Brandywine Homecare Essay

1. Construct a Brandywine’s Income Statement.  This income statement summarizes the company’s performance during 2007. It reflects how much money the company brought in as revenues, how much spent on expenses, and the difference between the two is the net income profit. All figures above are in terms of millions. Excel rounded the depreciation value which was 1.5 to 2 and net income of 1.5 to 2 as well which gave total expense of 11 which is actually 10.5 million. I will attempt to explain the major components of this Income Statement. Revenue is the first major component. The primary goal of a not-for-profit corporation is financial viability which is generally given in a mission statement in terms of service to the community (Gapenski, 2008). Because most not-for-profit establishments follow a tedious set of requirements, they usually have a tax-exempt status and can accept and or issue tax-exempt bonds (Gapenski, 2008). Revenues usually represent sales, but because there isn’t any clientele or shareholders, revenues must be re-invested into the company. In this case, revenues can be represented by donations, cash received, payer obligation, net patient service, interest earned on investments, and or rental income. Expenses would be the second component of my income statement. It is simply the cost of doing business. A company has to spend money in order to make money (Gapenski, 2008). Some examples of Brandywine expenses could include cost of sales such as utilities, buildings, salaries, labor, maintenance, administration expense, and depreciation and amortization. Net income is the last, but certainly not least. It is what is left after all expenses have been accounted for (Gapenski, 2008). It is often referred to as a company’s bottom line (Gapenski, 2008). Again, being that this is a not-for-profit establishment, all profits have to be re-invested into the corporation. 2. What are Brandywine’s 2007 net income, total profit margin, and cash flow? To interpret the income statement, revenues for 2007 were 12 million. Expenses other than depreciation totaled 75% of total revenues which is 9 million. Showing my work, I know that revenue minus total expenses equals net profit. To get the expense amount, I simply multiplied 75%*12 million to get 9 million plus 1.5 million of depreciation equaled 10.5 million of total expenses. Now, I subtract 10.5 million from 12 million of total revenue to get a net profit of 1.5 million. The equation for profit margin is net income of 1.5 million divided by 12 million of total revenues equal 0.125 * 100% equal 12.5 % profit margin. Cash flow equals net income of 1.5 million plus non cash expenses or depreciation of 1.5 million totals 3 million. Depreciation has to be added back to get cash flow even though there is no cash value (Gapenski, 2008). 3. Supposed the company changed its depreciation calculations such that its depreciation expensed doubled. How would this change affect Brandywine’s net income, total profit margin, and cash flow? If we doubled the depreciation amount, it would give us 3 million. Recall that the equation for net income is total revenue minus total expenses, so we subtract total expenses of 12 million from 12 million of total revenues leaving a 0 net profit. We would experience a big difference of 1.5 million of net profit if the depreciation value doubled. For the profit margin, the equation is net profit of 0 divided by 12 million of total revenue is 0 % profit margin. Note that we have gone from a 12.5 % profit margin to 0%. Cash flow is net income plus non cash or depreciation value, so we add 0 plus 3 million to give us a cash flow of 3 million which is no change from initial figure. 4. Explain the difference between cash and accrual accounting. Be sure to include a discussion of the revenue recognition and matching principles. According to Gapenski 2008, the cash method is the process by which an economic event is recognized when a cash transaction actually takes place. It is considered simple and easy to use. Some might want to use this method when just starting a small business. Cash accounting does a good job of tracking cash flow, but does a poor job of matching revenues earned with monies laid out for expenses (Epstein, 2011). The accrual method is recognized when an obligation is created. This method is considered more complicated, yet it provides a better picture of true economic status of a business. Most would say that this is the preferred method according to generally applied accounting principles (Gapenski, 2008). It has two key components such as the revenue recognition that requires that revenues be recognized in the period in which it was earned while the matching principle requires that an organization’s expenses be matched with revenues in which it is connected to. One might want to use this principle once a small business has gotten on its feet. The accrual method does a good job of matching revenues and expenses, but it does a poor job of tracking cash (Epstein, 2011). Because you record revenue when the transaction occurs and not when you collect the cash, your income statement can look profitable even if you don’t have cash in the bank (Epstein, 2011). 5. Explain the difference between equity section of a not for profit business and an investor-owned business. According to Gapenski 2008, the financial statements of investor- owned and not-for-profit firms are similar except for transactions such as tax payments that are applicable only to one form of ownership. They both strive to increase assets and decrease debts and other liabilities; however, the difference lies within the line of business (Gapenski, 2008). One difference in the balance sheets of a not-for-profit organization and a for-profit business is the name or title shown in its heading. In a nonprofit, the name of this financial statement is the statement of financial position. In the for-profit business this financial statement is the balance sheet (Accounting Coach, 2011). Another difference is the section that presents the difference between the total assets and total liabilities. The nonprofit’s statement of financial position refers to this section as net assets, whereas the for-profit business will refer to this section as owner’s equity or stockholders’ equity (Accounting Coach, 2011). The two types of equity shown on a business balance sheet are retained earnings and new stock sales whereas on a not-for-profit financial statement there can be retained earnings, but it can’t sale common stock to raise funds (Small Business, 2011). Non profit establishments raise funds through grants and donations for specific causes such as needs, healthcare, and education (Ramjee, 1999). Assets for investor-owned firms include furniture, computers, equipment, investments and security deposits; however, a not-for-profit organization’s assets are not as complex (Ramjee, 1999).

Reading skills Essay

Q1: Explain 5 strategies that a teaching assistant might use to support literacy development. The teaching assistant could read to the pupils on a daily basis, this will help pupils learn how fluent reading sounds and this will help them understand how sentences and text can make sense, and will learn when to pause for full stops, question marks etc, and they will also learn how using expression in reading can make a story more exciting and understandable. The teaching assistant can have one to one sessions with a pupil, getting them to read certain passages aloud from a story and then getting them to repeat the passage, this will help with word recognition, and their speed and accuracy will improve the more they are asked to do this. Games or structured computer games where there is some reading can also be used to help with literacy skills, the teaching assistant can play games with a group of pupils, appropriate age related games with simple instructions can be a good learning resource. Building a child’s vocabulary is very important to a pupil learning to read, write and being able to express themselves, a pupils vocabulary will grow if they are in a rich language environment, this will help them when they try more challenging text, so they teaching assistant can help by talking to the pupil and asking if they understand the words and if not explaining what they mean, which will help them learn more words. The teaching assistant could in a group have a reading session, where each pupil could try to guess what will happen next from the line they have just read, this will help to see if any of the pupils do not understand any of the text, the teaching assistant can then help explain any parts that are not understood which will then help the pupil in the future to understand that type of text. Q2: outline the stages of reading development skills. Early emergent readers: these readers are just beginning to understand the concepts of books, they are learning the alphabet and maybe recognise upper and lowercase letters. They are also learning high frequency words and sound words, books in this level include: repeated words, picture support and content that will be very familiar. Emergent readers: these readers understand the alphabet, they also know a lot of high frequency words and they are also grasping how to attack words they don’t know better, books in this level include: more lines per page, harder words in the sentences and less picture support. Early fluent readers: these readers are reading harder text and have more of an understanding of the text, they read more automatically rather than trying to attack the word, they are able to recognise different styles and genres of books and understand what is being read, they are becoming independent in their reading and require a lot less help, books in this level include: books with a lot more pages and much longer sentences, and a lot less pictures to help with their reading and understanding. Fluent readers: these readers rarely need help with any text, they can pause at the correct time, they can also have expression when reading out loud, they are able to read many genres of books and understand what they are reading, and they are able to keep learning reading skills if they read a harder book, they are no longer learning to read, they are reading to learn, books in this stage include: more varied topics, a lot more text and pages, books with no pictures as they are capable of understanding the text without visual references and a lot more challenging vocabulary. Q3: describe the main methods used to teach reading skills There are three main methods that can be combined to teach reading skills, they are: Auditory training, this is where an adult talks, sings and reads to their child, this will put language and sound into the child’s brain, the more they hear the bigger their vocabulary will be, which will help them to learn to read when they are ready to, playing and singing rhyming games will all help the child with learning to read. Phonics: this is the most known and used method to teach reading skills, phonics teaches children the relationship between letters of the written language and the sounds of the spoken language, it teaches children to use these relationships to read and write. This will teach them the alphabet and how these words are written and spoken which will be predictable, this will help them recognise familiar words and help them with harder ones. They are taught to sound out words by learning certain rules that they will memorise, some of these are: blending sounds such as br, fr, wr and bl among others, digraph sounds such as sh, th these letters combine to make a different sound, double vowel sounds. Phonics will start to be taught in nursery or reception and a child will not be able to learn to read without proper understanding of phonics. Whole language: this is a whole-part method of teaching children to read, children are taught to memorise words as one whole word not as parts or broken down, they can do different activities like writing in journals and using pictures to help memorise the words. Children can begin to write early using this method and it can make reading more interesting, but the only problem with this method is that some children may not be able to use phonics and may find it harder to learn new words without the understanding of phonics. Q4: give 5 examples of how a teaching assistant could support and demonstrate writing and spelling skills 1. Get children to discover how different sounds can be written, this can be done by reading books or rhymes that they know and asking the children to listen out for words with a particular sound, for example words with a T sound, words like bite, height, light. They can then be helped to find these letters that make that sound by finding them and circling or underlining them in any book. 2. Choosing words that the children know from a song, poem or book they can learn how a word they know can help them to write new words just by changing the beginning letter, for example the teaching assistant can write words that sound the same but have different beginning letters and then ask the children if they can think of any other words with the same sound that can be added, the examples could be: hat, cat, mat. This can help with phonic awareness which is vital in writing and spelling skills. 3. Correct letter formation is the start of learning to write and develop writing skills, there are many ways a teaching assistant can support a child in this, a couple of examples are: get the child to say out loud how they are writing the letter like a ’round , up and down’, p’ down, up and around’ . The teaching assistant can make some dot to dots of the correct letter formation. 4. Teaching children about different spelling patterns, the teaching assistant and child could look through a book they know and look for spelling patterns, looking for ones that have been chosen like ea, words like: break, treat, bread and lead, the child could then mark the words they find and say them out loud as they find them. 5. The teaching assistant can help children learn how to use a dictionary to help them spell a word they are unsure of, they need to teach them that words in a dictionary are in alphabetical order, so if they know the first letter then they can try to find the word they are looking for, the teaching assistant or teacher can make an individualised dictionary with words that are aimed at a particular level of writing and spelling stage, they could also leave spaces for children to write any words they have learned that are not in the dictionary they have got. Q5: How can a teaching assistant encourage learners to use speaking and listening skills correctly. The teaching assistant can encourage these skills by asking the child to write down what has just been said to them, this is a good way to make sure they are listening properly. Or to ask them to repeat something that is being said, for example another child could be telling a story or event that has happened and if the teaching assistant thinks that someone is not listening then they can ask them to repeat it. If a child does not understand anything that is being said then they should be encouraged to ask questions to help explain, this will show that they are listening to what is being said. Children can show they have listened when they can follow instructions properly and this can seen by asking them what they have to do, or when they make responses or comments to anything they are listening to. If they have watched a film or other type of programme they should be able to recount some or all of the story if they have listened, a group talk on certain subjects would be a good way to encourage speaking and listening skills, letting everyone have a say while all others listen but have some input or comment if they didn’t understand anything. Having a weekly time for any children to stand in front of the class and tell the class of anything they have done or somewhere they have been would be very good for speaking skills, the rest of the class should be encouraged to listen and to ask any questions at the end, if there are any children that are reluctant to speak in front of people, then trying to to encourage them in group discussions will hopefully help them to be more confident and eventually want to speak in front of everyone. Allowing children to have time to chat amongst themselves can also help develop these skills as they will learn to listen and speak at different times, and they should be encouraged not to ignore people because if they do no-one will want to talk to them.

