March 2016

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

By |2022-09-15T12:39:59+02:00March 7th, 2016|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

Simple Trading and Profit and Loss Account Example 2

By |2022-09-15T12:40:05+02:00March 5th, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit bhofinance.com

Image credit bhofinance.com ZIMSEC O Level Principles of Accounts Notes: Simple Trading and Profit and Loss Account 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 […]


Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Simple Trading and Profit and Loss Account Example 2

Sole Trader:Trading and Profit and Loss Account Example

By |2022-09-15T12:40:06+02:00March 5th, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit erekocynigit.com

Image credit erekocynigit.com ZIMSEC O Level Principles of Accounts Notes: Trading and Profit and Loss Account Example

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. A balance sheet […]


Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Sole Trader:Trading and Profit and Loss Account Example

The format of a Simple Trading and Profit and Loss Account

By |2022-09-15T12:40:08+02:00March 4th, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

image credit onlinecollegecourses.com

image credit onlinecollegecourses.com ZIMSEC O Level Principles of Accounts Notes: The format of a Simple Trading and Profit and Loss Account

The Name of the Business/Proprieter

NB The exact names and types of expenses and other income will vary from business to business you should […]


Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on The format of a Simple Trading and Profit and Loss Account

Sole Trader: Trading and Profit and Loss Account and Capital Accounts

By |2022-09-15T12:40:09+02:00March 3rd, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit clarkewillmott.com

Image credit clarkewillmott.com ZIMSEC O Level Principles of Accounts 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 […]

    Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Sole Trader: Trading and Profit and Loss Account and Capital Accounts

Terms used in the Trading and Profit and Loss account

By |2022-09-15T12:40:10+02:00March 3rd, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit clarkewillmot.com

Image credit clarkewillmot.com ZIMSEC O Level Principles of Accounts Notes: Terms used in the Trading and Profit and Loss account

Gross profit

  • is the excess of sales over the cost of goods sold
  • If the amount of cost of goods sold is more than the amount of sales the result […]

    Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Terms used in the Trading and Profit and Loss account

Uses and the importance of the Trading and Profit and Loss Account

By |2022-09-15T12:40:10+02:00March 3rd, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

image credit tiespecialistas.com.br

image credit tiespecialistas.com.br ZIMSEC O Level Principles of Accounts 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 […]

    Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Uses and the importance of the Trading and Profit and Loss Account

Introduction to the Trading and Profit and Loss Account

By |2022-09-15T12:40:11+02:00March 3rd, 2016|Notes, Ordinary Level Notes, Principles of Accounts Notes|

Image credit pixabay.com

Image credit pixabay.com ZIMSEC O Level Principles of Accounts 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 […]

    Quick NetOne, Econet, And Telecel Airtime Recharge

Comments Off on Introduction to the Trading and Profit and Loss Account
Go to Top