principles of accounts notes Archives - Free ZIMSEC & Cambridge Revision Notes

The contents of a Balance Sheet/Statement of Financial Position

By garikaib|2022-09-15T12:40:00+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

The balance sheet contains several items that have to be explained. Image credit alignmt.com

The balance sheet contains several items that have to be explained. Image credit alignmt.com ZIMSEC O Level Principles of Accounts Notes: The contents of a Balance Sheet/Statement of Financial Position

While a Balance Sheet could just be […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Principles of Accounting: Goodwill upon death or retirement of a partner
Gallery
Principles of Accounting: Goodwill upon death or retirement of a partner

Notes, Ordinary Level Notes, Principles of Accounts Notes

Principles of Accounting: Goodwill upon death or retirement of a partner

By garikaib|2022-09-15T12:32:43+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounting: Accounting for Partnerships: Goodwill and Partnership businesses: When a partner dies/retires

Death is an inevitable part of life
Sometimes a partner might die
Also in other instances a partner might choose to leave the business i.e. retire
In all the cases above the affected partner ends up leaving the business
Technically speaking this […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Cambrige Notes: Sales Journal and the Sales Ledger

By Garikai Dzoma|2022-09-15T12:30:57+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

An example of a Sales Day Book showing entries. Image credit vc-doubleentry.co.uk

Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Books of Original Entry: Sales Journal and the Sales Ledger

When cash or other payments e.g. Ecocash/Visa/MasterCard is received when […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Sole Trader: Simple Statement of Financial Position Example 1

By garikaib|2022-09-15T12:40:00+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Simple Balance Sheet Example 1

From the following trial balance of S Madondo, extracted after one year’s trading, prepare a trading and profit and loss account for the year ended 31 December 20X6 and a balance sheet as at 31 December 20×6

Inventory at 31 December 20X6 was $12,408

Solution

The […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Cambrige Notes: Principles of Accounting: Goodwill: Example entries when a new partner is admitted
Gallery
Cambrige Notes: Principles of Accounting: Goodwill: Example entries when a new partner is admitted

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

Cambrige Notes: Principles of Accounting: Goodwill: Example entries when a new partner is admitted

By Garikai Dzoma|2022-09-15T12:32:10+02:00January 24th, 2023|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: Example entries when a new partner is admitted

We have looked at entries to be made in the books when a new partner is admitted into the business
Now it is time to look at a simple example of the entries involved

Example Question

Partners Chinjekure and Mupfumi share […]

Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off

Cambrige Notes: The Cash Book
Cambrige Notes: The Cash Book

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

Cambrige Notes: The Cash Book

By Garikai Dzoma|2022-09-15T12:30:59+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cash Book Example. Frank Wood's Business Accounting I

Cash Book Example. Frank Wood’s Business Accounting I

ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book

The Cash Book consists of the cash account and the bank account put together in one book.
The result is that all monies paid […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Preparing a Trial Balance
Gallery
Preparing a Trial Balance

Notes, Ordinary Level Notes, Principles of Accounts Notes

Preparing a Trial Balance

By garikaib|2022-09-15T12:41:41+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: Preparing a Trial Balance

As already said a trial balance is extracted from the ledger accounts by listing all the credit and debit balances that are in the entity’s books at the end of each trading period.
The following steps are involved in the extraction and preparation of a trial balance:
Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Sole Trader: Simple Balance Sheet Example 2

By garikaib|2022-09-15T12:40:00+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit udiscover-psbedu.paris

Image credit udiscover-psbedu.paris ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Simple Balance Sheet Example 2

From the following trial balance of J Nhiwatiwa after his first year’s trading, you are required to
draw up a trading and profit and loss account for the year ended 30 June […]

Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off

Cambrige Notes: Principles of Accounting: Goodwill upon death or retirement of a partner
Gallery
Cambrige Notes: Principles of Accounting: Goodwill upon death or retirement of a partner

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

Cambrige Notes: Principles of Accounting: Goodwill upon death or retirement of a partner

By Garikai Dzoma|2022-09-15T12:32:10+02:00January 24th, 2023|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 partner dies/retires

Death is an inevitable part of life
Sometimes a partner might die
Also in other instances a partner might choose to leave the business i.e. retire
In all the cases above the affected partner ends up leaving the business
Technically […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

Cambrige Notes: Cash Book Entries to record Cash Deposited into the Bank
Cambrige Notes: Cash Book Entries to record Cash Deposited into the Bank

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

Cambrige Notes: Cash Book Entries to record Cash Deposited into the Bank

By Garikai Dzoma|2022-09-15T12:31:00+02:00January 24th, 2023|Cambridge O Level/ IGSCE Accounts Notes, Notes, Ordinary Level Notes|

Cash Book Example. Frank Wood's Business Accounting I

Cash Book Example. Frank Wood’s Business Accounting I

ZIMSEC O Level Principles of Accounts: Books of Original Entry: Cash Book Entries to record Cash Deposited into the Bank

If a business receives cash from its customers and
The cash is later paid into (deposited) […]
Quick NetOne, Econet, And Telecel Airtime Recharge

Number to recharge:

Airtime amount ($):

EcoCash number:

Comments Off

January 2023

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Example Question

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

Quick NetOne, Econet, And Telecel Airtime Recharge

2022 O Level Results Out