Lcci Passport to Sucess Level 1 Book-Keeping Answer

Level 1 Book-keeping Solutions Booklet For further information contact us: Tel. +44 (0) 8707 202909 Email. [email  protected] com www. lcci. org. uk London Chamber of Commerce and Industry (LCCI) International Qualifications are provided by EDI, a leading international awarding body. Passport to Success Level 1 Book-keeping Solutions Booklet The initials LCCI and the words LONDON CHAMBER OF COMMERCE AND INDUSTRY are registered trademarks belonging to the London Chamber of Commerce and Industry and are used under licence.Every effort has been made to trace all copyright holders, but if any have been inadvertently overlooked the Publishers will be pleased to make the necessary arrangements at the first opportunity.  © EDI 2008 First published in 2008. All rights reserved. Apart from any use permitted under UK copyright law, no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or hel d within any information storage and retrieval system, without permission in writing from the publisher or under licence from the Copyright Licensing Agency Limited.Further details of such licences (for reprographic reproduction) may be obtained from the Copyright Licensing Agency Limited, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Cover photo: www. fotolia. com TABLE OF CONTENTS 1. 2. 3. 4. The Accounting Equation and the Balance Sheet Double entry system for assets, liabilities and capital Recording double entry for stock The double entry system for Expenses and Revenues and the Effect of Profit (or loss) and drawings upon capital 1 4 7 11 5. 6. 7. 8. 9.Balancing accounts and the Trial Balance Trading and Profit & Loss Accounts: An introduction The Balance Sheet Final Accounts with further considerations The Division of the Ledger and Books of Original Entry 16 25 28 31 38 39 41 44 48 53 56 59 62 68 71 75 77 81 82 10. Bank Facilities 11. Cash Books 12. The Sales and Purchases Day Books 13. The Returns Day Books 14. The Journal 15. The Petty Cash Imprest System 16. Adjusting for accruals and prepayments 17. Depreciation of Fixed Assets 18. Bad Debts 19. Bank Reconciliation Statements 20.Capital and Revenue Expenditure 21. Errors in the accounts and their corrections 22. Control Accounts 23. Final Accounts and year end adjustments Chapter 1 The Accounting Equation and the Balance Sheet Answers to ‘Think about it’ Questions Page 5 – Why are liabilities shown on the right hand side of the balance sheet and not on the left? Because based on the accounting equation it has to be on the same side as capital. Answers to Activities Activity 1. 1 (a) (b) (c) (d) L A A A (e) L (f) A (g) C Activity 1. 2 ASSETS ? 5 000 4 200 4 100 3 500 6 900 CAPITAL ? 000 2 500 2 800 2 400 4 100 LIABILITIES ? 2 000 1 700 1 300 1 100 2 800 (a) (b) (c) (d) (e) Solutions to Target Practice Questions Question 1 (a) (b) (c) (d) (e) (f) ‘†¦assets l ess liabilities equals capital’. assets liabilities debtor creditor Balance Sheet 1 Question 2 ASSETS ? 3 100 800 2 200 LIABILITIES ? Shop fittings Cash register Stock of goods Creditors Loan – T Armani Bank 1 000 1 800 870 6 970 2 800 Capital = Assets – Liabilities Capital = 6970 – 2800 = ? 4170 Question 3 M Williams Balance Sheet at 30 June 20X6 ?Cash at Bank Stock of goods Fixtures and Fitting Debtors Motor vehicles 2 614 5 860 1 900 3 750 4 200 18 324 Creditors Loan – D Wong Capital (missing item) ? 4 150 3 600 10 574 _____ 18 324 Question 4 Transactions (a) The owner borrows ? 5000 from L Pole and the money is put into the business’ bank account. A debtor pays the business ? 250 by cheque. The owner buys a motor vehicle on credit ? 6200. The owner withdraws ? 160 from the business’s bank account for his personal use. The business sells goods on credit for ? 840. The owner puts a further ? 000 in cash into the business. The money is put into the business’s bank account. The business pays a creditor ? 290 by cheque. Assets + Bank Effect upon Liabilities + Loan Capital (b) (c) (d) + Bank – Debtors + Motor Vehicle – Bank + Creditors – Capital (e) (f) – Stock + Debtors + Bank + Capital (g) – Bank – Creditors 2 Question 5 W Mandrake Balance Sheet at 30 June 20X5 ? 5 360 4 500 1 845 2 800 5 100 19 605 ? 2 900 3 000 13 705 _____ 19 605 Stock of goods Debtors Cash at Bank Fixtures and fittings Motor vehicles Creditors Loan – L Walter Capital (balancing figure)W Mandrake Balance Sheet at 31 July 20X5 ? Stock of goods Creditors (5360 + 700 – 600) 5 460 (2900 + 700 – 400) Debtors Loan – L Walter (4500 – 1100 + 600) 4 000 Capital Cash at Bank (balancing figure) (1845 – 400 + 1100) 2 545 Fixtures and Fittings 2 800 Motor Vehicles 5 100 19 905 ? 3 200 3 000 13 705 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 19 905 Question 6 D Duncan Balance Sheet at 21 January 20X7 ? 20 000 2 100 500 100 700 123 300 ______ 123 300 ? 120 000 3 300 Motor Vehicles Stock of goods (1500 + 600) Debtor – A Gianna Cash at Bank (101 000 – 300) Capital Creditor – Stax Suppliers (3000 + 600 – 300)Question 7 The difference between a cash transaction and a credit transaction is based on when payment is made. With a cash transaction, payment is made immediately for goods and/or services purchased while in a credit transaction payment is made 3 Chapter 2 Double Entry System for Assets, Liabilities and Capital Answers to ‘Think about it’ Questions Page 16 – Why is it necessary to keep separate accounts for each debtor and creditor? So it can clearly be seen how much is owed to individual creditors and how much is owed by individual debtors. Answers to ActivitiesActivity 2. 1 (a) Bought office furniture for cash (b) Sold some office furniture on credit to C Bing (c) Bought motor vehicles on credit from Wong Ltd (d) A debtor, P Butler, pays the business by cheque (e) The owner puts a further amount into the business by cheque (f) Returned one of the motor vehicles to Wong Ltd (g) Paid a creditor, T Bird, by cash (h) Paid by cheque for the motor vehicle bought from Wong Ltd Debit Office Furniture C Bing Motor Vehicles Bank Bank Wong Ltd T Bird Wong Ltd Credit Cash Office Furniture Wong Ltd P Butler Capital Motor Vehicles Cash BankSolutions to Target Practice Questions Question 1 The left hand side of a ‘T’ account is the debit side and the right hand side is the credit side. To ‘debit’ an account the transaction is entered on the left hand side and to ‘credit’ an account, the transaction is entered on the right hand side. Question 2 There must be a debit entry and a corresponding credit entry of the same value (and vice versa) for every transaction that occurs. Question 3To know when to debit or credit an account, you will first need to determine the type of the account and decide how the transaction will affect the account ;( whether increase or decrease) and then apply the double entry rules as below: To increase an asset, DEBIT the account To decrease an asset, CREDIT the account To increase a liability or capital, CREDIT the account To decrease a liability or capital, DEBIT the account 4 Question 4 Bank ? 20X2 6 000 July 15 July 29 20X2 July 01 Capital Office Machinery Elstead Garage ? 420 2 900 Capital 20X2 July 01 Bank ? 6 000 20X2 July 06Motor Vehicle ? Elstead Garage 2 800 20X2 July 29 Bank Elstead Garage ? 20X2 2 800 July 06 Motor vehicle ? 2 800 20X2 July 15 Bank Office Machinery ? 420 20X2 July 23 Office Equipment ? Longmore & Sons 70 Longmore & Sons 20X2 July 23 Office equipment ? 370 Question 5 Cash ? 20X9 2 000 April 08 300 April 30 20X9 April 01 April 29 Capital Bank Bank Furniture World ? 1 000 800 5 Bank 20X9 April 01 April 03 April 08 Capital Loan – S Lee Cash ? 8 000 3 000 1 000 20X9 April 14 April 23 April 29 Delivery Van Loan – S Lee Cash ? 1 500 1 200 300 Capital 20X9 April 01 April 01Cash Bank ? 2 000 8 000 20X9 April 23 Loan – S. Lee ? 20X9 1 200 April 03 Bank ? 3 000 20X9 April 14 Bank Delivery Van ? 1 500 20X9 April 20 Furniture World Office Furniture ? 20X9 1 100 April 26 Furniture World ? 200 20X9 April 26 April 30 Office Furniture Cash Furniture World ? 20X9 200 April 20 800 Office Furniture ? 1 100 6 Chapter 3 Recording Double Entry for Stock Answers to Activities Activity 3. 1 Debit Office Furniture Cash Purchases A Litton D Penarth Motor Van Returns Inwards Purchases Credit Cash Sales A Litton Returns Outwards Sales Grange Garage D Penarth Bank a) Bought office furniture for use in the business by cash (b) Sold goods for cash (c) (d) (e) (f) Bought goods on credit from A Litton Returned to A Litton some of the goods bought Sold goods on credit to D Penarth Purchased motor van on credit from Grange Garage (g) D Penarth returned some goods to us (h) Bought goods paying immediately by cheque Solutions to Target Practice Questions Question 1 ‘Purchases’ means goods bought by the business with the intention of reselling them for profit as a part of its trading activities. ‘Sales’ means oods sold by the business that were originally bought for resale purposes. In other words, the sale of those goods in which the business trades or deals. Question 2 (a) This is not good practice. Parts returned to suppliers should be credited to a Returns Outwards Account and parts returned from customers should be debited to Returns Inwards Account. This is necessary to provide information on the totals of the returns and to assess whether these are increasing or decreasing over time. (b) Goods sold for cash is recorded by debiting the cash account and crediting the sales account.Goods sold on credit is first recorded by debiting the debtor account and crediting the sales account; when the debtor pays for the goods his account is credi ted and the bank/cash is debited. Question 3 (a) (b) (c) (d) (e) (f) Sold goods on credit to F. Winter N. Armour returns goods to you You settle a creditor’s account by cheque F. Winter pays his account You pay Grange Garages by cheque the amount due on the delivery vehicle previously purchased You return goods to B. Smart Debit F Winter Returns Inwards Creditor Bank Grange Garages B Smart Credit Sales N Armour Bank F Winter Bank Returns Outwards Question 4 20X7 March 01 Capital March 30 B Wright Bank ? 20X7 10 000 March 03 Office Furniture 70 March 23 Scales Motors March 26 T Hunt ? 460 3 600 320 Capital 20X7 March 01 Bank ? 10 000 20X7 March 03 Bank Office Furniture ? 460 20X7 March 05 Purchases Purchases ? 375 T Hunt 20X7 20X7 ? March 08 Returns Outwards 55 March 05 March 26 Bank 320 Purchases ? 375 Returns Outwards 20X7 March 08 T Hunt ? 55 20X7 March 12 Sales B Wright 20X7 ? 156 March 19 March 30 Returns Inwards Bank ? 26 70 Sales 20X7 March 12 B Wright ? 56 8 20X7 March 15 Scales MotorsMotor Vehicle ? 3 600 20X7 March 23 Bank Scales Motors ? 20X7 3 600 March 15 Motor Vehicle ? 3 600 20X7 March 19 B Wright Returns Inwards ? 26 Question 5 20X7 October 01 Capital October 17 Cash Cash 20X7 ? 8 600 October 02 80 October 07 ? 8 000 179 Bank Purchases Capital 20X7 October 01 Cash ? 8 600 20X7 October 02 Cash October 23 Loan – R Nandha October 31 J Durrant Bank ? 20X7 8 000 October 21 October 29 1 200 303 Motor Vehicle M Price ? 1 990 100 20X7 October 03 October 07 M Price Cash Purchases ? 250 179 20X7 October 13 Returns Outwards October 29 Bank M Price ? 0X7 October 03 32 100 Purchases ? 250 9 Fixtures & Fittings 20X7 October 05 Display Ltd ? 2 750 20X7 October 07 Display Ltd ? 730 Display Ltd 20X7 ? 20X7 ? October 09 Fixtures & Fittings 30 October 05 Fixtures & Fittings 2 750 20X7 October 11 Sales J Durrant 20X7 ? 345 October 26 Returns Inwards October 31 J Durrant ? 42 303 Sales 20X7 October 11 J Durrant October 17 Cash ? 345 80 Returns Outwards 20X7 October 13 M Price ? 32 20X7 October 21 Bank Motor Vehicle ? 1 990 Loan – R Nandha 20X7 October 23 Bank ? 1 200 20X7 October 26 J Durrant Returns Inwards ? 42 10Chapter 4 The Double Entry System for Expenses and Revenues and the Effect of Profit (or Loss) and Drawings upon Capital Answers to ‘Think about it’ Questions Page 36 – What kinds of expense and revenue accounts would you expect to see in the books of a Bank? Revenue Accounts Loan interest receivable Commission receivable Service charges (eg. bank charges) Expense Accounts Interest payable Salaries and wages Insurance Stationery Utilities Answers to Activities Activity 4. 1 Transactions Paid general expenses in cash ? 150 Received commission by cheque ? 230 Paid for office stationery by cash ? 5 Paid telephone by cheque ? 230 Received interest of ? 350 by cheque Accounts General Expense Cash Bank Commission Receivable Office Stationery Cash Telephone Bank Bank Interest Receivable Type of acco unt Expense Asset Asset Revenue Expense Asset Expense Asset Asset Revenue Transaction effect Increase Decrease Increase Increase Increase Decrease Increase Decrease Increase Increase Action in the account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Solutions to Target Practice Questions Question 1 (a) Revenue (b) The entries are on the credit side of the account. 11Question 2 Expense accounts should be debited and revenue accounts should be credited. Question 3 20X3 April 01 April 24 April 30 Bank 20X3 ? 5 000 April 03 85 April 05 1 000 April 14 April 21 April 27 ? 370 260 130 20 385 Capital Sales Capital Office Equipment Rent Cash Stationery A Smart Capital 20X3 April 01 April 30 Bank Bank ? 