January 2023

The trial balance

By |2022-09-15T12:41:48+02:00January 24th, 2023|Notes, Ordinary Level Notes, Principles of Accounts Notes|

ZIMSEC O Level Principles of Accounts Notes: The trial balance

  • It has already been explained that at the core of accounting is the double entry principle.
  • The principle states that there are two aspects or sides to every transaction: a debit and a credit.
  • A trial balance is a list of all the debits and all the credits […]
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Preparing a Trial Balance

By |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:
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    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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    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: Sole Trader Final Accounts:G Musandu Trial Balance Question

    By |2022-09-15T12:31:09+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: 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 September 20X9, and a balance sheet as at that date.

    G Musandu

    Trial Balance as at […]

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    Cambrige Notes: The trial balance

    By |2022-09-15T12:30:54+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 trial balance

    • It has already been explained that at the core of accounting is the double entry principle.
    • The principle states that there are two aspects or sides to every transaction: a debit and a credit.
    • A trial balance is a list of all the debits and all the […]
    Read More
    Comments Off on Cambrige Notes: The trial balance

    Cambrige Notes: Preparing a Trial Balance

    By |2022-09-15T12:30:54+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: 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 […]
    Read More
    Comments Off on Cambrige Notes: Preparing a Trial Balance

    Cambrige Notes: Determining whether an account has a debit or credit balance

    By |2022-09-15T12:30:55+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: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 should be on the debit side or credit side of the trial balance.

      • […]

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    Comments Off on Cambrige Notes: Determining whether an account has a debit or credit balance
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