Category: Book Keeping Study Notes

Definition Is the cash book which used to record small expenses/expenditure which take place from time to time within the business.ORIs the book which used to record...

   DEPRECIATIAON                 Definition. Is the decrease in value of assets or is the fall of value of Assets. What factors causes Depreciation. 1)     Physical deterioration or...

TRIAL BALANCECan be defined as statement showing a list of debt (DR) and credit (CR) balances of account extracted from the ledger to check arithmetical accuracy of...

Partnership may be defined as relationship between persons carrying on a business in common with a view of profit. In a business partnership two or more persons...

JOURNALS Journal is French word meaning “Daily Record”.              It is used to record transactions at first before the businessman forget the exact details to post into respective...

YEAR END ADJUSTMENT Principles of Book keeping requires that all transactions made should be recorded at the time made should be recorded at the time made regardless...

THE PROVISION FOR DEPRECIATION  SPECIMEN QUESTION On 1st January 1998 a company purchased a motor van of cost of Tshs 160,000. It was decided on that date...

    Is the composite activities of analyzing, summarizing, reporting and

           When entries are made in the books of accounts, some wrong posting or calculation are possible and these are known as   ERRORS. These errors are...

CAPITAL EXPENDITURE Is made when a firm spends money either to buy fixed asset or to add the value of existing fixedasset with a useful life extending...