Monday, December 9, 2019

ASSIGNMENT ON ACC 111-PRINCIPLES OF ACCOUNTING 1 FOR BOTH FULL TIME AND PART TIME


                    PATRIOT ODUNARO B.J (08038454008)

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ASSIGNMENT 1:

Without Book-Keeping there wouldn`t be Accounting. Discuss


ASSIGNMENT 2:

Sogbae Nigeria Limited provides the following information relating to its accounts for three years as shown in the table below:
Year
Capital
Profit
Returns on Capital

N
N
%
2018
750,000

45
2017
450,000
90,000

2016
500,000

35
Required:
(i) Calculate profits for year 2016 and 2018.
(ii) Calculate returns on capital for year 2017.
(iii) Calculate percentage increase in profit between year 2017 and 2018.
(iv) Calculate percentage decrease in profit between year 2016 and 2017.
(v)  Calculate increase in capital between year 2017 and 2018.
(vi) Calculate decrease in capital between year 2016 and 2017.
Hints: show all formular and workings

NOTE: TO BE SUBMITTED ON  6TH DECEMBER, 2019 TO THE CLASS GOVERNOR(S) ON OR BEFORE 9A.M.


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41 comments:

  1. Thanks for this assignment sir it really helps
    DAMILARE IDOWU ESAN (BA/ND1/FT/191440ES

    ReplyDelete
  2. The last class was interesting and thank you for the assignment.. we'll work on it

    ReplyDelete
  3. Thanks for the assignment sir it really helps sir.....WILL BE EXPECTING MORE FROM YOU SIR.
    BA/ND/FT/191441AN

    ReplyDelete
  4. Ogbonnaya ifeoma BA/nd1/ptd1944og
    Thanks for the info sir

    ReplyDelete
  5. Adebayo Azeez BA/ND/PTD/1945AD.
    According to Adebayo Azeez (2019) Accounting can be defined as a process of keeping financial accounts

    ReplyDelete
  6. Tnx for the assignment sir...and tnx for ur broad n educative teachings.....Anekwe Amaka

    ReplyDelete
  7. OGUNFUNWA TOYOSI SEGUN

    BUSINESS ADMINISTRATION (ACC 111)

    ACCORDING TO ME "ACCOUNTING CAN BE DEFINED AS THE PROCESS OF CALCULATING, ANALYSING, BALANCING OF DAY TO DAY TRANSACTIONS"

    ReplyDelete
  8. Adebara Damilola
    Business Administration
    The last class was a blessing and I learnt a lot from the class

    ReplyDelete
  9. Adeseun Emmanuel
    Accounting Nd1
    Lovely assignment and we'll need more of this
    God bless

    ReplyDelete
  10. Adewale Ibrahim
    Business Administration
    Nd1

    Thank you for the assignment sir

    ReplyDelete
  11. Achuka Fred
    Nd1 Accounting

    Thank your for the class and the assignment sir
    And thanks for sending me to the back sir.

    ReplyDelete
  12. According to oghenkaro (2019)
    Accounting is the measurement and communication and information about economic.
    It also the standard-setter accouting fime and professional bodies

    ReplyDelete
  13. Acc/nd/ft/19572TI
    Thanks so much for the assignment sir
    It really helps me alot
    And also I love the educative way you teach

    ReplyDelete
  14. Bamise oluwabusayo
    Nd 1 accounting

    Thank you sir for the assignment. We will work on it

    ReplyDelete
  15. Thanks sir,We really appreciate ur Support.

    ReplyDelete
    Replies
    1. Ayanniyi Temitayo
      Acc/ND/FT/19574AY
      Accountancy Department ND1

      Delete
  16. Samuel Favour Amarachi
    cs/ND/FT/19568SA
    Thank you sir for the assignment and class assessment

    ReplyDelete
  17. Agbasimere Tovia Chinaza
    Acc/nd/ptd/1957AG
    Accounting

    Thank you sir for the assignment

    ReplyDelete
  18. Happiness Opeoluwa Martins
    Accounting department

    Thank you for the assignment sir

    ReplyDelete
  19. According to the law of Muhammed Adumbo Fatimah,accounting is defined as systematic way of interpreting financial transactions of a business in a ledger account of business organisation.