5 000 1 000 20X3 April 03 Bank Office Equipment ? 370 20X3 April 05 Rent Rent ? 260 20X3 April 08 A Smart Purchases ? 420 20X3 April 11 April 27 Returns Outwards Bank A Smart ? 20X3 35 April 08 385 Purchases ? 420 Returns Outwards 20X3 April 11 A Smart ? 35 12 0X3 April 14 Bank ? 130 Cash 20X3 April 15 Wages ? 115 20X3 April 15 Cash Wages ? 115 20X3 April 18 Sales R Squires ? 175 Sales 20X3 April 18 April 24 R Squires Bank ? 175 85 20X3 April 21 Bank Stationery ? 20 Question 4 Bank 20X4 ? 7 000 May 02 100 May 08 May 19 May 24 May 26 May 31 Capital 20X4 May 01 20X4 May 01 May 28 Capital D Langford Rent Fixtures & Fittings Drawings Cash R Lester Office Equipment ? 280 170 160 240 470 215 Bank ? 7 000 20X4 May 02 Bank Rent ? 280 13 20X4 May 05 R Lester Purchases ? 520 20X4 May 12 May 26 Returns Outwards Bank R Lester 20X4 ? 45 May 05 475 Purchases 520 20X4 May 08 Bank Fixtures & Fittings ? 170 Returns Outwards 20X4 May 12 R Lester ? 45 Sales 20X4 May 15 D Langford ? 32 20X4 May 15 Sales D Langford 20X4 ? May 22 32 May 28 Returns Inwards Bank ? 24 100 20X4 May 19 Bank Drawings ? 160 20X4 May 22 D Langford Returns Inwards ? 30 20X4 May 24 Bank Cash ? 20X4 240 May 30 Wages ? 80 14 20X4 May 30 Cash Wages ? 80 20X4 May 31 Bank Office Equipment ? 215 Question 5 Drawings are defined as money, goods, or services withdrawn from the business by the owner(s) for their personal use. Drawings reduce the capital of the business. Question 6 a) Answer = ? 2500 Workings: 1 February 20X7 Assets Equipment Stock Bank Liabilities Creditors Loan Capital ? 8 000 6 000 2 000 ? 2 000 1 000 ?16 000 ?3 000 ?16 000 – ? 3000 = ? 13 000 28 February 20X7 Assets Equipment Stock Bank Liabilities Creditors Loan Capital ? 8 000 2 000 8 500 ? 2 000 1 000 ?18 500 ?3 000 ?18 500 – ? 3000 = ? 15 500 Therefore, Opening Capital + Profit = Closing Capital ? 13 000 + ? = ? 15 500 ? 15 500 – ? 13 000 = ? 2500 (b) Profits increase capital whereas losses reduce it. 15 Chapter 5 Balancing Accounts and the Trial Balance Answers to ‘Think about it’ QuestionsPage 49 – How the double entry principle relates to the balancing of accounts. For every ‘balance c/d’ there is a corresponding ‘balance b/d’ of the same amoun t on the opposite side of the account. Answers to Activities Activity 5. 1 (a) An account will have a debit balance if the total of the debit entries is greater than the total of the credit entries. This means that the balance brought down from the last month (balance b/d) is on the debit side of the account. (b) An account will have a credit balance if the total of the credit entries is greater than the total of the debit entries.This means that the balance brought down from the last month (balance b/d) is on the credit side of the account. (c) The ‘balance c/d’ is the amount transferred (carried down or carried forward) from one accounting period to the next; this is the balance at the last date of the accounting period (e. g. a month). The ‘balance b/d is the amount transferred (brought down or brought forward) from a previous accounting period to the current one; this is the balance at the first date of the accounting period. (d) The double lines are necessary to show that the account has been balanced and that the totals are final figures. e) Accounts are closed off when there is no balance on the account at the end of the accounting period. Activity 5. 2 20X9 July 01 July 04 July 09 July 13 July 15 July 19 July 22 July 24 July 29 Capital Equipment Wages Sales Computers Wages Sales Motor vehicles Wages Debit ? 55 000 Credit ? 5 000 900 Balance ? 55 000 50 000 49 100 58 650 50 650 49 750 53 630 47 630 46 530 9 550 8 000 900 3 880 6 000 1 100 16 Solutions to Target Practice Questions Question 1 E. Appleby 20X6 ? 650 October 07 Returns Inwards 276 October 18 Bank 190 October 31 Balance c/d 1 116 506 0X6 October 03 Sales October 12 Sales October 24 Sales November 01 Balance b/d ? 120 490 506 1 116 Answer – There is a debit balance of ? 506. Question 2 N Small ? 145 215 185 ___ 545 365 20X3 March 04 March 18 March 23 Sales Sales Sales 20X3 March 13 March 26 March 30 March 31 Returns Inwards Returns Inwards Bank Balance c/d ? 20 35 125 365 545 April 01 Balance b/d 20X3 March 21 March 31 Bank Bank A Smith 20X3 ? 70 March 10 290 360 Purchases ? 360 ___ 360 20X3 March 07 March 28 March 31 T Dove 20X3 ? Returns Outwards 35 March 02 Bank 235 March 15 Balance c/d 310 580 April 01 Purchases PurchasesBalance b/d ? 270 310 ___ 580 310 N Small is a debtor and T Dove is a creditor. A Smith is neither. 17 Question 3 T Dove 20X3 March 02 March 07 March 15 March 28 Purchases Returns Outwards Purchases Bank Debit ? 35 310 235 Credit ? 270 Balance ? 270 Cr 235 Cr 545 Cr 310 Cr N Small 20X3 March 04 March 13 March 18 March 23 March 26 March 30 Sales Returns Inwards Sales Sales Returns Inwards Bank Debit ? 145 215 185 35 125 Credit ? 20 Balance ? 145 Dr 125 Dr 340 Dr 525 Dr 490 Dr 365 Dr A Smith 20X3 March 10 March 21 March 31 Purchases Bank Bank Debit ? 70 290 Credit ? 360 Balance ? 360 Cr 290 Cr NILQuestion 4 (a) 20X5 January 01 January 23 January 26 January 31 Capital Cash S Lee Capital Bank ? 20X5 25 000 January 01 6 000 Janua ry 25 5 500 January 29 5 000 January 30 January 30 January 31 _____ January 31 41 500 23 000 ? Rent 2 000 Cash 500 Midland Motors 4 000 D. Terry 8 000 E. Appleby 2 000 Electricity 2 000 Balance c/d 23 000 41 500 February 01 Balance b/d 20X5 January 31 Balance b/d Capital ? 20X5 30 000 January 1 Bank .. †¦Ã¢â‚¬ ¦. January 31 Bank 30 000 February 01 Balance c/d ? 25 000 5 000 30 000 30 000 18 20X5 January 1 Bank February 01 Balance b/d Rent 20X5 ? 2 000 January 31 2 000 2 000Balance c/d ? 2 000 2 000 20X5 January 03 January 05 January 15 D Terry E Appleby D Terry February 01 Balance b/d Purchases ? 20X5 5 000 January 31 3 000 10 000 18 000 18 000 Balance c/d ? 18 000 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18 000 20X5 January 22 January 30 January 31 Returns Outwards Bank Balance c/d D Terry 20X5 ? January 03 Purchases 2 000 January 15 Purchases 8 000 5 000 15 000 February 01 Balance b/d ? 5 000 10 000 _____ 15 000 5 000 Motor Car 20X5 20X5 ? January 04 Midland Motors 4 000 January 31 February 01 Balance b/d 4 000 Balance c/d ? 4 000 20X5 January 29 Bank Midland Motors 20X5 ? 4 000 January 4 4 000 Motor Car 4 000 4 000 20X5 January 30 January 31 Bank Balance c/d E Appleby 20X5 ? Purchases 2 000 January 5 1 000 3 000 February 01 Balance b/d ? 3 000 †¦Ã¢â‚¬ ¦.. 3 000 1 000 19 20X5 January 10 January 25 Sales Bank February 01 Balance b/d Cash 20X5 ? 6 000 January 23 500 January 28 †¦Ã¢â‚¬ ¦.. January 31 6 500 250 Bank Office expenses Balance c/d ? 6 000 250 250 6 500 20X5 January 31 Balance c/d Sales 20X5 ? 14 000 January 10 Cash †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ January 20 S Lee 14 000 February 01 Balance b/d ? 6 000 8 000 14 000 14 000 20X5 January 20 Sales February 01 Balance b/d S Lee 20X5 ? 8 000 January 24 January 25 †¦Ã¢â‚¬ ¦.. January 31 8 000 1 500Returns Inwards Bank Balance c/d ? 1 000 5 500 1 500 8 000 20X5 January 31 Balance c/d Returns Outwards 20X5 ? 2 000 January 22 D Terry 2 000 February 01 Balance b/d ? 2 000 2 000 2 000 20X5 January 24 S Lee February 01 B alance b/d Returns Inwards 20X5 ? 1 000 January 31 1 000 1 000 Balance c/d ? 1 000 1 000 20 Office Expenses 20X5 ? Cash 250 January 31 250 February 01 Balance b/d 250 20X5 January 28 Balance c/d ? 250 250 20X5 January 31 Bank February 01 Balance b/d Electricity 20X5 ? 2 000 January 31 2 000 2 000 Balance c/d ? 2 000 2 000 (b) Steve Trial Balance at 31January 20X5 DR CR ? Bank Capital Rent Purchases D Terry Motor Car E Appleby Cash Sales S Lee Returns Outwards Returns Inwards Office Expenses Electricity 23 000 30 000 2 000 18 000 5 000 4 000 1 000 250 14 000 1 500 2 000 1 000 250 2 000 52 000 _____ 52 000 Question 5 Bank 20X8 ? 5 000 May 16 700 May 27 May 30 †¦Ã¢â‚¬ ¦.. May 31 5 700 1 300 20X8 May 01 May 18 Balance b/d Bank Dodd Delivery Van Cash Balance c/d ? 2 900 1 200 300 1 300 5 700 June 01 Balance b/d 21 20X8 May 31 Balance c/d Capital 20X8 ? 20 000 May 01 20 000 June 01 Balance b/d Balance b/d ? 20 000 20 000 20 000 20X8 May 01 May 04 May 30 June 01 Balance b/d Sales Bank Balance b/d Cash 20X8 ? 000 May 07 2 000 May 23 300 May 31 3 300 900 Purchases Office Expenses Balance c/d ? 1 500 900 900 3 300 20X8 May 16 May 31 Bank Balance c/d Dodd 20X8 ? 2 900 May 01 2 100 May 02 5 000 June 01 Balance b/d Purchases Balance b/d ? 2 000 3 000 5 000 2 100 20X8 May 01 May 10 June 01 Balance b/d Sales Balance c/d Fish ? 20X8 6 000 May 18 5 000 May 31 11 000 10 300 ? Bank Balance b/d 700 10 300 11 000 20X8 May 01 June 01 Balance b/d Balance b/d Furniture ? 20X8 10 000 May 31 10 000 10 000 Balance c/d ? 10 000 10 000 20X8 May 02 May 07 June 01 Dodd Cash Balance b/d Purchases 20X8 ? 3 000 May 31 1 500 4 500 4 500 Balance c/d 4 500 †¦Ã¢â‚¬ ¦.. 4 500 22 20X8 May 31 Balance c/d Sales 20X8 ? 7 000 May 04 ____ May 10 7 000 June 01 Cash Fish Balance b/d ? 2 000 5 000 7 000 7 000 20X8 May 23 June 01 Cash Balance b/d Office Expenses 20X8 ? 900 May 31 900 900 Balance c/d ? 900 900 20X8 May 27 June 01 Bank Balance b/d Delivery Van 20X8 ? 1 200 May 31 1 200 1 200 Balance c/ ? 1 200 1 200 (b) Tom Trial Balance at 31 May 20X8 DR CR ? ? Bank Capital Cash Dodd Fish Furniture Purchases Sales Office Expenses Delivery Van 1 300 20 000 900 2 100 10 300 10 000 4 500 7 000 900 1 200 29 100 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 29 100 23 Question 6 (a) T. Lennon Trial Balance at 31 December 20X9 DR CR ? Motor Vehicle Purchases Sales Stock of Goods Cash at Bank Fixtures and Fittings Wages Debtors Creditors Rent Drawings General Expenses Loan from D. Waller Capital 4 500 2 960 4 230 1 800 6 740 7 900 2 310 1 960 2 600 1 250 180 930 2 000 21 700 30 530 30 530 (b) A trial balance checks the arithmetical accuracy of the double entry. (c) Errors not revealed by the trial balance: 1. A transaction that has been completely omitted 2. A transaction that was entered correctly but using the wrong amount Errors revealed by the trial balance 1. Entering only one side of a transaction 2. Addition errors Question 7 a) (b) (c) (d) (e) (f) Credit Debit Debit Credit Credit Debit 24 Chapter 6 Trading and Profit & Loss Accounts: An Introduction Answers to Activities Activity 6. 1 Year Sales ? Cost of goods sold ? 23 230 23 900 21 500 Gross Profit/Loss ? 5 890 2 889 7 000 Operating Expenses ? 3 311 3 600 2 900 Other Revenue ? 600 200 – Net Profit / Loss ? 3 179 (511) 4 100 2005 2006 2007 29 120 26 789 28 500 Solutions to Target Practice Questions Question 1 Andrew Gordon Trading and Profit & Loss Account for the year ended 31 December 20X2 ? 26 200 3 100 23 100 11 570 34 670 6 100 1 200 160 380 3 730 11 570 ? 34 670 _____ 34 670 Gross profit b/d 11 570Purchases Less Stock at 31 December 20X2 Cost of goods sold Gross profit c/d Wages Rent Insurance Lighting and heating Net profit Sales ______ 11 570 25 Question 2 A. Darnell Trading and Profit & Loss Account for the year ended 30 September 20X7 ? 23 380 3 650 19 730 11 140 30 870 900 320 860 4 200 165 4 695 11 140 ? 30 870 _____ 30 870 Gross profit b/d 11 140 Purchases Less Stock at 30 September 20X7 Cost of goods sol d Gross profit c/d Rent Insurance Motor vehicle expenses Wages General expenses Net profit Sales _____ 11 140 Question 3 B. Betty Trading and Profit & Loss Account for the year ended 30 June 20X5 ? 1 160 2 800 18 360 10 280 28 640 2 240 5 100 190 315 2 435 10 280 ? 28 640 _____ 28 640 Gross profit b/d 10 280 Purchases Less Stock at 30 June 20X5 Cost of goods sold Gross profit c/d Rent Wages Insurance Office expenses Net profit Sales ______ 10 280 26 Question 4 Ada Cheung Trading and Profit & Loss Account for the year ended 31 March 20X3 Purchases Less Stock at 31 March 20X3 Cost of goods sold Gross profit c/d Wages Rent Advertising Lighting and heating Sundry expenses Net profit ? 46 820 9 140 37 680 16 020 53 700 7 360 2 370 840 765 1210 3 475 16 020 Sales ? 53 700 _____ 53 700 Gross profit b/d 16 020 _____ 16 020 Question 5 (a) 1. Comparing performance with other businesses or with previous periods of time to see if the business is growing. Planning ahead – profits will all ow the firm to expand so information about how much profit has been made and how it was made will be important in deciding what to do in the future. To help the business to control and monitor its expenses. 2. 3. (b) This means that his cost of goods sold was more than the sales revenue; he sold the goods for less than he paid for them. 27 Chapter 7 The Balance Sheet Answers to ‘Think about it’ QuestionsPage 72 – Why the balance sheet is prepared at a specified date while the trading and profit and loss is prepared for a period of time. Because it shows the financial position of a business at a particular date and not for a particular period of time. It shows the value of assets and liabilities as they are at a specific date. Solutions to Target Practice Questions Question 1 1. Fixed assets are presented in order of decreasing permanence while current assets are presented in increasing order of liquidity. Question 2 J Robinson Balance Sheet at 31 March 20X7 ? Fix ed Assets Buildings Fixtures and fittings Motor vehicle ?Capital (missing figure) ? 