FINANCIAL ACC 101

QUESTIONS ON PREVIOUSLY TREATED TOPICS

Hey Everyone, How is this week so far. We are continuing this series we started last week, reviewing all the topics we have treated by answering questions linked to the Topics we have treated. This will help us further understand these topics and if possible be guru's at them. So Pls Enjoy...

QUESTION 2:                  

The following Transactions were extracted from the book of Mercy Land Trading Company as at 31st January 2005. All payments were made by cheque and all receipts were paid to the bank. The Company maintains a float of N 21, 000.

2nd Jan  Cash at Eagle Bank                         20, 000

2nd Jan  Petty Cash in Hand                          1, 400

3rd Jan  Drew Cheque for Petty Cash          19, 600

5th Jan  Received from Anthony, Cheque in Settlement of his debt N32, 600 less 1% discount

6th Jan  Settled Tunde's Account of N 25, 900 less 10% discount

7th Jan  Sold for cash 20MTN Cards at N750 per card

8th Jan  Transferred to current account from deposit account     70, 000

10th Jan  Paid Olu                                            4, 800

16th Jan   Paid Cheque for Motor repairs   8, 000

17th Jan   Paid Ade                                          3, 800

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COMMERCE 101

MODERN TRENDS IN RETAILING

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. It's the First week of April by the way, how cool is that?

New Trends have been introduced in Retailing Business because of the dynamic nature of commercial activities. In order to enhance and facilitate Business Activities, New Ideas and Techniques have been introduced and they include:

a. Branding

b. Self Service

c. After Service

d. Vending Machine

e. Pre-Packaging

f. Personal Selling.

BRANDING

It is a Name, Design or Symbol and even sometimes a Colour Pattern that differentiates a particular product from the rest in the market. It is a Product's Unique Selling Point, that extra thing it has to

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ECONS 101

FACTORS OF PRODUCTION CONTD

Hi Everyone, How Beautiful is today? Magnificent isn't it, well I think so too. Just being alive is such a pleasure and a privilege that sometimes, I think of some great people who have died and I am filled with awe that God picked me to live till today. God is Good.

Last time we started this series and today hopefully we will either finish or draw closer to the close of this particular topic so let's take this ride together.

CAPITAL

Capital may be defined as man-made assets used in production. In other words, It refers to Man-made wealth or goods used to produce other goods and services. It may also be defined as the stock of previous wealth invested in order to produce future wealth.

Capital when properly combined with other factors, produces goods and services. Examples of Capital include Physical Cash, Cutlass, Machines, Buildings, Motor Vehicles and other equipment used in the production of goods and services. The Reward for Capital is INTEREST.

Characteristics/Features of Capital:

* Capital is man-made before it can be used in further production of goods and services.

* Capital is durable assets that can be used for production.

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