Thomas Sowell on the Housing Boom and Bust

Thomas Sowell discusses how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust.

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Mod-4 Lec-1 Materials Management-I

Lecture Series on Industrial Engineering by Prof.Inderdeep Singh , Department of Mechanical and Industrial Engineering, IIT Roorkee. For more details on NPTEL visit nptel.iitm.ac.in

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Robert Nicholls - Impact of 4 °C acceleration in all-around boilerplate temperature on sea akin rise

Prof. Robert Nicholls from the University of Southampton, Centre for Coastal Processes, Engineering and Management, School of Civil Engineering and Environment, talks about the impacts of sea level rise. www.fco.gov.uk

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Control Systems Engineering - Lecture 1 - Introduction

Lecture 1 for Control Systems Engineering (UFMEUY-20-3) and Industrial Control (UFMF6W-20-2) at UWE Bristol. This lecture covers introduction to the module, control system basics with some examples, and modelling simple systems with differential equations.

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Lecture - 20 Routing - I

Lecture Series on Data Communication by Prof.A. Pal, Department of Computer Science Engineering,IIT Kharagpur. For more details on NPTEL visit nptel.iitm.ac.in

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Minecraft Architecture - E02 - Bridges

Welcome to episode 2 of Minecraft Architecture, on today's video I will talk about bridges. I introduce you couple bridges I have pre-build and I show you how to build the difficult one. I hope you enjoy the video and if so, please subscibe! Website: martenus.weebly.com Donate: martenus.weebly.com Texture pack: Mixcraft HD Realistic Music: World of Warcraft soundtrack, Glitch Mob - Animus Vox Mods used for flying, inta destroy, infinite bars: I use a Zombe's Modpack, www.minecraftforum.net

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NFPA 13 Occupancies for Sprinkler Design

An assortment of building occupancy examples are classified in Sec. A.5.2 of the NFPA 13 Appendix. The following are noted as light hazard occupancies: offices, churches, schools, museums, auditoriums, library seating areas, restaurant seating areas, and unused attics. The maximum sprinkler spacing (protection area) for these is noted in Table 8.6.2.2.1(a) if standard sprinklers are used. Usually, the maximum limit is 225 square feet for light hazard on a hydraulically calculated system. However, when exposed construction is combustible, with structural members spaced less than 3 ft. apart, the maximum coverage limit shrinks to 130 square feet.

Ordinary hazard Group 1 occupancies include laundries, restaurant service areas, and automobile parking garages. Ordinary hazard Group 2 occupancies include the aforementioned dry cleaners, automobile repair and services areas, auditorium stages, woodworking plants, post offices, and stack room areas of libraries. Standard sprinklers protecting all ordinary hazard occupancies shall not cover an excess of 130 square feet per head (Table 8.6.2.2.1(b).

Extra hazard occupancy examples include printing plants, paint and varnish dipping operations, plywood manufacturing, solvent cleaning, and plastics processing. Maximum sprinkler spacing for these occupancies is limited to 100 square feet. However, where the required design density is less than 0.25 gpm/sf (and this goes for high-piled storage as well), a protection area of up to 130 square feet per sprinkler is allowable (Table 8.6.2.2.1-c). It should be noted that commercial insurance carriers and consultants develop their own literature containing more extensive listings of occupancy examples and classifications than does the NFPA 13 standard, data which often comes in handy when making an occupancy classification determination.

Design Density Criteria

The NFPA 13 Density / Area Curves are found in Fig. 11.2.3.1.1. When hydraulically calculating a light hazard sprinkler system, the design density utilized is typically 0.10 gpm/sf over a 1500 square foot (the most hydraulically demanding) area of operation. To begin a calculation, the designer starts with the end-sprinkler and works "backwards" to the water supply source. Suppose that the sprinklers are spaced 14 ft. apart on branch-lines that are 12 ft. apart. Our square foot coverage then, is (12 x 14) 168 square feet.

Q (in gpm) is determined by multiplying the density by the square foot coverage (.10 x 168), so we know that we'll need 16.8 gallons per minute (Q) discharging out of the end sprinkler.

