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 […]

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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
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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 […]


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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 […]

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Sales Journal and the Sales Ledger

By |2022-09-15T12:41:28+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

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

An example of a Sales Day Book showing entries. Image credit vc-doubleentry.co.uk ZIMSEC O Level Principles of Accounts Notes: Books of Original Entry: Sales Journal and the Sales Ledger
  • When cash or other payments e.g. Ecocash/Visa/MasterCard is received when […]

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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 […]


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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

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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 […]

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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 […]

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G Musandu Solution:Trading and Profit and Loss Account

By |2022-09-15T12:39:58+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Trading and Profit and Loss Account for G Muasandu. Image credit fidato.ca

Trading and Profit and Loss Account for G Muasandu. Image credit fidato.ca ZIMSEC O Level Principles of Accounts Notes: Sole Trader: Trading and profit and loss accounts and balance sheets: Other items
  • This is a solution to the question […]

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