Summary Grade 9 EMS (Accounting) Summaries - Term 1 (Via Afrika)

Sample
Summaries after sample

, Posting of cash transactions of a trading
business from Cash Receipts Journal and
Cash Payments Journal to General Ledger
• Posting from the CPJ:
T3: Financial - Credit Bank and write total payments in the details column.
literacy: General - Debit all other accounts and write Bank in the details
columns.
Ledger and Trial • Posting from the CRJ:
balance (sole - Debit Bank and write total receipts in the details column.
trader) - Credit all other accounts and write Bank in the details
columns.


Sample • Posting Cost of sales in the CRJ:
- Debit Cost of sales with the total of the Cost of sales
column and write Trading stock in the details column.
• Pencil-footing Nominal accounts in General Ledger:
- Aren’t balanced at the end of the month – totalled in



Summaries after sample
•
Preparing of a Trial balance
of a trading business
Drawn at the end of the month after completing the General
pencil.
- If the account only has one entry, leave it as it is.
- If more than one amt appears on one side – add up the
amts and write the total in pencil on the side on which the
entries are.
Ledger.
• Contains 2 sections - balance sheet accounts and Nominal
accounts.
• Copy General Ledger account headings into the Trial balance.
• Enter closing balance in the debit or credit column for
Balance sheet accounts.
• Enter pencil foot amount in the debit or credit column for
nominal accounts.
• Add up debit and credit columns, if equal, to fulfil the double
entry principle.



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