The square root of the required end-head pressure is determined by "Q" divided by "K". If the design density is 0.10 and the K-factor of the sprinkler head is 5.5, we can ascertain our end-head pressure by dividing 16.8 by 5.5, and squaring the sum to obtain a 9.33 psi figure. 9.33 psi is the required end-head pressure. To double-check, we can simply plug in the numbers while performing the following equations to ensure that they match: Q= K times the square root of the pressure, K= Q divided by the square root of the pressure, and the design density equals Q divided by the square foot coverage. If our area of operation remains 1500 square feet, our design density will change to 0.15 for Ordinary hazard Group 1 occupancies and 0.20 for Ordinary hazard Group 2 occupancies.

Everything changes when extended-coverage sprinklers are employed. Let's suppose that we decide to extend our coverage to 324 square feet in a light hazard office, spacing sprinklers 18' x 18' apart. Now we must refer to the sprinkler manufacturer's data sheets for direction. If we choose to install Tyco EC-11 pendent sprinklers, the data sheets dictate that our end-sprinkler must discharge a minimum of 33 gpm at 8.7 psi. This means that our design density (Q divided by the square foot coverage) is still 0.10 gpm/sf. The K-factor of this particular sprinkler is 11.2, which we can validate by the equation K= Q divided by the square root of the pressure.

Extended-coverage sprinklers for ordinary hazard occupancies work the same way. For example, we could use the Tyco EC-14 extended-coverage pendent sprinkler (K=14.0) in a (Ordinary hazard group 1) restaurant service area to protect an 18' x 18' area, but here the data sheet parameters require a 49 gpm minimum discharge at 12.3 psi for the end-sprinkler. In other words, Q= 49, K= 14.0, the square root of the pressure is 3.51, and the coverage is 324 square feet. All the equations match, including the required design density (0.15) which is obtained by dividing Q by the 324 sq. feet. Of course, the local water supply must still be able to satisfy the resulting overall sprinkler system demand. In order for that to be accomplished, larger system piping is installed to deliver the additional gpm necessitated by the extended-coverage heads.

Sprinkler discharge characteristics are outlined in cogent form in Table 6.2.3.1- these outline the differing K-factors for sprinkler identification. One other handy table to reference for sprinklers in NFPA 13 is Table 6.2.5.1, which deals with classifications and temperature ratings.

To be absolutely certain of code compliance with respect to sprinkler elevations, we refer to Sec. 8.6.4.1 in NFPA 13. The allowable distances noted beneath roofs, beams, or ceilings are always measured to the sprinkler deflector. It is acceptable for designers to consult data sheets for appropriate distances below ceilings for specific sprinkler types, although the safe bet is to call for a distance between 1" and 12" beneath the underside of the roof deck. The closer sprinklers are to the ceiling, the faster they will operate. But caution must be exercised because often serious interferences to lateral water distribution can result from very close sprinkler placement to the ceiling. For all instances, the minimum of 1 inch (in the code) is to allow for the installation and removal of upright sprinklers. When sprinklers are installed beneath pitched roofs, the highest sprinkler deflector (Sec. 8.6.4.1.3.1) may extend 3 ft. down from the highest peak.

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Princeton apparatus delivers 3D complete from accustomed Laptop speakers

Edgar Choueiri, a professor of mechanical and aerospace engineering at Princeton University, has developed a way to play true three-dimensional sound recordings over regular loudspeakers, such as those found in televisions and computer laptops. The technique may one day be used to allow 3D televisions to produce lifelike sound and to help people with certain types of hearing impairments locate noises. Segments of the video above incorporate Choueri's 3D filter to demonstrate the phenomenon. The filter is designed to work with loudspeakers - not headphones - and can be experienced through standard computer speakers. (Make sure the right and left speakers are on the correct sides.) Video by Michael E. Wood.

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Lecture - 4

Lecture Series on Structural Analysis II by Prof. P. Banerjee, Department of Civil Engineering, IIT Bombay For more Courses visit nptel.iitm.ac.in

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The Mazda Story - The Touch of Mazda

Can a door made out of paper influence an automobile? More stories about the engineering and craftsmanship behind every Mazda at www.mazda.co.uk

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What is a Supplier Development Program?

A Supplier development program is actually a procedure by an organization to improve its supplier's capabilities. This program may be interpreted as a company's attempt to replicate or to transfer some of its in-house organizational capability across the company boundaries.

Theoretically automakers in automotive industry may send their own engineers to the shop floor of supplier to solve a problem with a specific component to meet the product reveals date. Or it may be possible that they may provide training courses for employees of supplier in techniques like Value Engineering, Quality Circles and Simultaneous Engineering. They may also ask a supplier with a view to learn and to work on specific production line for extended period to achieve quality improvement, cost reduction etc.

