Summary Accounting Notes - Grade 12 IEB

,Module 1 -



Companies and Ledger Accounts


General Ledger Transaction


Balance sheek
-
& - t

Br Retained Income Cr Br shareholders for Dividends Cr

Bank GJ Dividends on
Appropriation
↳ cast Of ACC 5
covers JSESN
Ordinary shares
S
.




Appropriation On OE
3
this side if 10 . 4

Man a
bigger
Asser + Liability
A
T



I
Dr SARS-Income Tax cr


Bank
E
Income Tax

provis Ional tax 2
↳ lability
pay during year bused on NP before tax !
↳
-
11 no
provisional tax payments here


>
-
side nore
-




11 -


t

buy back
Br
Ordinary share capital Cr

of shares ! Bank Balance
S
bought shares ↳
Bank

at our
average someone bought our shares
share price
not JSE !



Nominal Accounts
~
t -
t
Dividends shares Cr
Dr on
Ordinary Br Income Tax Cr

Bank Appropriation SARS-Income tax Appropriation ACC
↳ Interim paid Account
2




I
Y
shareholders For 4
Dividence

3 during year - paid
~


final dividence
declared (not paid ! ) Final Accounts
↳ at AGM !
Dr
Appropriation Account
cr




E profit
Y income TGX Profir & Loss Net before tax
* Div shr .
. On
Ordinary
Retaind income
6 5

,