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Accounting Question

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  • 16-05-2005 6:07pm
    #1
    chickens
    Closed Accounts Posts: 165 ✭✭


    I am sorry if this is basic question.

    I am calculating revenus in club account, i do list of assest against liabilities, yes? I wonder do I put in the issued of authorised capital? I not sure, I think you no put in both because issued is count in authorised yet you not have authorised, so maybe it due? i coufused.

    Also one thing, I do question now, it question with nursing home and shop. There are shop creditors on 1/1 and "creditors for supplies" on 31/12. Are they both shop or could home have supplys? (there are purchases for both).

    Thanks you.


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    #2
    Da_IRISH_ONE4U
    Closed Accounts Posts: 95 ✭✭Da_IRISH_ONE4U


    chickens wrote:
    I am sorry if this is basic question.

    I am calculating revenus in club account, i do list of assest against liabilities, yes? I wonder do I put in the issued of authorised capital? I not sure, I think you no put in both because issued is count in authorised yet you not have authorised, so maybe it due? i coufused.

    Also one thing, I do question now, it question with nursing home and shop. There are shop creditors on 1/1 and "creditors for supplies" on 31/12. Are they both shop or could home have supplys? (there are purchases for both).

    Thanks you.


    Those aren't Club Account questions your doing... they are Service Firm a/c's! You do not put in the authorised capital just the Issued Capital. Shop creditors on 1/1 is for the shop, cant actually remember whether the other is or not.


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    #3
    chickens
    Closed Accounts Posts: 165 ✭✭chickens


    Thank you. Services firms? Ah, the chapter have to headings, I not know difference.

    Thank you fro help, accounting very confusing when you not know and then when you told it seem so clear!


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    #4
    Da_IRISH_ONE4U
    Closed Accounts Posts: 95 ✭✭Da_IRISH_ONE4U


    no problem. There is any easy enough way to tell the difference. Your always asked for Reserves in the Service Firms, but for the Accumulated Fund in the Club Account.


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    #5
    chickens
    Closed Accounts Posts: 165 ✭✭chickens


    Oh!! That good idea! They seem very same, even the adjustments are similar! Thank you.


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    #6
    nobodythere
    Closed Accounts Posts: 2,349 ✭✭✭nobodythere


    Hehe, you buy you buy:P

    In the exam it will say it at the top of the question


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    #7
    Da_IRISH_ONE4U
    Closed Accounts Posts: 95 ✭✭Da_IRISH_ONE4U


    Im hoping for an A in the oul accounting... Without it ill be a repeat next year!


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