{"id":3825,"date":"2023-10-05T19:36:41","date_gmt":"2023-10-05T19:36:41","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=3825"},"modified":"2023-10-05T19:37:11","modified_gmt":"2023-10-05T19:37:11","slug":"week-5-6-and-7-ss3-first-term-book-keeping-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-5-6-and-7-ss3-first-term-book-keeping-notes\/","title":{"rendered":"Week 5, 6 and 7 &#8211; SS3 First Term Book Keeping Notes"},"content":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0<strong>WEEK FIVE (5) TO SEVEN (7)<\/strong><br \/>\n\t\t<strong>SOURCES OF CAPITAL<br \/>\n<\/strong><strong>Meaning<br \/>\n<\/strong><strong>A.\u00a0\u00a0\u00a0\u00a0THE ACCOUNTANT POINT OF VIEW<br \/>\n<\/strong><strong>\u00a0\u00a0\u00a0\u00a0<\/strong>Accountants define capital as the original fund or money with which a person used to start a business. He considers capital as synonymous with money. Capital in this wise is the owner&#8217;s equity assets over liabilities.<\/p>\n<p>\u00a0<strong>B.\u00a0\u00a0\u00a0\u00a0THE ECONOMIST POINT OF VIEW<br \/>\n<\/strong><strong>\u00a0\u00a0\u00a0\u00a0<\/strong>Economists must define capital as the resources or wealth made by men that are used for producing further wealth.<\/p>\n<p>\u00a0<strong>C.\u00a0\u00a0\u00a0\u00a0THE LAYMAN&#8217;S UNDERSTANDING<br \/>\n<\/strong>\u00a0\u00a0\u00a0\u00a0To the layman, capital is the total amount of money for running a business.<\/p>\n<p>\u00a0<strong>SOURCES OF CAPITAL<br \/>\n<\/strong><strong>A.\u00a0\u00a0\u00a0\u00a0SOLE PROPRIETORSHIP<br \/>\n<\/strong>\u00a0\u00a0\u00a0\u00a0The sole proprietor can obtain his capital from the following sources.<br \/>\n\u00a0\u00a0\u00a0\u00a0i.\u00a0\u00a0\u00a0\u00a0Personal savings<br \/>\n\u00a0\u00a0\u00a0\u00a0ii.\u00a0\u00a0\u00a0\u00a0Loan from friends<br \/>\n\u00a0\u00a0\u00a0\u00a0iii.\u00a0\u00a0\u00a0\u00a0Trade credit<br \/>\n\u00a0\u00a0\u00a0\u00a0iv.\u00a0\u00a0\u00a0\u00a0Loan and overdraft from bank<br \/>\n\u00a0\u00a0\u00a0\u00a0v.\u00a0\u00a0\u00a0\u00a0Grants\/Loans from government.<br \/>\n<strong>B.\u00a0\u00a0\u00a0\u00a0THE PARTNERSHIP<br \/>\n<\/strong><strong>\u00a0\u00a0\u00a0\u00a0<\/strong>i.\u00a0\u00a0\u00a0\u00a0Loan and overdraft<br \/>\n\u00a0\u00a0\u00a0\u00a0ii.\u00a0\u00a0\u00a0\u00a0Trade credit<br \/>\niii.\u00a0\u00a0\u00a0\u00a0Personal contributions from partners.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0WEEK FIVE (5) TO SEVEN (7) SOURCES OF CAPITAL Meaning A.\u00a0\u00a0\u00a0\u00a0THE ACCOUNTANT POINT OF VIEW&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,296],"tags":[],"class_list":["post-3825","post","type-post","status-publish","format-standard","hentry","category-posts","category-first-term-ss3-book-keeping"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=3825"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3825\/revisions"}],"predecessor-version":[{"id":3826,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/3825\/revisions\/3826"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=3825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=3825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=3825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}