f EDU-MADE-EASY BLOG

Education is an ornament in prosperity and a refuge in adversity.

It is as impossible to withhold education from the receptive mind as it is impossible to force it upon the unreasoning. - Agnes Repplierg

Education aims to give you a boost up the ladder of knowledge.

Educating the mind without educating the heart is no education at all. - Aristotle

He who opens a school door, closes a prison.

If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest. - Ben Franklin

To the uneducated, an A is just three sticks.

To teach a man how he may learn to grow independently, and for himself, is perhaps the greatest service that one man can do another.

If you think education is expensive, try ignorance.

Education is what remains after one has forgotten what one has learned in school.

COMMERCE 101.



        REVISION OF ALL TOPICS IN COMMERCE 101.

Hey Guys, Today we begin with a recap of all we have ever discussed in COMMERCE 101. Just to remind ourselves and to be sure we understood them well.
So we begin with INTRODUCTION TO COMMERCE. Here we defined Commerce as all that concerns Production, Distribution, Exchange of Goods & Services, and the activities that makes trade possible. In other words, we defined commerce as an activity that deals with Trade and the Aids-to-Trade.
SCOPES OF COMMERCE, we said are divided into 2: Trade & Aids-to-Trade.
TRADE is the buying and selling of goods and services and can be divided into 2: Home Trade & Foreign Trade.


Home Trade is the buying and selling of goods and services that takes place within a country, and is divided into: Wholesale & Retail Trade.

Foreign Trade is the buying and selling of goods and services between two or more countries. Under it we have- Bilateral Trade and Multilateral Trade.
Remember we defined Wholesale Trade as the trading that involves the exchange of

AM BACK.





WOOOW. I SHOULD DEFINITELY START WITH HAPPY NEW YEAR !!!!. I KNOW ITS WAY TOO LATE FOR IT BUT WELCOME TO 2014....

SO MANY THINGS HAPPENED THAT STOPPED ME FROM BLOGGING. I GOT INTO UNIVERSITY AND HAD TO WORK EXTRA HARD, AND SOOOOO MANY OTHER WONDERFUL THINGS.

SO LET ME REAFFIRM MY COMMITTMENT TO THIS BLOG AND TO YOU THE READERS OF THIS BLOG, I AND MY FELLOW CO-AUTHORS ARE COMMITTED TO YOU GUYS AND ARE GRATEFUL FOR YOUR LOVE, SUPPORT, LOYALTY AND PATIENCE SO FAR..

WE HOWEVER NEED YOUR PRAYERS AND COMMENTS TO GIVE US THE STRENGTH TO GO ON...

SO WITH ALL THAT HAS BEEN SAID, WELCOME TO EDU-MADE-EASY 2014.... I PRAY IT IS MORE FUN AND MORE INFORMATIVE FOR YOU....

SO SEE YA, LOVE YOU ALL..... PEACE

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....!!

NEW

Hi friends am happy to be part of this wonderful blog. Happy Blogging...........!!!!!!!!!!!

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

FINANCIAL ACCOUNT 101.

                 TWO COLUMN CASHBOOK.


Hey Guys, Happy Wednesday. It’s a new day to live and learn, and we are continuing our previous topic on Cashbook. So sit back, relax and gain knowledge today.
Two Column Cashbook is a combination of the Cash Account and Bank Account for the sake of convenience. There are separate columns for Date, Particulars, Folio, Cash and Bank on both the Debit and Credit sides.
Cash Column: contains cash receipts and payments.
Bank Column: contains all payments made by cheque and money received and paid into the Bank.
Contra Entries: are entries made in the cashbook when cash is deposited into the bank account out of cash in hand or when cash is withdrawn from the bank for office use.
Cash paid into the Bank: when there is surplus of cash in hand, the firm can pay it into the bank. Cash balance will decrease and Bank balance will increase.
Cash Column will be credited, Bank Column will be debited. There must be a letter “C” put in the folio column of both sides to signify that it’s a contra entry.
For Example:  Cash received of N500 was paid into the Bank.
Dr                                          Cash Book.                                          Cr
Date    Particulars  F Cash  Bank  Date  Particulars  F   Cash    Bank
Jan 1    Cash          c            500    Jan 1    Bank      c    500
Withdrawal from Bank: when there is shortage of cash in hand, money can be withdrawn from Bank. Bank balance decreases while Cash balance increases.
Bank Column will be credited while Cash Column will be debited and also a “C” will be put in the

FINANCIAL ACCOUNT 101.

PRINCIPAL OF DOUBLE ENTRY- SINGLE COLUMN.


Hey Guys, Happy Monday!!! Hope you enjoyed your weekend, cos I did. Any way its Monday again and we are here to learn something new. So let’s get started.
LEDGER is the final destination of all transactions in the subsidiary books (that is the sales day book, purchases day book etc). It is the most important book of account because it is the book that contains permanent records of all Transactions in a summarized and classified form. Transactions are recorded here, using the Double Entry System of Bookeeping.
RULES OF DOUBLE ENTRIES:
1.     For Every Credit Entry in an Account, there must be a Corresponding Debit Entry in another Account.
2.     For Every Debit Entry in an Account, there must be a Corresponding Credit Entry in another Account.
3.     All Transactions must be Credit and the other.
DIVISION OF LEDGER:
1.     Personal Ledger:  These are ledgers for Creditors Account and Debtors Accounts. For example, Purchases and Sales Ledger.
2.     General Ledger:  These are ledgers for Real and Nominal Accounts. For example, Expenses Account, Income Account, Sales Account, Purchases Account and Assets Account.
3.     Private Ledger:  These are Ledgers for Capital and Drawings Account of the Owner. The Book is divided into separate sections called Accounts, which may have one page or more. The Main Advantage of subdivision is to permit the clerks to attend concurrently to the various groups of