Lio Mentees Academy - Cormmerce

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ACCCOUNTING GRADE 12 (BUY BACK OF SHARES AT AN AVERAGE PRICE)

https://youtu.be/6nm0QBS-YAc

ACCCOUNTING GRADE 12 (BUY BACK OF SHARES AT AN AVERAGE PRICE) CALCULATING AND RECORDING SHARES BOUGHT BACK AT AN AVERAGE PRICE

INTERIM DIVIDENDS

https://youtu.be/bsZ3RqCCpY4

INTERIM DIVIDENDS RECORDING INTERIM DIVIDENDS TRANSACTIONS

BUSINESS SECTORS CLIP 2 (TERTIARY SECTOR)

https://youtu.be/N0gqRC6O5_Y

BUSINESS SECTORS CLIP 2 (TERTIARY SECTOR) BUSINESS STUDIES GRADE 11 BUSINESS SECTORS

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Class activity:
What are the differences between the following:

Sole proprietor
Partnership
Companies

NB. For grade 12s

Hi,it's Lionel from Lio mentees Academy.

Introduce, LET'S LEARN CORMMECE PROGRAM
this is where all COMMERCE learners learn alot of what they do at school

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Aims:
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BANK RECONCILIATION STATEMENT (THEORY)

https://youtu.be/8SdjV1J21VM

The bank reconciliation statement (theory) video is available on utub

BANK RECONCILIATION STATEMENT (THEORY) UNDERSTANDING BANK RECONCILIATION STATEMENT DRADE 11 AND 12

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How to teach the accounting equation
Plz subscribe, like and share
New video unloaded
How to teach the accounting equation
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https://youtu.be/Mg3XS9jAvIc

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Rent income received in advance

https://youtu.be/QxqYqWtfAm0

Rent income received in advance The rent income was increased by 500 and was paid for the 13th month in advance

Rent income received in advance

https://youtu.be/QxqYqWtfAm0

Rent income received in advance The rent income was increased by 500 and was paid for the 13th month in advance

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This is an example of a rent income, receives in advance example

This might be of good assistance to you

One of the students asked a question (in crey) and I answered (on blue)

Grade 10-12
Lets focus on this chapter a bit because I know that some of you are having difficulties

The accounting equation
Categorized into 3:
1.Assets- they add value to the business, they benefit the business, they are the main reasons for businesses to keep running
Eg. Bank, trading stock, vehicles, land and buildings, debtors, and more ( make use of ur prescribed textbook or internet for more)
2. Owners equity
Divided into 2,income and expenses
When we spend money to buy or rent goods is what we call an expense
Eg. Rent expense, purchases, stationery, and more
When we receive money from tenants or for sales is what we can an income
E.g. Ret income, sales, and more

3. Liabilities
When we buy goods on credit as a business from other companies we are regarded as the creditors, of which it falls under the liabilities
Plz make sure that u record only transactions where you are buying on credit, not on cash under liabilities

Take note of the following :
Assets = owners equity + liabilities
Assets (+ debit) (- credit)
Owners equity and liability (-debit) (+ credit)

Whenever you are busy with ur accounting equation, you need to make sure that ur owners equities added with the liabilities you get the asset

Steps to record the transaction in the accounting equation :
Firstly, you will be given the transactions
Secondly, read carefully and determine the accounts affected. NB. transactions may differ and find out that u are given a transaction that has 3 accounts and be required to determine them all and record them
Thirdly, this is when ur done determining the accounts affected, u start drawing ur t-accounts down on a draft and follow the signs given above( asset-increases on the debit side and decreases on the credit, owners equity - decreases on the depict side and increases on the credit side, and liability is the same as owners equity)

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Circular flow model

The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents. The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction

Thus, the five-sector model includes (1) households, (2) firms, (3) government, (4) the rest of the world, and (5) the financial sector. The financial sector includes banks and non-bank intermediaries that engage in borrowing (savings from households) and lending (investments in firms).

Main points involved in the model:
Goods and services flow through the economy in one direction while money flows in the opposite direction. The factors of production include land, labor, capital and entrepreneurship. The prices that correspond to these factors of production are rent, wages and profit.

Two types of circular flows:
There are two types of circular flow.
Real Flow- The term real flow means the flow of factor services from household to firms. Similarly, the flow of goods and services from firms to household.
Money Flow- The Money flow refers to the flow of factor payments from firm to household for factor services.

Difference between stock and flow variable :
A stock is measured at one specific time, and represents a quantity existing at that point in time (say, December 31, 2004), which may have accumulated in the past. A flow variable is measured over an interval of time. Therefore, a flow would be measured per unit of time (say a year).

Additional:
The circular flow model demonstrates how money moves through society. Money flows from producers to workers as wages and flows back to producers as payment for products. In short, an economy is an endless circular flow of money. That is the basic form of the model, but actual money flows are more complicated.

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