Scenario: Jemm Ltd has just bought a machine for £30,000 net for company use and paid VAT on the purchase and the total amount was paid through the bank account immediately. What will be the double entry posting for this? Double entry posting: DR: Machine account           £30,000 DR: VAT account … Read More

Make separate lists for issues in your career pursuit and issues in your personal life.  – Which of these issues are you dealing with? – Which ones are on the back-burner? – Which ones aren’t even in the kitchen? – What are the processes you use to deal with these issues? – Which issues are … Read More

There are four rules of time. Time Is Perishable: The first is that time is perishable. This means that it cannot be saved. In fact, time can only be spent. Because time is perishable, the only thing you can do with it is to spend it differently, to reallocate your time away from activities of … Read More

Scenario: On 20th April 20XX, Jemm Ltd bought a machine for £30,000 net for company use and paid VAT on the purchase and half of the total amount was paid through the bank account immediately and the balance will be paid at the end of next month. What will be the double entry posting for … Read More

Hello, Maybe you should ask yourself- what are your current objectives? Identify them and then, move on. The definition of sacrifice is giving up something of value for something of even greater value. Did you intend to give up that thing of value, or is it a thoughtless by-product of your other choices? Do not … Read More

Scenario: SAZZ Ltd has just bought a vehicle for £50,000 for company use and will pay for it next month. What will be the double entry posting for this? Double entry posting: DR: Vehicle account                       £50,000 CR: PLCA                                   … Read More

The one quality that all leaders have in common is that they have a clear and exciting vision for the future. This is something that only the leader can do. Only the leader can think about the future and plan for the future each day. Take the Time to Think: To become an excellent leader … Read More

Scenario: Talat Ltd has just bought a machine for £17,000 net for company use and paid VAT on the purchase and the total amount will be paid next month. What will be the double entry posting for this? Double entry posting: DR: Machine account                     £17,000 DR: VAT account                            £3,400 CR: PLCA                                       £20,400 Reason: The … Read More

Scenario: Talat Ltd has just bought a machine for £17,000 net for company use and paid VAT on the purchase and the total amount will be paid next month. What will be the double entry posting for this? Double entry posting: DR: Machine account                     £17,000 DR: VAT account                            £3,400 CR: PLCA                                       £20,400 Reason: The … Read More

Scenario: The owner of Raqut Services has just bought a vehicle for £60,000 for his personal use and he has paid for it through the business bank account. What will be the double entry posting for this? Double entry posting: DR: Drawings account                   £60,000 CR: Bank account                 … Read More