47 020 35 000 2 860 6 400 44 260 Current Assets Stock Debtors Bank Cash 4 360 7 200 2 950 80 14 590 58 850 Current Liabilities Creditors Long-term Liabilities Loan 6 830 5 000 ______ 58 850 28 Question 3 Andrew Gordon Balance Sheet as at 31 December 20X2 ? Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 68 660 3 730 2 600 1 130 69 790 Current Liabilities Creditors 54 000 1 200 5 600 60 800 Current Assets Stock Debtors Bank 3 180 3 460 4 130 10 690 71 490 1 700 _____ 71 490 Question 4 A Darnell Balance Sheet as at 30 September 20X7 ?Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 34 555 4 695 3 200 1 495 36 050 Current Liabilities Creditors 24 000 850 4 200 29 050 Current Assets Stock Bank Cash 3 650 2 130 70 9 900 38 950 2 900 38 950 29 Question 5 B Betty Balance Sheet as at 31 June 20X5 ? Fi xed Assets Office furniture Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 7 500 2 435 1 230 1 205 8 705 Current Liabilities Creditors 1 870 650 2 800 ____ 3 450 2 800 2 360 1 890 75 _7,125 10 575 Current Assets Stock Debtors Bank Cash _____ 10 575 Question 6 Ada Cheung Balance Sheet as at 31 March 20X3 ?Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 68 335 3 475 3 700 __(225) 68 110 Current Liabilities Creditors 43 000 5 700 5 300 54 000 Current Assets Stock Debtors Bank 9 140 8 200 1 710 19 052 73 050 4 940 _____ 73 050 30 Chapter 8 Final Accounts with Further Considerations Answers to Activities Activity 8. 1 T Antonio Trading Account for the month ending 30 April 20X8 Opening Stock Purchases Add Carriage inwards Less Returns outwards Less Closing Stock Cost of goods sold Gross profit c/d ? 3 855 2 680 102 2 782 139 Sales Less Returns inwards Turnover ? 280 139 5 141 2 643 6 498 2 631 3 867 1 274 5 141 5 141 Solu tions to Target Practice Questions Question 1 (a) Carriage Inwards is associated with the cost of getting goods into the business and ready for resale so it is always added to the cost of purchases in the Trading Account. Carriage Outwards is a necessary cost of ‘distribution’ of sales to customers and so it is debited to the Profit & Loss Account with other expenses. (b) It is necessary to include returns inwards and returns outwards in the trading account to adjust the purchases and sales figures to find the amounts actually bought and sold. c) It shows the amount of resources a business has that can be readily turned into cash. 31 Question 2 R Knight Trading and Profit & Loss Account for the year ended 31 October 20X6 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening stock Purchases Add: Carriage inwards Net purchases Less: Closing stock Gross Profit Less: Expenses Carriage outwards Wages Sundry expenses Net Profit ? ? 120 500 740 119 760 15 200 75 400 2 150 77 550 92 750 13 600 79 150 40 610 3 200 28 500 2 230 33 930 6 680 32 Question 3T Pearl Trading and Profit & Loss Account for the year ended 31 August 20X7 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening stock Purchases Add: Carriage inwards Less Returns outwards Net purchases Less: Closing stock Gross Profit Add: Rent Receivable Less: Expenses Carriage Outwards Rent Payable Lighting and heating Telephone Net Profit ? ? 34 350 1 230 33 120 4 360 26 500 940 27 440 1 050 26 390 30 750 4 210 26 540 6 580 600 7 180 540 2 100 430 215 3 305 3 875 33 Question 4 P Franks Trading and Profit & Loss Account For the year ended 28 February 20X8 ?Sales Less: Returns Inwards Turnover Less: Cost of goods sold Opening stock Purchases Less: Returns outwards Net purchases Less: Closing stock Gross Profit Less: Expenses Lighting and heating Salaries and wages Sundry expenses Rent and rates Net Profit ? ? 221 300 5 200 216 100 12 600 155 400 6 650 148 750 161 350 16 100 145 250 70 850 3 900 48 500 4 650 2 300 59 350 11 500 34 P Franks Balance Sheet at 28 February 20X8 ? Fixed assets Premises Equipment Motor vehicle Current assets Stock Debtors Bank Cash Less: Current liabilities Creditors Net current assets Long-term liabilities Loan ? 04 000 28 000 21 000 153 000 16 100 23 750 960 76 40 886 15 716 25 170 178 170 32 000 146 170 Financed by: Capital Balance b/d Add: Net profit Less: Drawings 145 270 11 500 156 770 10 600 146 170 35 Question 5 T Williams Trading and Profit & Loss Account for the year ended 31 May 20X8 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening Stock Purchases Add: Carriage inwards Less: Returns outwards Net purchases Less: Closing stock Gross Profit Less: Expenses Wages and salaries Rent Insurance Sundry expenses Carriage Outwards Net Profit ? 139 200 430 138 770 27 230 103 500 630 104 130 960 103 170 130 400 30 580 99 820 38 950 15 320 5 400 325 475 2 340 23 860 15 090 36 T Williams Balance Sheet at 31 May 20X8 ? Fixed assets Buildings Fixtures and fittings Current assets Stock Debtors Bank Cash Less: Current liabilities Creditors Net current assets Long-term liabilities Loan Financed by: Capital balance b/d Add: Net profit Less: Drawings ? 32 000 4 250 36 250 30 580 21 460 4 450 195 56 685 12 240 44 445 80 695 15 000 65 695 62 005 15 090 77 095 11 400 65 695 37 Chapter 9 The Division of the Ledger and Books of Original Entry Answers to ‘Think about it’ QuestionsPage 93 – What have you noticed about the Cash Book? It is a Book of Original Entry as well as a Ledger. Answers to Activities Activity 9. 1 1. 2. 3. 4. 5. 6. General Ledger Sales Ledger General Ledger General Ledger General Ledger or Private Ledger General Ledger Solutions to Target Practice Questions Question 1 (a) They provide documentation (proof) that a transaction has occurred. (b) 1. 2. They save time as they summarise similar transactions for the period, resulting in less information and les s frequent postings to the General Ledger.They allow a business to have different individuals responsible for different journals therefore increasing internal control. Question 2 (a) Debtors Ledger (b) Creditors Ledger (c) Nominal Ledger Question 3 (a) (b) (c) (d) (e) Real Nominal Nominal Real Real Question 4 (a) (b) (c) (d) (e) (f) Cash Book Cash Book Cash Book Cash Book Purchases Day Book Cash Book 38 Chapter 10 Bank Facilities Answers to Activities Activity 10. 1 Payee Cheque number Drawer Counterfoil Crossed cheque Mary White is writing a cheque for ? 200 to John Blue.As she is the drawer she must make sure that she signs the cheque. Her book-keeper told her to always fill out the counterfoil so she will have a record of the payment. As the cheque number is on the counterfoil as well as the cheque it will help her to trace the payment. She has decided to give John a crossed cheque as she is worried that the cheque might get lost. John is not very happy about this. As he is the p ayee it means he will not be able to get the money from the bank immediately. Solutions to Target Practice Questions Question 1 Bank 20X7 ? 45 December 15 December 22 20X7 November 30 Interest receivable Interest payable Bank charges ? 320 45 Interest Receivable 20X7 November 30 Bank ? 145 20X7 December 15 Bank Interest Payable ? 320 20X7 December 22 Bank Bank Charges ? 45 Question 2 A bank overdraft occurs when the bank allows a current account holder to withdraw more money from the account than is actually in the account. For example, the account holder only has ? 800 in the account but with the permission of the bank is allowed to withdraw up to a maximum of ? 1500. 39 Question 3A standing order is used for payments of fixed amounts at regular intervals at the request of the account holder while a direct debit is made at the request of the payee (the person/organisation that is owed) and can be used for either fixed or changing amounts and for payments at irregular intervals. Que stion 4 (a) Interest receivable is the interest received on the balance of an interest bearing account; the amount the bank pays the account holder for the use of the money in the account. (b) Interest payable is the cost of borrowing; it is the payment to the lender (the bank) for the use of its money. c) Bank charges is a charge by a bank for the services it provides. Question 5 (a) (b) (c) (d) Direct Debit Credit transfer Standing order Dividend Question 6 (a) 1. 2. Current account Deposit account (b) Current accounts do not always earn interest, deposit accounts do. Question 7 (a) (b) (c) (d) ? 2738. 57 – ? 206. 05 = ? 2532. 52 Credit column Credit transfer Loan repayment through a standing order 40 Chapter 11 Cash Books Answers to ‘Think about it’ Questions Page 111 – Is it possible for the cash columns to have a credit balance? Give reasons for your answer. No – because it is impossible to spend more cash than is available.If the business has cash in hand of only ? 50 then it cannot spend more than this amount. Solutions to Target Practice Questions Question 1 (a) As a book of original entry it is the first place where all the cash and cheque transactions are recorded; it is also one side of the double entry. (b) Where the debit and credit entries for a transaction are in the same ledger or book. Question 2 F. Patel – Cash Book Bank 20X3 Details ? Bank (C) Nov 02 Rent 2 800 Nov 03 Purchases Nov 07 Stationery 230 Nov 10 Wages Nov 12 Cash (C) 200 Nov 14 Carriage in Nov 20 Drawings Nov 26 Bank (C) Nov 28 Purchases Nov 30 Balances c/d †¦Ã¢â‚¬ ¦..Nov 30 3 230 2 130 20X3 Nov 01 Nov 02 Nov 14 Nov 17 Nov 23 Nov 28 Details Capital Cash (C) Bank (C) Sales Sales Cash (C) Cash ? 3 000 160 220 Cash ? 2 800 46 120 Bank 140 370 160 34 60 200 120 3 380 430 2 130 3 230 Dec 1 Balances b/d †¦Ã¢â‚¬ ¦.. 3 380 120 41 Question 3 T. Karekla – Cash Book Cash Bank 20X9 Details ? ? Motor vehicle 6 000 July 3 150 Cash (C) Ju ly 4 Rent 2 000 July 8 100 Purchases July 10 390 Carriage in July 18 Cash (C) 540 July 20 Purchases 300 July 24 Wages July 24 Bank (C) July 30 Balances c/d July 31 ___ ____ 640 8 840 95 4 460 0X9 July 1 July 4 July 15 July 20 July 23 July 29 July 30 Details Capital Bank (C) Loan Bank (C) Sales Sales Cash (C) Cash ? 85 Bank ? 3 000 150 460 40 100 20 300 95 670 100 4 460 8 840 Aug 1 Balances b/d Question 4 Maria Metaxa – Cash Book Cash Bank 20X7 DETAILS ? 65 ? 3 196 2 610 1 250 2 730 2 945 1 760 Feb 02 Feb 06 Feb 06 Feb 12 Feb 12 Feb 15 Feb 16 Feb 19 Feb 21 Feb 25 Feb 27 Feb 28 Feb 28 Feb 28 Postage Purchases Wages Cash (C) Wages Electricity Stationery Wages Travelling expenses Telephone Wages P Barratt D Smart Balances c/d 20X7 Feb 01 Feb 04 Feb 08 Feb 10 Feb 12 Feb 19 Feb 23DETAILS Balances b/d Sales D Pole Sales Bank (C) Sales E Holme Discount Allowed ? 30 Discount Received ? Cash ? 50 Bank ? 1 075 2 167 100 1 964 53 100 40 38 1 840 19 132 1 920 1 240 2 145 1 855 14 491 __ 7 0 Mar 1 Balances b/d ___ 165 58 _____ 14 491 1 855 20 55 __ 75 58 165 (b) Discount Allowed ? Total for the month 70 20X7 February 28 42 Discount Received 20X7 February 28 Total for the month ? 75 Question 5 (a) 20X2 Oct 01 Oct 02 Oct 10 Oct 12 Oct 18 Oct 20 Oct 21 Oct 21 Oct 26 DETAILS Balances b/d P Mace Sales G Lai Bank (C) Sales Loan interest Cash (C) B Chalke Discount Allowed ? 150 1 120 60 16 1 120 704 Sally Foon – Cash Book Cash Bank 20X2 DETAILS ? 68 ? 160 2 086 560 Oct 01 Oct 12 Oct 14 Oct 16 Oct 18 Oct 21 Oct 22 Oct 22 Oct 24 Oct 28 Oct 30 Oct 30 Oct 31 Balances b/d W Eastern Stationery F Samway Cash (C) Bank (C) Wages G Lai Telephone Office Expenses L. Hall Interest paid Balances c/d Discount Received ? Cash ? 35 4 1 120 35 560 147 40 13 __ 17 247 20 1 618 14 491 86 150 Bank ? 1 692 75 __ 24 Nov 1 Balances b/d ____ 1 398 203 _____ 4 630 1 618 203 1 398 (b) The ? 24 discount allowed will be posted to the debit side of the discount allowed account.The ? 17 discount re ceived will be posted to the credit side of the discount received account. (c) 20X2 October 31 Discount Allowed ? Total for the month 24 Discount Received 20X2 October 31 Total for the month ? 17 43 Chapter 12 The Sales and Purchases Day Books Answers to ‘Think about it’ Questions Page 125 – Why do you think the invoice numbers are not sequential in S French’s Purchases Day Book? Because S French has not assigned unique numbers to each invoice but is instead using the invoice numbers as received from the different sellers.Solutions to Target Practice Questions Question 1 (a) Sales Day Book Date 20X8 Oct 01 Oct 04 Oct 09 Oct 15 Oct 23 Oct 29 Oct 31 Details F Law G Harding S Wilks L Ryle F Law G Harding Transferred to Sales Account Net Amount ? 612 436 370 810 354 508 3 090 (b) Sales Ledger 20X8 October 01 F Law ? 612 Sales 20X8 October 04 Sales G Harding ? 436 20X8 October 09 Sales S Wilks ? 370 44 L Ryle 20X8 October 15 Sales ? 810 20X8 October 23 Sales F Law ? 354 20X8 October 29 Sales k G Harding ? 508 General Ledger (c) Sales 20X8 ? October 30 Credit sales for the month 3 090 Question 2 (a)Sales Day Book Date 20X5 July 02 July 07 July 12 July 18 July 23 July 30 July 31 Details D Smith T Ronald N Smithers L Malt D Smith T Ronald Transferred to Sales Account Net Amount ? 488 480 256 186 221 435 2 066 (b) Sales Ledger 20X5 July 02 D Smith ? 488 Sales 45 20X5 July 07 July 30 Sales Sales T Ronald ? 480 435 N Smithers ? 256 20X5 July 12 Sales 20X5 July 18 Sales L Malt ? 186 20X5 July 23 Sales D Smith ? 221 General Ledger Sales 20X5 July 31 Credit sales for the month ? 2 066 Question 3 (a) Purchases Day Book Date 20X3 April 01 April 03 April 10 April 14 April 21 April 27 April 30

