Principles of Accounts Notes Archives - Page 3 of 19 - Free ZIMSEC & Cambridge Revision Notes

Principles of Accounting: Statement of Financial Position Example
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Principles of Accounting: Statement of Financial Position Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Statement of Financial Position Example

By garikaib|2018-03-07T10:11:27+02:00March 7th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Financial Statements Example

This is the second part solution to the question that was posted here
The first part of the solution to this question can be found here
It examines the basic structure of Financial Statements of partnerships
In this part we will examine the structure […]
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Principles of Accounting: Income Statement and Appropriation Account Example
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Principles of Accounting: Income Statement and Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Income Statement and Appropriation Account Example

By garikaib|2018-03-07T09:41:33+02:00March 7th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Financial Statements Example

This is the first part solution to the question that was posted here
It examines the basic structure of Financial Statements of partnerships
In this part we will look at the Income Statement and Appropriation Account for Save and Moyo

Solution

Save and Moyo

Income Statement and Appropriation […]
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Principles of Accounting: Partnership Financial Statements Example
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Principles of Accounting: Partnership Financial Statements Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnership Financial Statements Example

By garikaib|2018-03-07T10:10:21+02:00March 7th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Partnership Financial Statements Example

As already said elsewhere partnerships also prepare Financial Statements at the end of every period
These do not differ much from say those of a Sole Trader
Financial Statements of a Partnership include:
An Income Statement for the period ended
An Appropriation account for the […]
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Principles of Accounting: Solution to Appropriation Account Example
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Principles of Accounting: Solution to Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Solution to Appropriation Account Example

By garikaib|2018-03-05T13:44:40+02:00March 5th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: 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 Principles of Accounts Notes.

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Principles of Accounting: Appropriation Account Example
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Principles of Accounting: Appropriation Account Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Appropriation Account Example

By garikaib|2018-03-05T13:50:45+02:00March 5th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Appropriation Account Example

You can find the introduction to Appropriation Accounts here
Having introduced them we will now look at an example

Example Question Appropriation Account

Gandanga, Waeni and Banda are partners. They share profits and losses in the respctive ratios

\tfrac{3}{8} : \tfrac{3}{8}: \tfrac{1}{4}
For the year ended 31 December […]

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Principles of Accounting: The Appropriation Account
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Principles of Accounting: The Appropriation Account

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: The Appropriation Account

By garikaib|2018-03-05T10:07:50+02:00March 5th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships:The Appropriation Account

Apart from a few nuances partnerships prepare normal financial statements
These are almost indistinguishable from those of Sole Traders
They include the usual Income Statement ( Trading and Profit and Loss Account) and the Statement of Financial Position
If this is a manufacturing partnership the Manufacturing Account is […]
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Principles of Accounting: Solution to Capital and Current Accounts example
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Principles of Accounting: Solution to Capital and Current Accounts example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Solution to Capital and Current Accounts example

By garikaib|2018-03-05T08:32:43+02:00March 5th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Capital and Current Accounts Example

We have already looked at capital and current accounts here
This is the solution to the question posted here
We will use fixed capital accounts and current accounts to show the entries

The Capital Accounts

The Current Accounts for the partners

This hopefully […]
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Principles of Accounting: Capital and Current Accounts Example
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Principles of Accounting: Capital and Current Accounts Example

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Capital and Current Accounts Example

By garikaib|2018-03-05T08:43:52+02:00March 2nd, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Capital and Current Accounts Example

Bearing in mind what we have said in the introduction to capital and current accountshere
And the basic guidelines here
It is important to add the fact in this topic will mostly deal with making entries into Capital and Current Accounts among […]
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Principles of Accounting: Partnerships: Basic guidelines when answering questions
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Principles of Accounting: Partnerships: Basic guidelines when answering questions

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnerships: Basic guidelines when answering questions

By garikaib|2018-03-02T10:34:29+02:00March 2nd, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Capital and Current Accounts

As we will continue to emphasize throughout the topic
You ought to pay attention to the requirements of the question and follow these
Where there are no guidelines or the question is silent remember the following provisions:
- Profits and losses are to be shared equally

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Principles of Accounting: Partnerships: Capital and Current Accounts
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Principles of Accounting: Partnerships: Capital and Current Accounts

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Partnerships: Capital and Current Accounts

By garikaib|2018-03-02T10:35:27+02:00March 2nd, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Capital and Current Accounts

Like a normal business partnerships are formed when their owners (partners) inject capital into the business
While the principles of recording capital are the same as those of a Sole Trader business
There are certain differences that need to be borne in mind
One of these […]
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Principles of Accounts Notes

March 2018

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Solution

Save and Moyo

Income Statement and Appropriation […] Quick NetOne, Telecel, Africom, And Econet Airtime Recharge Number to recharge: Airtime amount: EcoCash number: {{error_message}} {{error_message}} If anything goes wrong, chat with us using the chat feature at the bottom right of this screen

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Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

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Example Question Appropriation Account

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The Capital Accounts

The Current Accounts for the partners

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2020 Grade 7 Results out

Income Statement and Appropriation […]
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