Let talk accounting

Q2 which one of the following represent short term liability?
A) Debtors control
B) Capital
C) Current portion of loan
D) mortgage loan

Let start this by opening our mind with basic accounting.
Which one of the following is an equity
A) account payable
B) Trading stock
C) Water and electricity
D) long term loan

Good afternoon and happy new
(2026)

Sales 3000 and gross profit 500
Use this information to calculate the cost of sales
A 3500
B 6
C 4000
D 2500

To calculate the cost of sale using periodic inventory system at the end of the year, you have to take opening balance of stock +purchases + carriages- return - closing balance.
State whether the statement is true or false.
A. True
B. False

Calculate other operating income.
Information: Operating profit:57000, operating expenses :30 000, sales: 250 000.
A) 280 000
B) 37 000
C) 307 000
D) 87 000

Sale - cost of sales =?
a) gross sales
b) net profit
C) Gross profit
D) operating profit

Where is income received in advance recorded in the balance sheet. Choose the correct answer.
A. Inventory
B. Cash and cash equivalent
C. Trade and other receivable
D Trade and other payable

Try to answer this question:
The credit balance of R1000 of creditors ledger must be transfered to debtors ledger.
How this transaction will be recorded
In the balance sheet, choose the correct answer.
A) TR +1000 and TP - 1000
B) TR -1000 and TP - 1000
C) TR - 1000 and TP + 1000
D) TR +1000 and TP + 1000
( NOTE: TR - TRADE RECEIVABLE AND TP - TRADE PAYABLE)

Which one is referred as cash books in the following?
A) CJ
B) CRJ
C) DJ
D) GJ
E) CRJ
i) A , C ,and E
ii) B and C only
iii) A, B and D
iv) all of above

Matric results 2024

Greetings to everyone and happy new year.

Our online classes are now open for 2025

"Unlock Your Child's Full Potential!
Get personalized online tutoring from experienced educators. Improve grades, build confidence, and develop a love for learning. Flexible scheduling, interactive lessons, and affordable rates.

Sign up now and watch your child thrive!
Subjects offered: EMS, ECONOMICS AND ACCOUNTING

Contact us: 071 035 5194 or send email to [email protected]

Let's get started!"
Click to the link to apply:

Student application form – Build The Future Academy Student application form Name *FirstLastDate of birth *Gender *Email *EmailConfirm EmailContact informationPhone number *Contact informationAddress *Province *Grade For high school students only.Subjects:For high school students only.Modules:For tertiary students only. Note that you can request any....