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Teenage Pregnancy in Columbus, Georgia - Research Paper Example Of particular focus in this paper will be the current state of the problem, and interaction with the community entities that influence and respond to the issue of teenage pregnancies in Columbus, Georgia Alabama. It’s situated on the central western edge of the United States of America state of Georgia. It also forms part of the It is part of the Columbus, Georgia-Alabama. The total population of the county was estimated to be around 189,885 during the year 2010 population enumeration census. Owing to the high prevalence of teen pregnancies in Columbus, the centers for Disease control formulated efforts that were science based to prevent teen pregnancy through three ambitious programs; sex education focusing on abstinence and contraceptive use, programs that ensure the youth are actively involved in constructive activities in the community and school and also a multifaceted program that focused on studies, healthcare, sports and future careers they might take up. Based on these three tenets, it was assumed that the rates and prevalence of teen pregnancies and HIV infections would be reduced. However this has not succeeded hundred percent as teen pregnancies have been reported to date. Teenage pregnancies are often occasioned by pre-marital sexual interactions among youth of nineteen years and below. Most of the youths in this age bracket are usually experimenting oblivious of the dangers that accrue to their unhealthy practice. It is against this backdrop information that this paper intends to explore the current state and levels of teenage pregnancies in Columbus, Georgia Alabama. Columbus, Georgia, the only city within Muscogee County, is located on the central western border of Georgia and is separated from Alabama by the Chattahoochee River. It covers a land area of around 216.3 square miles with a population of around 186,984 people as at 2010. Out of these area around 572.4 square