Supplier Assessment is a strategy. It means that a buying firm makes an id-depth evaluation of quality of supplier in cost, delivery, technical and managerial capability. Providing the suppliers with feedback is the most important part of the assessment process so that they know about the buyer expects and also to provide the supplier with directions for improvement.

Within this area, Supplier Incentives are another developing strategy. In this strategy, the focus is to give the supplier extended business if they can attain a certain goal. All these market based incentives are based on a performance of supplier and are designed to make the supplier perform even more good.

The third strategy is Competitive Pressure and applied by buying company to its suppliers when it's using more than one supplier. The goal is to buy from the supplier which is most competitive on the market and their focus is on low prices.

When buying firm directly, direct Involvement activities involves itself in the supplier development effort and important investment by the buying firm through activities like education and training of a personnel supplier.

So, I hope now you understand the strategy of this program.

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Aplicaciones de PROFINET en la Industria Automotriz

© Este video es propiedad de Siemens AG

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shatheeshl.blogspot.com http shatheeshl.co.cc communication easy steps exclusively made for those who are lacking in communication..this video 'll lead you to face an interview confidentially and alot more other communication stuffs.. Enjoy!

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Lecture 2 | Programming Methodology (Stanford)

Lecture by Professor Mehran Sahami for the Stanford Computer Science Department (CS106A). In the second lecture, Professor Sahami introduces Karel and shows the commands associated with the program. CS106A is an Introduction to the engineering of computer applications emphasizing modern software engineering principles: object-oriented design, decomposition, encapsulation, abstraction, and testing. Uses the Java programming language. Emphasis is on good programming style and the built-in facilities of the Java language. Complete Playlist for the Course: www.youtube.com CS106A at Stanford Unversity: www.stanford.edu Stanford Center for Professional Development: scpd.stanford.edu Stanford University: www.stanford.edu Stanford University Channel on YouTube www.youtube.com

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Berkeley Bionics: Introducing eLEGS

October 13, 2011 UPDATE: Berkeley Bionics has been rebranded. The company is now known as Ekso Bionics and eLEGS has become Ekso. On Oct. 7, 2010, we unveiled the eLEGS Professional device, an exoskeleton for paraplegics or individuals with lower-extremity weakness who are committed to living life to its fullest. It powers you up to get you standing and walking. berkeleybionics.com The eLEGS Professional exoskeleton will be distributed to leading rehabilitation centers in the United States by January 2012. Berkeley Bionics plans to make the eLEGS Personal exoskeleton available for use in the home during 2013. The eLEGS Professional device will undergo investigational studies at leading rehabilitation centers in the United States. The studies will entail reciprocal information sharing and learning, including defining clinical protocols. Each eLEGS Center will conduct ongoing research while offering the device for the rehabilitation of their patients. Questions about Ekso? You will find many answers here www.eksobionics.com Want to contact us about Ekso? Write us here: CustomerRelations@eksobionics.com Media inquiries? www.eksobionics.com

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What is Material Engineering?

I believe that most of the people out there have not heard of this field, materials engineering. Surely you've heard of the traditional fields of engineering such as mechanical, electric, electronic, civil and chemical. So what exactly is this type of engineering all about?

It is not a new field in engineering at all. Historically, the study on materials is not as extensive as it is now. Not to be confused with materials science however, both fields strive to discover more knowledge of the existing materials around us.

Materials science mostly focuses on the basic study of materials, which includes basic mathematical formulae and also the foundation physics of materials. Materials engineering on the other hand concentrates on the development of new materials for industrial and user applications.

Take this basic example to illustrate the focus of this type of engineering. We've seen the rise of LCD TVs in the recent years. In the next few years, LED TVs would most probably dominate the market for slim TVs. Previously, the colours which could be emitted by an LED were limited to red and yellow.

The development of newer materials to produce different colours completes the red, green and blue spectrum. Before this, blue LEDs were almost non-existent. With these new materials for LEDs, electric and electronics engineers are then able to put everything together to produce the LCD TV we now have.

The field of materials engineering is very wide. In order to achieve further technological breakthroughs, material engineers are now looking towards customizing materials from the inside out, in nano scale.