    ReplyDelete
  20. Thank you sir assignment done
    Nwokoye Lilibell Acc/ND/PTD/1917NW

    ReplyDelete
  21. Halima Al-bashir
    Computer science department
    Thank you for the assignment sir Allah bless

    ReplyDelete
  22. Ajanaku Omolara
    CS/ND/FT/19566AJ
    Thanks sir.

    ReplyDelete
  23. Folorunsho Oluwafeyifunmi
    Ba/Nd/Ft
    Thank you sir

    ReplyDelete
  24. Ogunsola Ayomipo
    ACC/ND1/ft
    Good day sir

    ReplyDelete
  25. GROUP C ASSIGMENT
    NAME DEPARTMENT POSITION MATRIX NO.
    MUHAMMED ADUMBO FATIMAH PRESIDENT BA/ND/FT/191443MU
    ADESINA TOYIN MOJISOLA BUSINESS ADMIN. MEMBER BA/ND/FT/191444AD
    FOLORONSHO OLUWAFEYIFUNMI REBECCA BUSINESS ADMIN. MEMBER BA/ND/PTF/
    ABDULSAMAD FARIDAH BUSINESS ADMIN. MEMBER BA/ND/PTF/
    EGAR ANITA AKONG BUSINESS ADMIN. MEMBER BA/ND/FT/191427EG
    DURUAKUBUO JUDITH BUSINESS ADMIN. MEMBER BA/ND/PTD/1951DU
    THOMAS CECILIA BUSINESS ADMIN. MEMBER BA/ND/FT/191439TH
    AKINPELU IYANU COMPUTER SC. MEMBER CS/ND/PTD
    AJANAKU OMOLARA COMPUTER SC. MEMBER CS/ND/FT/19566AJ
    OLAJIDE ENIOLA BUSINESS ADMIN. MEMBER BA/ND/FT/191428OL

    QUESTION 1. IDENTIFY THE INDUSTRY.
    Nigerian Petroleum Corperation (NNPC).
    QUESTION 2. THE WEBSITE.
    www.nnpcgroup.com
    QUESTION 4. SOCIAL RESPONSIBILITY.
    As a social responsible organization, the NNPC delivers its corperate social responsibility (CRS)objective in line with global best practices. The corperation therefore guided by social environmental and safety standards as obtain in the oil and gas industry, operate safety and ethically with all our stakeholders.