Humen resource management. Communications Officer at Care Essay

Humen resource management. Communications Officer at Care International - Essay Example Therefore, this HRM portfolio seeks to evaluate the significance of job analysis and design with regards to sustainability of organisations during the contemporary period and the discussion is centred on the position of Communication’s Officer at Care International. As such, the portfolio is structured as follows: the first section looks at the description of the job and organisation, the second section focuses on job analysis plan as well as discussion about the link between job analysis and design and sustainability of an organisation’s human resources. The last section focuses on outlining job descriptions in modern workplaces. The role of Communications Officer is mainly concerned with gathering as well as disseminating information about the activities in which the organisation is involved in. As highlighted, Care International is a Non Governmental Organisation that is concerned with offering humanitarian assistance to families that have been impacted by natural disasters. This organisation seeks donations on behalf of people who have been affected by natural disasters from different organisations and these are distributed to the people in need. The organisation is also involved in assessing the magnitude of natural disasters in different situations and it coordinates the efforts of the other organisations towards provision of relief to people who have been affected. ... A Communications Officer role is to interact directly with the people in order to gather information about those in need as well as to establish the nature of problems they are facing. This person is also responsible for communicating vital information about the organisation to different stakeholders that may be involved in its operations. For instance, the Communications Officer will also be responsible for speaking on behalf of the company about various activities it is involved in to different stakeholders. This person is also responsible for disseminating any information or correspondence with other employees in the organisation. The incumbent person for this particular position should possess effective communication skills, both verbally and written since he or she deals with vital information about the organisation. This position is people oriented hence there is need for selecting the right person since the image of the organisation is portrayed through the Communications Offi cer. Section 2: a. This section outlines a job analysis plan that details the method going to be used to conduct an analysis for the post of Communications Officer. The first step is concerned with outlining the role expectations of the Communications Officer in the organisation. This step helps to define the role expectations of this incumbent person with regards to the duties going to be performed. In as far as planning is concerned, this role is very important given that it enables the recruiters to select the ideal candidate from a pool of potential job applicants. For instance, a Communications Officer has to possess effective communication skills in order to be able to execute this particular type of job. Defining the position also helps to determine the level of competence

The Catholic School -Awakening a sense of the sacred in the lives of Essay

The Catholic School -Awakening a sense of the sacred in the lives of young people today - Essay Example Thus the spiritual formation must be attributed though continual sustenance of the distinctive characteristics of the catholic school under the Irish education system. Thus, the identity of the next generation of Catholics is under continuous surmise and survey. They may either have a strong sense of their Catholic identity, or will they may grow on to reflect a more generic Christian identity, without the distinctiveness associated with Catholicism. And this is where an appropriate catholic school is of great importance that can awaken in them a pure catholic system of values. A number of social commentators such as Dean R. Hoge and James J. Davidson suggest that the Catholic identity of young Catholics is quite troubled2, since faced by a secular and postmodern culture they are disillusioned by such confusing variety. Hoge3 calls it a â€Å"culture of choice† where religious affiliations or church memberships are strictly voluntary and to be chosen on the basis of personal p reference, people are drifting away from understanding the intrinsic values of spiritual life. Furthermore, many younger Catholics are quite unfamiliar with their religious tradition. And with no idea of their own scriptures, they know little of the history or doctrine of their church, and few would be able to tell the stories of the saints. In his book, Catholicism, Richard McBrien identifies two characteristic foci of the Catholic tradition—one philosophical, the other theological.4 Both the pursuit of Catholicism is in reality pluralistic in its approach to truth. Catholic identity traditionally has included for Catholics a sense for the historical uniqueness of their Church; they understand it as a worldwide, visible community, now almost two thousand years old, with roots stretching back to the church of the apostles. Youths of this generation are not given much encouragement to learn

