Meaning: The two column Cash book so-called because for both debit and credit entries, it has two columns, one for recording cash transactions and the other for bank transactions. It is therefore used for recording mixed cash and bank transaction. Accounting Entries All payments in cash are recorded by crediting the cash column of the […]
DOUBLE COLUMN CASH BOOK Read More »
Definition of Shares Shares can be defined as units of capital of ownership of a limited company. It is an ownership right in a company. A company cannot commence business until it raises capital by selling shares to the public for subscription. CLASSES OF SHARES There are three classes of shares in a limited liability
Meaning To dissolve a partnership means to bring an existing partnership business to an end. This entails selling the assets of the business, paying its creditors and other liabilities and sharing the balance of cash left between or among the partners in the agreed ratio. Reasons for Dissolution Any of the following reasons can lead
DISSOLUTION OF PARTNERSHIP Read More »