SHARE PREMIUM Definition

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SHARE PREMIUM is the difference between the higher price paid for a share of stock and the stocks par value when issued.

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AVERAGE SETTLEMENT PERIOD is calculated: For Debtors = Trade Debtors X 365 days / Credit Sales
For Creditors = Trade Creditors X 365 days / Credit Purchases.

RETURNS OUTWARDS are goods bought on credit from a supplier and returned for some reason to be refunded for (Purchases returns).

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