In the 15th Century the idea of schooling began Essay Example for Free

In the 15th Century the idea of schooling began Essay It is used during the process of streaming within school subjects. For example pupils who the teacher feels is good or poor at a certain subject, will be taught in a high or low ability group, this has criticisms at it encourages pupils to think of themselves as having fixed educational ability. A pupil can also be given a label from their behaviour, such as trouble maker or thick, either at home or school. This can damage a childs self esteem or make them rebel, which leads to them believing the label they have been given, this is called the Self-fulfilling prophecy. For what ever reason they were given the label, they find it hard to be looked at without the label, so end up behaving in a way that fits to their given label. Working class not only have had inequalities in the past but also still do today. Although there are more opportunities in the education system, home life also plays large impact on how well a child does achidemically at school. Douglas (1964) conducted a study on middle and working class children through primary and secondary school. He found that children of a similar measured ability at age 7 varied a great deal in their educational achievement by the time they were 11. He claimed that the greatest influence on attainment was parental attitudes in the working class. He measured this by the number of times these parents visited the school, family size, early child-rearing practises, health and the quality of the childs school. Working class children are more likely to have a part time job whilst at school and likely to leave education at 16. The Plowden Report (1967) noticed in working class households there was an absence of books, educational toys, lack of finance, lack of motivation, no parent support of due to own experiences or as a need to work long hours. This has been described as Material and Cultural deprivation. Jackson and Marsden (1962) published a study, Education and the working class. It showed that working class children tend to be slower in learning how to read and write, they start school at a disadvantage and this normal continues throughout. Marxists would say that this is because there are less opportunities for some classes and that the education system just helps to reproduce the existing class structure, e. g. , the ruling class (upper and middle class) and the workers (the working class), thus conflict and inequalities will continue. Success at school depends heavily on language, for reading, writing, speaking and understanding. Bernstein argues that there is a relationship between language use and social class, and that the language used by the middle class is a better instrument for success at school than the language used by the working class, (Browne 2005). In his view there are two different language codes: Â  The restricted code- This language is used by both classes, but is more characteristic of the working-class people. It is used everyday amongst friends and family, which is informal and simple (such as slang). Bernstein argues that lower-class-working people are mainly limited to this form of language use. Â  The elaborated code- This is mainly used by the middle-class, and is spoken in a formal context, with explanation if required. It has a much wider vocabulary than the restricted code, and is the language that would be found in textbooks, essays and examinations. Bernstein has argued that as the language used in schools by teachers and in textbooks is the elaborated code, working class children are disadvantaged. They may find it hard to understand the elaborate language used in school, therefore their work will suffer. Unlike middle class children who are used to the language so will find the work easier. Differences have been found amongst the achievements of people from different ethnic backgrounds, possible reasons for this could be the differences in their cultural backgrounds, language barriers and understanding or suffering from racism. If English were not the first language for someone this would give him or her a large disadvantage in the understanding of the language, which would affect their work in most areas. Suffering from racism in or out of school would cause the pupil upset, which could affect their schoolwork. Many Pakistani, Bangladeshi and African Caribbean children have large families and are working class, so are likely so have deprived social conditions. These groups mentioned appear to have a below average reading ability and tend to get fewer and poorer GCSE results than white or Indian pupils. It can be seen on the below table they are the overall lowest achieving ethnic groups. Students that achieved 5 or more GCSE grades A*-C (%) Race Group 1989 1998 2002 Indian N/a 54 60 White 30 47 52 Bangladeshi N/a 33 41 Pakistani N/a 29 40 Black 18 29 36. (Department for Education and skills, 2004: in Livesley et al, 2005) From the data above it is clear that black children are the lowest achievers. In the past racist remarks have been made claiming that problem was they had lower levels of inherited intelligence. Which is untrue, in 1985 the Swann Report found that there was no significant difference between the IQs of black and white children, (Thompson et al, 1982). Black boys are often given labels such as unruly and difficult to control, due to how the teacher has interpreted them by their dress, manner or speech, and find them challenging. They are more often to be given detention than other pupils, and often feel unfairly treated, then respond in accordance with their label, self-fulfilling prophecy. Although they do not achieve well at school, the number of black women staying in education past the age of 16 is increasing, which may be influenced by the many future career opportunities available today. Kamala Nehaul (Parenting, Schooling and Caribbean Heritage Pupils 1999) has noted how black parents valued education for the enhanced life chances it offered. She also mentioned the encouragement and commitment from parents, talking about the school day and providing provisions needed for their child to study. Indian children do well within the education system, there is a strong emphasis on self-improvement through education within this culture. Many of these children have professional backgrounds, so have good role models and supportive parents and they also have material advantages. Differences in the achievement between gender, race and class will continue to be compared, though surely the person should be treated as an individual. Post-modern thinkers such as Elkind (1998), suggest a key characteristic here is the idea of difference and, in a sense, the fragment of identities. In other words, students want to be recognised and treated as unique individuals rather than as groups, (Livesey et al, 2005). Although a students background may effect their achievement, as evidence suggests, it must be remembered that everyone is an individual with their own abilities, no matter what race, class or gender they are, have the potential to achieve in education. A girl, black or white from a working class background may not have had any opportunities for a good career after education 50 years ago, due to inequalities in the system, but this is not the case today. Overall the educational achievements for all groups of people have improved. There will always be some people in all of the groups mentioned previously, that fail in education, as a result of self-gratification and now culture, they are more focused on living for the moment, and not thinking about how their actions during their education can effect their future life.

Sports Marketing Essay Example for Free

Sports Marketing Essay The business of sports is one of the fastest growing industries in the world. All over the globe, many people participate as players and spectators in a variety of sporting activities, creating opportunities for the marketing of a companys goods and services. An important part of the business of sports is sports marketing, which revolves around understanding consumer behaviour and motivating target markets to purchase goods and services. Sports marketing is simply any sales or publicity-related activity associated with an organised sporting event (or events), its personalities, or the celebrity lifestyle of its participants. There are two components of sports marketing; the marketing of sport and marketing through sports. Marketing of sport consists of the actual marketing of a particular sport such as rugby league or basketball. This includes, but is not limited to, signage, endorsements, print media, broadcast media, billboards, and news media. Examples of marketing through endorsements are Michael Jordan wearing Nike shoes or ex-rugby league player turned commentator Peter Sterlo Sterling on the Blue Haven Pool commercials. Any type of media that mentions a team or athletic organisations is an example of marketing through the use of media. WPT Enterprises, Inc. is a media and entertainment company engaged in the development, production, and marketing of gaming-themed, televised programming; the licensing and sale of branded consumer products; and the sale of corporate sponsorships. WPT Enterprises creates and produces the ? World Poker Tour which is a collection of poker tournaments featuring the worlds most professional and experienced players. It airs Wednesday nights at 9pm on the Travel Channel and consists of 16 high stakes poker tournaments filmed at glamorous locations throughout the world. It continues to be a rating juggernaut on the network. Each time the show has been aired, it viewers have grown ? often doubling its ratings over the two hour time slot. This long term deal allows the World Poker Tour to be a popular weekly fixture on the network, and provides a great promotional platform for the networks wide array of programs and series. In sports (poker in this particular instance), competition is the name of the game, but this competition is not just limited to the playing field (or card table), as sports teams (professional card players) and foundations continually compete for the support of fans, sponsors and governmental agencies ? this opens up the need for sports marketing programs. Sports marketing programs assist sports marketers who coordinate big sporting events in evaluating the success of their marketing and communications activities as well as the potential economic impacts of facilities, construction and expansion.

