B/KEEPING FORM 3

Home BOOK KEEPING B/KEEPING FORM 3

TOPIC 11: INCOMPLETE RECORDS | B/KEEPING FORM 3

Statements Showing Profit or Loss From Incomplete Records Draw up statements to show profit or loss from incomplete records Some times, businesses, especially small businesses...
BOOK KEEPING FORM THREE

TOPIC 9: MANUFACTURING ACCOUNT | B/KEEPING FORM 3

Manufacturing Account Difference in Accounting for Stocks between Manufacturing Companies and Merchandising Companies Explain the difference in accounting for stocks between manufacturing companies and merchandising companies The...

TOPIC 8: BALANCE SHEET (CLASSIFIED) | B/KEEPING FORM 3

Meaning of Each Asset and Liability Classification Appearing on a Balance Sheet Define each asset and liability classification appearing on a balance sheet A classified balance sheet...

TOPIC 7: FINANCIAL STATEMENTS | B/KEEPING FORM 3

General Purpose Financial Statements Describe general purpose financial statements Financial Statements Definition: Financial statements are a collection of reports about an organization’s financial results, financial condition, and cash flows. They...
BOOK KEEPING FORM THREE

TOPIC 6: BAD DEBTS | B/KEEPING FORM 3

The Bad Depts Account Show the bad debts account What are bad debts? The term bad debts usually refers to accounts receivable (or trade accounts receivable) that will not be...

TOPIC 5:DEPRECIATION | B/KEEPING FORM 3

Cost of a Fixed Asset Determine the cost of a fixed asset Depreciation is the systematic reduction in the recorded cost of a fixed asset. Examples of fixed...

TOPIC 4: CAPITAL EXPENDITURE AND REVENUE EXPENDITURE | B/KEEPING FORM 3

Meaning of Capital Expenditure and Revenue Expenditure Give the meaning of capital expenditure and revenue expenditure Capital Expenditure Payments made in cash or cash equivalents over a period...
BOOK KEEPING FORM THREE

TOPIC 3: ADJUSTMENTS | B/KEEPING FORM 3

Adjusting entries are accounting journal entries that convert a company’s accounting records to theaccrual basis of accounting.An adjusting journal entry is typically made just...
BOOK KEEPING FORM THREE

TOPIC 2: CORRECTION OF ERRORS | B/KEEPING FORM 3

Wrong Entries Identify wrong entries An accounting error is a non-fraudulent discrepancy in financial documentation. The term is used in financial reporting. Types of accounting errors include: ...
BOOK KEEPING FORM THREE

TOPIC 1: GENERAL JOURNAL | B/KEEPING FORM 3

The Purpose of General Journal Explain the purpose of the General journal You are an accounting student; you do not need to be told just how...

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