for October 1990. Oct 1- Received from Cashier N1600 Oct 2- Petrol N70 Oct 3- Postages N90 Oct 4- Travelling N60 Oct 5- Postages N25 Oct 6- Petrol N110       Oct 7- Travelling N85 Oct 8- Cleaning N90 Oct 9- Stationery...

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FINANCIAL ACC 101

PETTY CASH BOOK Hey Guys, It's a New Day again, hope your day yesterday was awesome cos mine was.  Well for today we are beginning this course afresh like the others we are revisiting what we have treated in order to better digest it. Petty Cashbook is the book for recording small expenses. The rational behind the system is to reduce the numerous cash payments for small expenses. Example- Postage, Stationery, etc. The System for recording petty cash transactions is called Imprest System. In this system, a specific amount is given to...

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FINANCIAL ACC 101

ANSWERS TO PREVIOUSLY ASKED QUESTIONS ON PREVIOUSLY TREATED TOPICS HAPPY NEW MONTH Everyone, Welcome to the month of May-a month of Success, Breakthrough, Answered Prayers, Fulfilled Wishes, Joy, Love, Peace and all other good things for you and everyone around you in the Mighty name of Jesus- Amen. You are Blessed and highly Lifted, this month shall see signs and wonders being a reality in every facet of your life. God is right beside you and he is saying to you this morning that all will be well, all secret tears would be wiped away and...

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