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Learn The Amazing "Walking Dime" Coin Trick - Scam School

www.youtube.com Magic Tricks Revealed!!! See our latest episodes! youtube.com Never Miss New Shows - Subscribe for Free! www.youtube.com Twitter twitter.com Facebook facebook.com Watch some of our other shows! youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com REVISION3 is a TV network for the internet generation! ------- Setup: In any restaurant with a tablecloth, set a dime between two nickels, and set an upside-down glass balanced on the two nickels. The Challenge: get the dime out from it's prison without touching the glass or the coins, AND without touching anything with another object. Note: I like to add the extra red herring of saying they can use "anything on the table" to make it work. That way, they'll spend more time focusing on random objects, and less time thinking outside the box. We've done puzzles here on Scam School before, but never have we had one with such an unfair setup, or such a surprising solution.

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Lecture - 1 Introduction to programming languages

Lecture Series on Programming Languages by Dr.S.Arun Kumar, Department of Computer Science & Engineering ,IIT Delhi. For more details on NPTEL visit nptel.iitm.ac.in

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Steve Jobs' 2005 Stanford Commencement Address

Drawing from some of the most pivotal points in his life, Steve Jobs, chief executive officer and co-founder of Apple Computer and of Pixar Animation Studios, urged graduates to pursue their dreams and see the opportunities in life's setbacks -- including death itself -- at the university's 114th Commencement on June 12, 2005. Transcript of Steve Jobs' address: news-service.stanford.edu Stanford University channel on YouTube: www.youtube.com

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Mod-2 Lec-4 Welding

Lecture Series on Design of Steel Structures by Dr.Damodar Maity, Department of Civil Engineering ,IIT Guwahati. For more details on NPTEL visit nptel.iitm.ac.in

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THE NEWS THAT COULD KILL US ALL .wmv

BP will leave the cap on the oil well while it vacates the area for a number of days to avoid the coming tropical storm. What could possibly go wrong? One expert warns that increasing pressure might have an unintended danger: Bill Gale, a California engineer and industrial explosion expert who is a member of the Deepwater Horizon Study Group, said... that gas hydrate crystals could be plugging any holes in the underground portion of the well, and they could get dislodged as pressure builds. (Gale was formerly Chief Loss Prevention Engineer for Bechtel in San Francisco, obtained his undergraduate degree in Chemical Engineering, Masters in Civil Engineering and PhD in Fire Safety Engineering Science from the University of California, Berkeley. Gale is a registered professional engineer in both mechanical engineering and fire protection engineering, and has more than forty years of industrial loss prevention, process safety management, and fire protection/fire safety engineering experience.) In other words, there may have been a destruction of a portion of the steel well casing which was temporarily plugged by methane hydrate crystals. Leaving the well cap may slowly raise the pressure in the well to the point where the hydrate crystals are dislodged, in which case the well might really start leaking. Sound farfetched? Maybe. But remember that the "top hat" containment dome failed because it got plugged up with methane hydrate crystals. And remember that there's a lot of ...

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Lec 4 | MIT 16.885J Aircraft Systems Engineering, Fall 2005

The Decision to Build the Shuttle View the complete course: ocw.mit.edu License: Creative Commons BY-NC-SA More information at ocw.mit.edu More courses at ocw.mit.edu

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NJ Install of a Super Therm White Roof Obama/Chu Initiative air-conditioned roof

www.NJRenewableEnergy.com US Energy Secretary Steven Chu said Tuesday the Obama administration wanted to paint roofs an energy-reflecting white, as he took part in a climate change symposium in London. The Nobel laureate in physics called for a new revolution in energy generation to cut greenhouse gas emissions. But he warned there was no silver bullet for tackling climate change, and said a range of measures should be introduced, including painting flat roofs white. Making roads and roofs a paler colour could have the equivalent effect of taking every car in the world off the road for 11 years, Chu said. It was a geo-engineering scheme that was completely benign and would keep buildings cooler and reduce energy use from air conditioning, as well as reflecting sunlight back away from the Earth. I would add that by reducing the urban heat island effect (along with shade tree planting), white roofs are also the lowest cost adaptation strategy, directly cooling a city. So it is perhaps the one true triple play in climate — mitigation, geo-engineering, and adaptation — that is also both low-cost and scalable. For people who found white hard on the eye, scientists had also developed cool colours which looked to the human eye like normal ones, but reflect heat like pale colours even if they are darker shades. And painting cars in cool or light colours could deliver considerable savings on energy use for air conditioning units, he said. Speaking at the start of a symposium on ...

