*Watch this example on Clubs and Societies to get complete clarity on concepts:* kzitem.info/news/bejne/zqiZl6WssIqpZaQ
@lanutella5421
Жыл бұрын
tq bro, u are definitely my savior, my result had slowly climb from fail to almost an A by watching ur vids, wish that i can score an A+ after continuous practice in coming IG exam
@band1t9999
3 жыл бұрын
thank you so much for making all the videos on youtube for free, I started watching your videos on accruals and prepayment and now I am learning chapter 18 which is clubs and societies, watching your video and learned help me got 92 in my exam !!!!! thanks alot and keep up with the videos
@EdexWorld
3 жыл бұрын
Glad you like them and they made a difference :)
@JasminIbrahim-l6q
5 ай бұрын
thank you so much posting these videos on youtube for free, you are a savior. I am trying to revise before my igcse and your videos have been so helpful, thank you🙏🙏
@MeiZiyan-m7t
3 ай бұрын
you saved my world
@nanjeebasdiaries5784
3 ай бұрын
Extremely helpful video!
@classiccatastrophe1518
3 жыл бұрын
Thank you so much lalith advani sir I passed my ba3 exam just by watching your tutorials thanks a lot
@EdexWorld
3 жыл бұрын
Glad to hear that
@ari6316
Жыл бұрын
thank you so much edex world!
@jailnet
4 жыл бұрын
Thanks alot, please show us examples as this would be appreciated. Thanks
@EdexWorld
3 жыл бұрын
Please watch this solved example: kzitem.info/news/bejne/zqiZl6WssIqpZaQ
@amahlemdluli6026
4 жыл бұрын
thank you
@jailnet
3 жыл бұрын
How do i calculate the opening accumulated funds (surplus given and closing accumulated funds not given) for the balance sheet???
@EdexWorld
3 жыл бұрын
Opening accumulated fund will be = Opening assets - Opening liabilities
@HussainAhmed-un2cw
Жыл бұрын
Aoa sir , will the bad debts of subscription come in the expenditure section ?
@EdexWorld
Жыл бұрын
Yes
@dilshachudasama2074
3 жыл бұрын
can you share solved examples of this topic it would be great as well the MCQ questions which will help scoring more marks in the final board exams FEB/March 2021
@EdexWorld
3 жыл бұрын
Hey, yes I have done an example on this topic already, please follow this link: kzitem.info/news/bejne/zqiZl6WssIqpZaQ
@caramelpopcorn6649
3 жыл бұрын
best of luck for tomorrow's paper 2 :)
@DaiGua
2 жыл бұрын
Does subscription account is credit nature? Why opening balance(prepaid) is on right side, but with the header of “Payments” 14:47
@EdexWorld
2 жыл бұрын
yes. its an income, so credit balance. because prepaid subscription (income) is a liability. so balance brought down on credit side.
@DaiGua
2 жыл бұрын
@@EdexWorld Wow,ic. Thank you😭
@vineshlogeswaran4662
3 жыл бұрын
I have a question. Do we need to make adjustments for accruals and prepayments when making a statement of financial position for clubs and societies?
@EdexWorld
3 жыл бұрын
Yes you will have to, because their income and expenditure account and sofp are also prepared on accruals concept. Just the receipt and payment account is prepared on cash basis.
@laylasaleh7984
4 жыл бұрын
Please show us an example :)
@EdexWorld
4 жыл бұрын
Will do it soon
@spexify1674
2 жыл бұрын
5:41 how did u get c/d of 10800 can u tell the steps sir because i used the closing balance equation iam getting an error
@EdexWorld
2 жыл бұрын
Total on debit side = 40500 and that on credit side = 29700. so debit balance = 40500-29700 = 10800.
@amnamuhammadkhalid8108
3 жыл бұрын
Thank you so much, will bank/credit transactions be recorded in receipt and payment account, like a purchase of equipment on credit?
@EdexWorld
3 жыл бұрын
No, receipt and payment account only records actual receipts and payments. so credit transactions shall be excluded.
@amnamuhammadkhalid8108
3 жыл бұрын
@@EdexWorld Thank you.
@disconnected9799
3 жыл бұрын
Hello, I would like to know what to do if for example Annual subscription was $100 till July of a particular year and from the next month there was an increase in the subscription to $150. In that case, should I calculate the subscription based on the old amount or the new amount (Income and expenditure account on the debit side=50 members X ?)?
@EdexWorld
3 жыл бұрын
So from Jan to July is 7 months and August to December is 5.months. so total subscriptions transferred to income and expenditure will be based on the number of months = 100*7 + 150*5 = 1450.
@disconnected9799
3 жыл бұрын
@@EdexWorld Thank you for the clarification.. Can u pls also clarify this doubt The annual subscription was $40 until 30 September 2015 when it was raised to $45. There were 150 members at 1 October 2015. At that date, 15 of them had not paid their subscriptions for the year ended 30 sept. 2015 and 12 had already paid their subscriptions for the year ended 30 sept. 2016. At 30 sept. 2016, all members had paid their due subscriptions, and some had paid in advance for the year ending 30 sept 2017, but the treasurer had not yet calculated how many. prepare the club subscription account for the year ended 30 Sept. 2016. Can u pls tell me how much will be transferred to the income & exp
@EdexWorld
3 жыл бұрын
(12*40)+(138*45) = $6690
@disconnected9799
3 жыл бұрын
@@EdexWorld thank u!!! really helpful!!
@amenaqayoom7439
3 жыл бұрын
Shop wages should be added to Trading account of shop when calculating Gross profit ??
@EdexWorld
3 жыл бұрын
That presentation is also acceptable. Wages can be shown before calculation of gross profit or after gross profit. The final profit of the shop is unaffected.
@amenaqayoom7439
3 жыл бұрын
@@EdexWorld in one of the Past papers,they have taken in shops trading account as well as in I&E account Is this correct??
@EdexWorld
3 жыл бұрын
No, thats not right. Please share the paper number and question number.
@amenaqayoom7439
3 жыл бұрын
@@EdexWorld sorry it was taken in Receipts and Payments Account 0452/23/M/J/17
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