Emerging retail formats in india

Emerging retail formats in india Retailing has been defined as business activities involved in selling goods and services to consumers for their personal, family or household use (Berman and Evans, 2001). Although retailing has been around for millennia, the 20th century witnessed a lot of change in the retail sector, especially in the developed countries. Modern formats such as department stores, discount stores, supermarkets, convenience stores, fast food outlets, speciality stores, warehouse retailers and hypermarkets have emerged. Retailing has become more organized and chain stores have been growing at the expense of independent shops. The chains are utilizing sophisticated information technology and communication to manage their operations and have grown rapidly not only within their home countries like US, UK, France, Germany and Holland but to other developed countries. Walmart Stores, the US retailer, was recognized as the largest firm in terms of sales in 2002 in Fortune magazines list of 500 largest globa l firms. Modern retail formats have also spread beyond developed countries and are becoming more important in the NICs and developing countries. 3 The emergence of new formats and the evolution of modern retail in India has attracted attention in recent years. The business press in India has carried several articles and news items in the last three years about the modern formats (Shukla 2001; Anand Rajshekhar, 2001; Bhattacharjee, 2001). The consulting firm KSA Technopak has organized retail meetings or summits in major metros which have witnessed participation from major domestic and international retailers, and also from manufacturers. Venugopal (2001), has discussed the census studies of retail outlets that the market research firm ORG MARG conducted in the 1990s. This census provided data and estimates on a number of parameters relating to Indian retail such as number and type of outlets and growth of outlets over time separately for urban and rural areas. Due to these reports and activities, there is good deal of information available about what is happening in Indian retail. However Indian retailing has received sparse a ttention by way of academic research with the exception of a few articles in academic journals and some case studies. Purpose of the study. The purpose of this report is to develop an understanding of the factors influencing the evolution of modern formats in Indian retailing Objective of the study The report investigates modern retail developments and growth of modern formats in this country. The challenges and opportunities available to the retailers to succeed in this country. Literature review: Indian retailing is undergoing a process of evolution and is poised to undergo dramatic transformation. The retail sector employs over 8% of the national workforce but is characterized by a high degree of fragmentation with over 5 million outlets, 96% of whom are very small with an area of less than 50 m2 (Aggarwal, 2000). The retail universe more than doubled between 1978 and 1996 and the number of outlets per 1000 people at an All India level, increased from 3.7 in 1978 to 5.6 in 1996. For the urban sector alone, the shop density increased from 4 per 1000 people in 1978 to 7.6 per 1000 people in 1996 (Venugopal, 2001). Because of their small size, Indian retailers have very little bargaining power with manufacturers and perform only a few of the flows in marketing channels unlike in the case of retailers in developed countries, ( Sarma , 2000). The corner grocer or the kirana store is a key element in the retail in India due to the housewifes unwillingness to go long distances for purchasing daily needs. An empirical study was carried out by Sinha et al ( 2002) to identify factors that influenced consumers choice of a store. Although convenience and merchandise were the two most important reasons for choosing a store, the choice criteria varied across product categories. Convenience was indicated by consumers as the most important reason in the choice of groceries and fruit outlets, chemists and lifestyle items while merchandise was indicated as the most important in durables, books and apparel. The traditional formats like hawkers, grocers and paan shops co exist with modern formats like supermarkets, and non store retailing channels such as multi level marketing and teleshopping. Example of modern formats include department stores like Akbarallys , supermarkets like Food World, franchise stores like Van Heusen and Lee, discount stores like Subhiksha, shop-in-shops, factory outlets and service retailers ( Nathan , 2001). Modern stores tend to be larger, carry more stock keeping units have a self service format and an experiential ambience. Modern formats also tend to have higher levels of sales per unit of space, stock turnover and gross margin but lower levels of net margin as compared to traditional formats (Radhakrishnan, 2003). Modernisation in retail formats is likely to happen quicker in categories like Dry groceries, electronics, Mens apparel, Books, Music. Some reshaping and adaptation my also happen in Fresh groceries, Womens apparel, fast food, and personal care p roducts (Fernandes et al, 2000). In recent years, there has been a slow spread of retail chains in some formats like supermarkets, department stores, malls and discount stores. Factors facilitating the spread of chains are the availability of quality products at lower prices, improved shopping standards, convenient shopping and display, and blending of shopping withentertainment, and the entry of industrial houses like Goenkas, Rahejas, Piramals and Tatas into retailing ( Ramaswamy and Namakumari, 2002). However formats are not easily scalable across the country. Several companies have found that it is not easy to expand beyond some regions and cities as evident from the examples of Margin Free Market and Foodworld, which are active only in a few states or cities. Affordable real estate prices and availability of sufficient number of economically well off households in the catchment area are critical requirements that will determine new store viability and thus the possibility of further expansion (Anand and Rajashekhar, 2001). According to Rao (2001), foreign direct investment in the retail sector in India, although not yet permitted by government, is desirable, as it would improve productivity and increase competitiveness. New stores will introduce efficiency. Customers also gain as prices in the new stores tend to be lower. The consequences of modernization in India may be somewhat different due to lower purchasing power and the new stores may cater to only to branded products aimed at upper income segments. However it will be wise for old style stores to join together into wholesale and retail groups to improve bargaining power as experience in developed markets such as UK has shown that the modernization in retail has led to the decline of independent mom and pop stores. The need for a fresh perspective while developing theories to explain the new developments has been stressed by Bennett et al (1998). The Indian retail environment is witnessing several changes on the demand side due to increased per capita income, changing lifestyle and increased product availability. Experience of retailing in US shows that existing theories of retail development based on changing consumer needs, are inadequate to explain new developments. In developed markets, there has been a power shift with power moving from manufacturers towards retailers. The strategies used by retailers to wrest power include the development of retailers own brands, and the introduction of slotting allowances which necessitate payments by manufacturers to retailers for providing shelf space for new products. Retailers have also used technology effectively to obtain usable information about consumer buying patterns. The increased power of retailers has led to the introduction of new tactics b y manufacturers such as everyday low pricing, partnerships with retailers and increased use of direct marketing methods. Because of these issues, a supply side perspective needs to be fused with the demand side in developing theories for explaining modernization in retail. Research design: In order to fulfill the objectives of the study primary as well as secondary data have been collected to analyze the trends in modern retail formats meticulously. To analyze the emerging trends in shoppers behavior 30 shop keepers from 6 Malls operating in Ahmedabad will be interviewed. And for the rest part of the country secondary data published by different research institutions like TSMG, CSSO, Future Group, NCAER etc have been considered to draw the key inferences.

Sexual Education in High School Essay examples -- Education, Teenagers

High school is a time for teenagers to discover themselves, explore their futures, meet new people, try new activities, and become more independent. Along with the new opportunities comes peer pressure and tough decisions. Most of the decisions are basic like choosing to go shopping with friends instead of studying for a math test or skipping soccer practice to go on a date with a crush. The consequences of simple work or friends decisions are minor. The teenager may get a bad grade on the math test and have to run extra laps at practice the next day but his life will not be significantly altered. Some decisions, however, are more complicated. In high school teenagers begin to date and engage in physical contact such as kissing. As relationships become more serious, pressure to perform other sexual acts increases. In order to make the best choice on an important decision requires information and knowledge on the subject, risks, consequences, and options available. Without proper information in regards to sexual intercourse and the risks associated with such actions, teenagers cannot be expected to make the best decision when it comes to performing sexual acts. Comprehensive sexual education needs to be taught in American high schools to increase the knowledge of teenagers on the risks of sexual intercourse and the preventative measures available to reduce the risks so teenagers can make informed decisions. The risks associated with the performance of sexual acts include pregnancy, sexually transmitted diseases, and sexually transmitted infections. When the risks become reality, the lives of the affected teenager are changed negatively. Teen pregnancies inhibit the education of women with only â€Å"about half (51%) of [them rece... ...ple do not support teaching about or providing contraceptives to teenagers. In the article â€Å"Distributing Condoms in Schools Encourages Teen Sex†, John D. Hartigan wrote, â€Å"†¦ supplying teenagers with condoms inevitably produces a marked increase in their sexual activity† (11). Regardless of the availability of condoms and other forms of contraceptives, teenagers will still engage in sexual intercourse. The article â€Å"Effective Sex Education† by Brigid McKeon for the Advocates for Youth states the information, such as contraception use and availability, taught in â€Å"comprehensive sex education†¦ [does] not increase rates of sexual initiation† (12) The only difference between making contraceptives easily available to teenagers and preventing teenagers access to contraceptives is the number of teenagers who are unprotected from pregnancy and sexually transmitted illnesses.

My Philosophy of Education Essay -- Essays Papers

My Philosophy of Education "It is the supreme art of the teacher to awaken joy in creative expression and knowledge." -Albert Einstein The foundation for my philosophy of teaching is very simple. I believe that if I am bored, the students are bored. I structure my teaching methods and strategies towards grasping not only the interests of my students but of myself as well. This enables my students to take away a positive experience from the learning process. Many times students enter my classroom with the attitude that English is a tedious and boring subject. I feel it is my duty as an English teacher to remove this negative point of view by creating a positive learning environment. This environment should awaken joy in creative expression and knowledge in the areas of language and literature. I also believe that the teacher is an artist. This artist produces inspiration in students to question, to develop their own ideas, and to express themselves. This enables the student to become more enthusiastic about learning in the English classroom and learning throughout life. Literature should be used to help students create contexts and meanings for themselves. Close examinations of literature enable students to think critically about literature itself, as well as their own lives and decisions. Literature in the classroom should contain a variety of genres, authors, and cultures to engage students in looking at the world and their lives from different perspectives. Teaching grammar should fit within the literature being read and the works being composed, with connections to student work. It should be approached functionally, deriving its meaning and relevance from the classroom context. As a teacher, o... ...is created. It is important for educators to provide students with the keys to success. The curriculum is simply a strategy to facilitate the knowledge that will lead to success. It should provide the students with a broad foundation of skills and knowledge that will guide them throughout their lives. The language arts curriculum should be centered on text and subjects that encourage students to think and make informed decisions. Ultimately, the curriculum should be used to help students understand themselves and to see the possibilities in the world around them. If the teacher is indeed an artist and the student his or her work of art, the curriculum is the tool that enables the production of a masterpiece. References National Council of Teachers of English. (2003). Secondary Home Page. Retrieved January 21, 2003, from http://www.ncte.org/second/

8th grade graduation speech -- essays research papers

My fellow classmen, as we look back on our years here at school we should remember the meaningful words of a fellow class member of mine when she said, "Dude, where's my iPod?" It's hard for me to think of a better way to describe the many layers of adolescence, because deep down aren?t we all "dudes?" Do we not all have our inner "iPods", and are we not constantly searching for them? Now, we're leaving our childhood behind to study the vast sphere we call planet Earth, into the notorious world of high school, where things will be so much different. Of course we will still have our varied studies, Geometry, Biology, maybe even Forensics or an Accelerated English class here and there. We will still struggle with the daily setbacks formed by peers and strict teachers and principals. But so much of our lives will change. The cars in the parking lot will be driven by, well, students. Our male friends will grow a little fuzzy around the face, and of course, our day will most likely begin with a bell that actually works. As we face our freshman year with excitement and maybe even fear, l...

Inquiry-Based Essay Reflection Essay

Before walking in this course, I had it stuck in my head that intervening in a research paper was bad. I learned that it was ok to insert myself into the essay. I could intervene and put a couple of my own perspectives into the essay. In high school, it was prohibited to use your own perspectives and words into the essay. The only major thing I had to consider is having the content and my perspective balanced so that my paper could sound credible. Of course, there were advantages and disadvantages to writing inquiry-based research essays. I noticed several advantages when I was working on my inquiry-based research essay. First, I was given the opportunity to pick a topic. Though this made me think a lot, gathering hand-selected topics and choosing one to write about was beneficial. It made me rethink about what interested me and what bored me. For instance, in essay 3, I originally started with a topic about black holes in space. Initially, it seemed like an interesting thing to talk about. However, as I kept researching this paper, there were large amounts of physics formulas and concepts being mentioned and repeated. It kept scaring me and making me doubt writing about it. I was going nowhere with the essay. After much consideration, I disposed of the subject and started a new one. The new one was about music and its stimulation, thus giving the reader and I a common ground. Second, the grading after turning in would be fair. If everyone had to write about one topic, the grading would be based upon who wrote the better. But, with the option of choosing a topic, the grading would be more upon individuality and the concept’s presentation, making it fair for everyone. Like advantages, there are also disadvantages that I noticed when doing this type of work. First, when starting essay 3, I was uncertain about using â€Å"I†. In high school, I was taught to not use â€Å"I† at all in a paper. It was a struggle for me to use â€Å"I† because I did not know what to say. I felt as if the quotes would make my own opinions matter at all.