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Adjustments of Final Accounts

To ensure that the final accounts disclose the true trading results, it is necessary to lake into account the whole of the expenses incurred, whether paid or not, and whole of the losses sustained. Likewise the incomes and gains earned, whether actually received or not, during the period covered by the trading and profit and loss account under consideration must also be recorded.

In mercantile system of accounting, it is essential to adjust different accounts before the preparation of final accounts. It is quite common to adjust expenses paid in advance, incomes received in advance, income accrued but not received, bad debts, provision for bad debts depreciation on assets and soon. Journal entries are passed to effect the required adjustments, these entries are known as adjusting entries.

Usual Adjustments

Outstanding Expenses

Certain expenses relating to a particular period may not have been paid in that accounting period. All such expenses which are due for payment in one accounting year but actually paid in future accounting years or payment of which is postponed are all outstanding or unpaid expenses. All such expenses must be accounted for in that accounting year in which they are incurred, irrespective of the fact whether they are paid or not. In other words, all paid and also unpaid expenses must be recorded in an accounting year if they relate to that accounting year only with a view to ascertain true trading results e.g. if salaries for the last month are not paid, no entry will appear in books of accounts unless these are paid. So profit and loss account in respect of salaries will thus be under charged than the actual expenditure, therefore the profit will be more.

Prepaid Expenses

The, benefit of some of the expenses already spent will be available in the next accounting year also, Such a portion of the expense is called pre-paid expense; since such expenses are already paid, they are also recorded in the books of accounts of that period to which they do not relate. The result shown by the final accounts of a particular period will not be correct because such expenses relate to future periods. Therefore, such prepaid expenses must be adjusted in the books of accounts to arrive at true profit. Generally insurance, taxes, telephone subscriptions, rent etc. are paid in advance, thus requiring adjustment e.g. Rent paid by x for one year on 1.7.79 when his accounting year is calendar year; thus rent for 6 months will remain unexhausted and will be c/f to the next year.

Accrued Income

There may be certain incomes which have been earned during the year but not yet received till the end of the year. Income like interest on investments, rent and commission etc. are normally earned by merchant during a particular accounting period but actually not received during that period. Such income items need adjustments before the preparation of final accounts. Such incomes should be credited to that particular income account. At the same time the income so -earned but not received is an asset because the amount is still to be received.

Income Received in Advance

Sometimes, traders receive certain amounts during a particular trading period which are to be earned by them in future periods. Such incomes though actually received and therefore, recorded i.e. not yet earned. Such incomes should be credited to the profit and loss account of the year in which these are earned. Therefore, such income though received is not the income but a liability of that period

Closing Stock

It represents the unsold stock at the end of the year. Closing stock is valued and following entry is passed at the end of the year: Closing Stock account To Trading Account Closing stock at the end appears in the balance sheet and is carried forward to the next year. At the end of the next year it appears in the trial balance as opening stock and from there it is taken to debit side of trading account and thus closed.

Depreciation

The value of fixed assets diminishes gradually with their use for business purposes. Although this decrease in the value happens every day but its accounting is done only at the end of accounting period with the help of following entry :Depreciation account To Particulars asset

Interest on Capital

The proprietor may wish to ascertain his profit after considering the interest which he losses by investing his money in the firm. Interest to be charged is an expense for the business on one hand and income to the proprietor on the other hand. Following adjusting entry is recorded at the end of accounting period: Interest on capital a/e To Capital a/c Interest on capital being an expense is debited to profit and loss account and same amount of interest on capital is added to capital.

Interest on Drawings

As business allows interest on capital it also charges interest on drawings made by the proprietor. Interest so charged is an income for the business on one hand and expense for the proprietor on the other hand. Following adjusting entry is passed at the end. of accounting period: Capital ale Dr. To Interest on drawings a/e The interest on drawings being an income is credited to profit and loss account is shown as a deduction from the capital.

Bad Debt to be written off

Bad debts are irrecoverable debts from customers, during the course of the financial year. These are recorded as follows: Bad debts a/c To Sundry Debtors a/c It results in the reduction of customers debit balance and addition to the loss i.e. Bad Debts. At the end of the year when the trial balance is drawn, these two accounts show debit balances. The balance on sundry debtors account, thus arrived, is the net balance, after deduction of any bad debts recorded during the year. But after the trial balance is prepared and before the final accounts are drawn trader may find that there are additional bad debts. Such bad debts must be recorded with the same adjusting entry and giving it following effect in ledger and final accounts.