    ReplyDelete
  26. QUESTION 3. NNPC FINANCIAL STATEMENT OF ACCOUNT FOR THE YEAR 2018 ENDING DECEMBER 31ST
    Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18
    NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion NGNMillion
    Revenue 36.16 9.21 9,560.32 36,910.01 6,678.61 39,554.21 23,275.19 13,453.84 8,666.09 66.18 67.78 1,990.72 9,587.44
    Crude + Frieght (COGS) 0.00 0.00 -5,978.08 -42,888.01 -2,991.84 -43,942.55 -23,700.40 -15,636.34 -9,782.80 0.00 0.00 -1,688.01 -8,890.47
    Opex -1,781.39 -2,687.32 -3,452.33 -3,219.74 -3,111.61 -2,775.63 -2,744.48 -2,598.81 -2,531.13 -2,775.11 -2,931.44 -3,286.91 -3,217.83
    Operating Surplus/Deficit-1,745.23 -2,678.12 129.91 -9,197.73 575.16 -7,163.96 -3,169.69 -4,781.31 -3,647.84 -2,708.93 -2,863.66 -2,984.20 -2,520.86
    Revenue 15,477.03 -902.89 -849.62 1,845.44 27,208.01 -807.96 77.12 305.75 2.30 1,369.92 1,192.53 883.79 1,245.52
    Crude + Frieght (COGS) -17,475.12 0.00 0.00 -1,946.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
    Opex -2,404.89 -3,275.62 -2,965.13 -2,528.82 -24,250.68 -3,415.96 -3,057.28 -2,655.99 -2,684.80 -2,904.67 -3,289.52 -3,573.08 -3,074.19
    Operating Surplus/Deficit -4,402.98 -4,178.51 -3,814.75 -2,629.45 2,957.33 -4,223.92 -2,980.16 -2,350.24 -2,682.50 -1,534.75 -2,096.99 -2,689.29 -1,828.67
    Revenue 50,714.89 27,069.34 27,304.10 3,638.98 27,065.53 19,530.67 36,173.00 18.54 6.35 4.81 2.21 2.85 26.99
    Crude + Frieght (COGS)-51,662.65 -28,883.61 -28,264.60 0.00 -17,306.52 -20,919.42 -40,399.48 0.00 0.00 0.00 0.00 0.00 0.00
    Opex -3,999.32 -4,915.22 -3,409.71 -3,701.32 -6,969.88 -7,305.17 -4,133.68 -3,336.18 -4,469.03 -2,734.11 -4,367.88 -3,914.40 -12,994.49
    Operating Surplus/Deficit -4,947.08 -6,729.48 -4,370.22 -62.33 2,789.14 -8,693.92 -8,360.16 -3,317.64 -4,462.68 -2,729.30 -4,365.67 -3,911.55 -12,967.50
    Revenue 66,228.08 26,175.66 36,014.80 42,394.44 60,952.16 58,276.92 59,525.30 13,778.13 8,674.74 1,440.91 1,262.52 2,877.36 10,859.95
    Crude + Frieght (COGS)-69,137.76 -28,883.61 -34,242.68 -44,834.08 -20,298.36 -64,861.97 -64,099.88 -15,636.34 -9,782.80 0.00 0.00 -1,688.01 -8,890.47
    Opex -8,185.60 -10,878.16 -9,827.17 -9,449.87 -34,332.17 -13,496.76 -9,935.44 -8,590.98 -9,684.96 -8,413.89 -10,588.84 -10,774.39 -19,286.51
    Operating Surplus/Deficit -11,095.28 -13,586.11 -8,055.05 -11,889.51 6,321.63 -20,081.80 -14,510.02 -10,449.19 -10,793.02 -6,972.98 -9,326.32 -9,585.04 -17,317.03

    ReplyDelete
  27. GROUP F ASSIGNMENT
    NAME.MATRIX NUMBER.DEPARTMENT.NATURE
    INIOVOSA DANIEL OGHENEKEWE PRESIDENT
    BA/ND/FT/191434IN BUSINESS ADMIN
    OGUNFUNWA TOYOSI SEGUN SECRETARY
    BA/ND/FT/ BUSINESS ADMINI
    AKIENKAYE MARY MEMBER
    BA/ND/FT/191442AK BUSINESS ADMIN
    BAMISE MARY OLUWABUSAYO MEMBER
    ACC/ND/FT/19576BA ACCOUNTING
    ISAAC AYOMIDE(ND2) MEMBER
    OTM/ND/FT/18103MO OTM
    ADEBUNMI RAZAK(ND2) MEMBER
    OTM/ND/FT/18101AD OTM
    OJO DEBORAH MIRACLE(ND2) MEMBER
    ACC/ND/FT/18571OJ ACCOUNTING
    NWOKOYE LILIBELL C. MEMBER
    ACC/ND/PTD/1917NW ACCOUNTING
    MARTIAS HAPPINESS OPECTUUA MEMBER
    ACC/ND/FT/ ACCOUNTING
    JOHN ESTHER LINDA MEMBER
    ACC/ND/FT/PTD/1920JO ACCOUNTING

    ReplyDelete
    Replies
    1. QUESTION 1. IDENTIFY THE SECTOR(BANKING SECTOR).
      QUESTION 2. INDUSTRIES(BANKING INDUSTRIES).
      QUESTION 3. COMPANY(UBA BANK OF NIG) (*919#).
      QUESTION 4. WEBSITE(HTTPS://WWW.UBAGROUP.COM).

