Introduction
Good Day Grade 11 leaners, todays lesson is about accounting equation we will continue as we have already started this topic yesterday .i will give you individual activity as a test just to see if you did understand what i have taught you yesterday.
Task
Date: 26 August 2021 ACTIVITY 1. ACCOUNTING EQUATION
Read the transaction below and complete an accounting equation. Marks ( 25)
a. The owner has contributed R100 000 into the business account to start the business.
b. We have received R20 000 from the the fixed deposit we have made from the beginning of the year.
c. Bought Equipment worth R75 000,we paid half of it cash and the other half will be paid in 3 equal installment starting from next month.
d. Sold trading stock for R4600 on credit(Cost price R2500).
e. We sold trading stock for R50 000 on cash.
f. Z Ntsitshe(debtor) paid R4 500 in settlement of her debts and was granted discount of R600.
g. We bought stock worth R40 000 cash from AB Msila Store.
h. R15 000 was paid to a creditor called Ketelo Stores .
i. Bought Trading stock worth R15 000 from Kopolo Stores on credit.
Process
use the information below to get more understanding or insight for the above activity.
Evaluation
Marks Grid
|
Question number |
Mark allocation |
|
A |
3 |
|
B |
3 |
|
C |
3 |
|
D |
4 |
|
E |
4 |
|
F |
2 |
|
G |
3 |
|
H |
3 |
|
I |
3 |
|
|
|
Conclusion
These an activity 12.1 in page 186 that i would like you all to do at home and submit your books before the first period start in order for me to mark your books before our period starts tomorrow you may all go for the next period. You are allowed to ask question before you go home if you have any question. I will be in my office i'm free starting from this period. when you are done with the homework, read the next general ledger accounts .