Provision for Bad Debts

At the end of the year, after writing off the bad debts about whom we were sure of becoming irrecoverable, there may still be some customer balances from whom it is doubtful to collect the entire amount. However, it cant be written off as bad because non-recovery of such amount is not certain. But at the same time the balance in sundry debtors account should be brought down to its net realizable figure so that balance sheet may not exhibit the debtors at more than their actual realizable value. Therefore, to show the approximately correct value of the sundry debtors in the balance sheet a provision or reserve is created for possible bad debts. Such an adjustment entry is recorded at the end of accounting year.

Provision for bad debts is an attempt to anticipate possible losses due to bad debts and to keep aside an amount out of profit to meet the loss estimated in the following years. When the provision for bad debts is created, following entry is recorded:

Profit and Loss A/c Dr. To Provision for bad debts A/c

Some important considerations while creating provision for bad debts

(i) Sundry debtors account should not be credited with the amount of provision for doubtful debts because the loss has not actually been incurred.

(ii) Treatment of bad debts or provision for bad debts appearing inside the trial balance. If some balance (credit) is already appearing in provision for doubtful debts account inside the trial balance, it is the previous years unutilized balance of this account. If some bad debts are also appearing on the debit side of the trial balance, these should be transferred to provision for bad debts account, with the help of following entry: Provision for bad debts a/e To Bad debts a/e. It is important to note that, as these items appear inside the trial balance, so these are to appear only in profit and loss account as debtors have already been reduced during the year.

(iii) When bad debts and provision for bad debts appear in trial balance, new provision is to be created and further bad debts are to be written off. If already bad debts and provision for bad debts are appearing in trial balance, these should be adjusted and only difference should be taken to profit and loss account.

If bad debts written off plus bad debts to be written off plus new provision for bad debts is more than the credit balance of old provision appearing in the trial balance, the difference should be debited to profit and loss account.

Provision for discount on Debtors

It is normal practice in trade to allow discount to customers for prompt payment and it constitutes a substantial sum. Sometimes the goods are sold on credit to customers in one accounting period where as the payment of the same is made by them in the next accounting period and so discount is to be allowed. It is a prudent policy to charge this expenditure to the period in which sales have been made, so a provision is created in the same manner, as in case of provision for doubtful debts

An important point to note is that no discount win be allowed on debts that become bad. Therefore, the provision required for discount will be in respect of the other debts only. So the amount of provision for discount be calculated after deducting the provision for bad debts from sundry debtors.

Provision for discount on creditors

Prompt payment, if made, enables a businessman to receive discount. The question arises whether this discount should be treated as income of the period in which purchases were made or of the period when the payment is made, if both events are in different accounting years, it has been well decided by accountants that it should be treated as income of the period in which purchases are made. So on last date of accounting period if some amount is still payable to creditors, a provision should be created for such probable income and amount should be credited to the profit and loss account of that year in which purchases are made. Following adjusting entry is passed for it :Provision for discount on creditors a/c Dr. To Profit and loss account

Losses by Accidents

Sometimes a business suffers certain losses not because of trading but because of certain accidents. These may destroy some fixed assets of the merchant. In such a case the asset account is credited and the profit and loss account is debited.

If goods (stock-in-trade) are lost by accident the value of closing stock win be lower than otherwise. This will reduce the amount of gross profit. So the cost of goods lost by accident is credited to the trading account and debited to the profit and loss account. The increase -in gross profit will be neutralized by the debit to the profit and loss account and thus the net profit will not be effected. The entries to the passed are as follows: Loss by accident a/c To Goods lost by accident a/c

Commission to manager payable on profits

Sometimes the manager is entitled to a commission on profits.. Such commission may be :

(a) Fixed percentage on net profits before charging such commission.

(b) Fixed percentage on net profits- after charging such commission.

Such commission being an expense is debited to commission account. However, as it has not yet been paid, so commission payable account is given the credit and finally it is shown in the balance sheet as a liability. Calculation of Commission First of all trading account should be prepared in usual manner and after transferring the gross profit or loss all expenses and incomes should be debited or credited except the commission which is still to be calculated.

Goods used in business

Sometimes goods purchased for the purpose of resale are used in business as giving them away for charitable purpose or distributing them as free samples. In these conditions purchases account should be credited with an amount equal to the cost of goods used in business and same amount is debited to charity or advertisement expenses account, as the case may be.

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