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 to you. Well am not a Preacher oooo. LMAO but i just felt the need to say a few words of encouragement to any of you that might be going through something rough right now. I know cos i have been there and it's not easy but be STRONG!!!.

ILLUSTRATION OF METHOD B:

On 30th November 1993, Olukunmi and Sons Cash book showed a debit balance of N3, 500 whereas the Bank Statement showed a Balance of N2, 325. On Investigation the following items were discovered to have caused the discrepancy.

a. The Bank had made Charges of N310 which had not been entered in the Cash book.

b. A Cheque received for N2, 000 entered in the cash book had not been entered by the Bank until December 3rd 1993.

c. A Standing Order for subscription of N150 had been entered in the Bank Statement as paid

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COMMERCE 101

PARTNERSHIP

Hello Peepz, Hows Life? HOW ARE YOU???. Be more positive and more thankful because they are alot of people all over the world that would die to have what you have or kill to be you- so you are a STAR to someone somewhere JUST D WAY U ARE. Yes YOU!!!!. It Is Well with You in Jesus Name-Amen. Okay, Let's get straight to work!!!!.

Partnership is a relationship that exists when two or more persons contribute skills or money in order to establish, own and manage business activities, with the aim of making profit. Partnership is formed by two to twenty persons but in banking the maximum number of partners is 10.

Characteristics of Partnership:

# The Partners are Liable for the Total of the Business without Limits. The Partners will lose their investment as well as private properties in event of liquidity.

# In Partnership Business, no special formalities are necessary but written agreement may be needed.

# Partnership is owned by two to twenty persons or two to ten persons in banking sector.

# Every Partner is an agent of the business and every act of a Partner done in carrying out of

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ECONS 101

PUBLIC LIMITED LIABILITY COMPANY/ JOINT STOCK COMPANY

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.....

A Public Limited Liability Company is defined as one which by its articles allows the public to subscribe for its shares, must have a minimum of 7 persons but no maximum number. It allows the shares to be transferred and the name of the public limited company must end with the abbreviation "plc".

Public meaning that any member of the public is free to purchase shares in the business when shares are advertised for sale. Public limited company is usually owned by private individuals and organizations.

Public Limited Liability Companies or Joint Stock Companies are organisations which have separate legal entity. It is regarded in law as having an identity of its own. The Shareholders are not personally responsible for anything that is done in the name of the organisation. The shareholders also enjoy the advantage of a large number of people who through the purchase of shares become owners of the company. For Example- First Bank Plc, Texaco Nig. Plc etc.

FEATURES/CHARACTERISTICS OF PUBLIC LIMITED LIABILITY COMPANY:

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