COMMERCE 101

MONEY Hey Readers, How you doing y'all? lolz- how are you, your family, school, friends, even those people you don't like too much... I pray God brings Matchless Peace and Love your way and to everyone you are related to in Jesus Mighty Name- Amen. Today we are talking about the most wanted thing in the world-Money!!!. Lolz- Let's Begin.... Money can be defined as any medium of exchange which is generally accepted by the people, in payment for goods and services or settlement of debt and at the same time as a measure or stock of value. Trade...

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ECONS 101

SHARES 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..... Shares can be defined as the individual portion of the company's capital owned by shareholders. It is the interest which a Shareholder has in a company. In other words, share is a unit of capital measured by a sum of money. The Company Act defines a Share as "The Interest...

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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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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...

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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...

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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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COMMERCE 101

SOLE PROPRIETORSHIP Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. so let's get started....  A Sole Proprietorship may be defined as a business organisation established, owned, financed and controlled by one person with the arms of making profit. This form of business unit is one of the oldest type of business organisation owned by individuals. In other words, it is a type of business unit in which one person provide the capital, bear the risk and takes full responsibilities of...

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ECONS 101

PRIVATE LIMITED LIABILITY COMPANIES 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 Private Limited Liability Company is defined as one which by its articles restricts the rights to transfer its shares, limits the number of its shareholders from two to fifty, prohibits any invitation to the public to subscribe for its shares,...

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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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COMMERCE 101

DOCUMENTS INVOLVED IN TRANSPORTATION Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. so let's get started.... 1. Consignment Note: is a document that prove that goods have been delivered. It is sent by the consignor through the carrier to the consignee to sign in evidence that the goods are in order. 2. Certificate of Insurance: is a document which shows that the goods have been insured against risks or loss by the exporter. 3. Airways Bill: is a document used to transport goods by...

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ECONS 101

LIMITED LIABILITY COMPANY CONTD 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.....   Formation of a Limited Liability Company: The Steps involved in the formation of a Limited Liability Company (Whether Private or Public) are as follows: Step 1- The Promoter devises a scheme of Capitalization, bearing in mind the cost of Formation,...

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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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COMMERCE 101

MEANS/METHODS OF TRANSPORTATION 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.... There are four major forms of Transport namely: 1. LAND TRANSPORT  This means of Transportation is very good for trading within a country. It is a means of conveying goods and passengers from one place to another through land. Land Transport can be divided into: Road and Rail Transport. a. Road Transport is the most extensively used,...

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