January 2023

Determining whether an account has a debit or credit balance

By |2022-09-15T12:41:40+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

image credit tahitidance.com image credit tahitidance.com

ZIMSEC O Level Principles of Accounts Notes:Determining whether an account has a debit or credit balance

  • Sometimes in a bid to confuse you during the examination examiners will present you with a jumbled list of balances which might require you to determine whether the accounts […]
Comments Off on Determining whether an account has a debit or credit balance

Trading and profit and loss accounts and balance sheets: Other items

By |2022-09-15T12:39:59+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Trading and Profit and Loss Accounts. Image credit caonline.com.au Trading and Profit and Loss Accounts. Image credit caonline.com.au ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

Comments Off on Trading and profit and loss accounts and balance sheets: Other items

Cambrige Notes: Principles of Accounting: Bad Debts and Provision for Doubtful Debts Example

By |2022-09-15T12:31:44+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: Bad Debts and Provision for Doubtful Debts Example

A business, which started trading on 1 January 20X7, adjusted its doubtful debt provision at the end of each year on […]

Comments Off on Cambrige Notes: Principles of Accounting: Bad Debts and Provision for Doubtful Debts Example

Cambrige Notes: Introduction to the Trading and Profit and Loss Account

By |2022-09-15T12:31:04+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: Introduction to the Trading and Profit and Loss Account

  • The profit/loss of a business is calculated by preparing a trading and profit and loss account
  • It is sometimes called only the profit and loss account in error
  • It is also more accurately known as the: Statement of Comprehensive Income
  • It is […]
Comments Off on Cambrige Notes: Introduction to the Trading and Profit and Loss Account

Sole Trader Final Accounts:G Musandu Trial Balance Question

By |2022-09-15T12:39:59+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Trial balance. image credit vpg.lt Trial balance. image credit vpg.lt ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items

From the following trial balance of G Musandu, draw up a trading and profit and loss account for the year ended 30 […]

Comments Off on Sole Trader Final Accounts:G Musandu Trial Balance Question

Cambrige Notes: Principles of Accounting: The Sales Ledger

By |2022-09-15T12:31:26+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: The Sales Ledger

Comments Off on Cambrige Notes: Principles of Accounting: The Sales Ledger

Cambrige Notes: Uses and the importance of the Trading and Profit and Loss Account

By |2022-09-15T12:31:05+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: Uses and the importance of the Trading and Profit and Loss Account

  • People set up businesses to make a profit
  • Profit is the main objective of most privately owned businesses
  • However a business may fail to make a profit
  • The business may make a loss instead
  • The owners of a business […]
Comments Off on Cambrige Notes: Uses and the importance of the Trading and Profit and Loss Account

The Cash Book

By |2022-09-15T12:41:03+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts 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 and […]
Comments Off on The Cash Book
Go to Top