Annual Financials for Grade 10 Accounting
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A game which reinforces the concepts of the income statement and balance sheet
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Topics of this game:
- The capital account is show in which note?
- What does the "Trade and other receivables" note show?
- Where is your left over packing material shown at the end of the year?
- What amount is shown under Trading Stock in your Inventories note?
- Where is drawings shown in the financial statements?
- What is a liability?
- Where does your cash float go?
- Which section of your balance sheet does "fixed deposit" reflect in?
- Which GL account do we close off debtors allowances to?
- What amount is shown as Retained income in the Owner's equity note?
- Gross profit is ...
- What is in the accounts receivable note?
- Cash float is shown in which note?
- The carrying value of an asset is...
- The interest which the bank charges on a loan is shown as...
- Rent income which was paid to us in advance must be debit in income statement and...
- Fee income goes into ..
- Stationery is a ___ account
- 10% Depreciation worked out by the diminishing balance method is ....
- Movement in the fixed assets note is made up of.....
- The income statement shows...
- Depreciation is a ...
- Discount received is ...
- Cash and cash equivalents are made up of....
- Prepaid expenses are ....
- If you are writing off a bad debt, the journal is
- When you receive money from a debtor who was already written off....
- Trade and other payables are...
- Creditors control, accrued expenses, income received in advance are all examples of...
- The balance sheet balances when...
- Cost of equipment R10 000, accumulated depreciation R2 000. What is the carrying value?
- Interest on fixed deposit is capitalised when it is ...
- Debtors allowances are made up of ...
- Expenses increase on the
- Incomes increase on the
- Assets increase on the
- Liabilities increase on the ..
- Adjustments are done in...
- A loss for the year would have this effect
- Choose the correct order: COS stands for Cost of Sales.
- How must you approach accounting?
- Which figure from the fixed assets note gets taken across to the balance sheet?
