Cambridge O Level/ IGSCE Accounts Notes Archives - Page 11 of 19

Cambrige Notes: Purchases Journal and the Purchases Ledger

By Garikai Dzoma|2025-02-12T08:57:44+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

An example of entries being made in a Purchases Day Book. Image credit rtahosting.co.uk

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Purchases Journal and the Purchases Ledger

As has already been said transactions are first recorded […]

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Cambrige Notes: Principles of Accounting: Discount Received entries simple example
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Cambrige Notes: Principles of Accounting: Discount Received entries simple example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Discount Received entries simple example

By Garikai Dzoma|2025-02-12T09:01:25+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Source Documents: Three Column Cash Book: Discount Received entries simple example

We have looked at the concept of Discount Received here
In this topic we will look at entries that can be used to record discount received
One thing to be wary off is that different suppliers will likely have different […]

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Cambrige Notes: Sole Trader: Trading and Profit and Loss Account and Capital Accounts
Cambrige Notes: Sole Trader: Trading and Profit and Loss Account and Capital Accounts

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Sole Trader: Trading and Profit and Loss Account and Capital Accounts

By Garikai Dzoma|2025-02-12T09:04:32+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Terms used in the Trading and Profit and Loss account

The Trading and Profit and Loss Account is not balanced off at the end of the trading period
This means there are in no corresponding “balance b/d” in the books
Instead the Net Profit increases the capital of the owner
This […]

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Cambrige Notes: Differences between Ordinary and Preference Shares
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Cambrige Notes: Differences between Ordinary and Preference Shares

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Differences between Ordinary and Preference Shares

By Garikai Dzoma|2025-02-12T09:07:48+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

ZIMSEC O Level Commerce Notes: Differences between Ordinary and Preference Shares

To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes.

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Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example
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Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Solution to Appropriation Account Example

By Garikai Dzoma|2025-02-12T09:21:42+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Solution to Appropriation Account Example

This is a solution to a question that is found here
You can also find the introduction to appropriation accounts here

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level […]

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Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted
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Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Goodwill: When a new partner is admitted

By Garikai Dzoma|2025-02-12T09:25:08+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Accounting for Partnerships: Goodwill and Partnership businesses: When a new partner is admitted

It is not uncommon for a partnership business to admit a new partner
This is happens for any number of reasons including:
- To admit a partner with new skills
- When the firm is expanding
- To replace a partner […]

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Cambrige Notes: Principles of Accounting: Statement of Affairs Example
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Cambrige Notes: Principles of Accounting: Statement of Affairs Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Statement of Affairs Example

By Garikai Dzoma|2025-02-12T09:28:30+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Single entry and Incomplete records: Statement of Affairs Example

We have explained what a Statement of Affairs is
Now we will look at an example of how to prepare a Statement of Affairs

Question

W Soja started his business on 1 April 20X2 with $35,000 in a bank account. Unfortunately
he did not keep […]

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Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation
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Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Calculating/Estimating depreciation

By Garikai Dzoma|2025-02-12T09:31:23+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Calculating/Estimating depreciation

Before it is entered in the books depreciation has to be calculated
Where an accurate figure cannot be estimated an estimate has to be used
It is entirely up to the business in question to choose an appropriate way of calculating depreciation for each class of assets
Whatever the […]

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Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example
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Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Solution to Manufacturing Accounts Example

By Garikai Dzoma|2025-02-12T09:34:52+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Example question Manufacturing Accounts

This is a solution to a Manufacturing Account question that was posted here
The introduction to Manufacturing Accounts and concepts related to the topic can be found here
We explored the nature and format of Manufacturing Accounts here
We will start by showing the […]

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Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example
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Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes

Cambrige Notes: Principles of Accounting: Purchases Control Accounts Example

By Garikai Dzoma|2025-02-12T09:38:08+02:00February 12th, 2025|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Purchases Control Accounts Example

Now that we have examined Purchases Control Accounts in detail
It is time to look at an example:

You are required to prepare a purchases ledger control account from the following for the month of April. The balance of the account is to be taken as the amount […]

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February 2025

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

Question