February 2025

Cambrige Notes: Cash Discount,Discount Received and Discount Allowed

By |2025-02-12T09:44:40+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: The Cash Book:Discount Received and Discount Allowed

  • Businesses prefer it if their customers pay quickly
  • Businesses may thus accept a sum slightly lower than the invoice amount in settlement of a debt if payment is made within a certain period
  • This reduction is known as a cash discount
  • Cash discount-an amount given in exchange and […]
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Cambrige Notes: Purchases Journal and the Purchases Ledger

By |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 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

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

By |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

By |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

By |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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