      Delete
  28. UNITED BANK FOR AFRICA PLC
    Consolidated and Separate Financial Statements for
    the year ended 31 December 2018.
    nued)
    42 Related parties and insider related credits - continued
    In millions of Nigerian naira
    Name of company/
    individual
    Name of Director Facility Type Security Status Rate Currency Dec. 2018 Dec. 2017
    Bridge House College Mrs. Foluke Abdulrazaq Term loan
    (Under CBN
    MSMEDF)
    Real
    Estate
    Performing 9.0% NGN 15 28
    Advance Link Petroleum Ltd Alh. Ja'afaru Paki Overdraft Real
    Estate
    Performing 25.0% NGN - 96
    Heirs Holdings Mr. Tony O. Elumelu Term Loan Real
    Estate
    Performing 14.0% NGN 6,324 8,676
    Heirs Holdings Mr. Tony O. Elumelu Term Loan Real
    Estate
    Performing 16.0% NGN 18,637 -
    Aneke Angela Nkiruka** Aneke Angela Nkiruka Overdraft Real
    Estate
    Performing 19.0% NGN 39 -
    Abdulqadir J. Bello** Abdulqadir J. Bello Term Loan Real
    Estate
    Performing 18.0% NGN 15 -
    25,030 8,800
    **Appointed as Directors during the year;hence existing loans prior to appointment now reported as Directors'loans
    Dec. 2018 Dec. 2017
    Interest income earned during the period 1,995 476
    Deposit liabilities
    Deposit liabilities relating to key management personnel and their related persons and entities as at end of the period is as follows:
    In millions of Nigerian Naira Dec. 2018 Dec. 2017
    Deposits as at period end 2,535 2,798
    Dec. 2018 Dec. 2017
    Interest expense during the period 93 52
    Compensation
    Aggregate remuneration to key management staff during the period is as follows: Dec. 2018 Dec. 2017
    In millions of Nigerian Naira
    Executive compensation 814 405
    Defined contribution plan 23 12
    Total benefits cost 837 417
    43 Compensation to Employees and Directors
    (i) The number of persons in the employment of the Group and the Bank as at period end is as follows:
    (In absolute units) Group Group Bank Bank
    Dec. 2018 Dec. 2017 Dec. 2018 Dec. 2017
    Group executive directors 9 9 9 9
    Management 90 103 68 81
    Non-management 12,790 11,852 9,505 8,737
    12,889 11,964 9,582 8,827
    Compensation for the above personnel (including executive directors): Dec. 2018 Dec. 2017 Dec. 2018 Dec. 2017
    In millions of Nigerian Naira
    Salaries and wages 68,487 66,839 40,278 41,016
    Retirement benefit costs:
    Defined contribution plans 2,671 2,133 1,259 1,327
    71,158 68,972 41,537 42,343

    ReplyDelete
  29. Replies
    1. (A). State the component of financial statement UBA bank.
      1. Significant accounting policies
      2. Classification and measurement of financial liabilities
      3. De-recognition of financial instrument
      4. Wite-off loans
      5. Modifications
      6. Credit-impaired financial assets
      7. Major activities and business review
      8. Dividend

      Delete
  30. (B). THE SOCIAL RESPONSIBILITY FOR UBA.
    As the corporate social responsibility arm of the UBA Group, UBA Foundation is committed to the socioeconomic betterment of the communities in which the bank operates, Focusing on development in the areas of Education, Environment, Economic Empowerment and special project.

    ReplyDelete
  31. SECRETARY OBSERVATION. 10th of December 2019(FIRST MEETING).
    Firstly, I observe that our Group is complicated because we have different members from different departments but we sat together discussed and we all concluded that we are Using UBA BANK from the banking sector and we will all make a research and gain something, so that we can all have the idea of our company and no one will be left out and I think that is the best option for each one of us and am sure we will benefits a lot from the project.

    ReplyDelete
  32. SECRETARY OBSERVATION 2. 13th of December 2019(SECOND MEETING).
    Secondly, I observe that we gather our research and it was Fantastic, so we have decided to summit after finding out the Component only and we have all done the research regarding the financial statement and the social responsibility.

    ReplyDelete
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