TWIKATANE COMBINED SCHOOL
BUSINESS STUDIES DEPARTMENT
LESSON PLAN FORM
TEACHER: CHIKOPO
R.
GRADE:
.
806232
DATE: ………………………………
SUBJECT: BUSINESS STUDIES
NUMBER OF PUPILS: ……………..
TOPIC: ADJUSTMENTS IN THE FINAL ACCOUNTS
GENDER: GIRLS:
SUB TOPIC: Adjustments to final accounts
DURATION: ……………………….
TS NO:
BOYS:
.
OUTCOME(S): At the end of lesson pupils should prepare the final accounts with adjustments without
difficulties.
RATIONALE: In this lesson, learners will be able to prepare the final accounts with adjustments.
Through demonstration and participatory method by learners, it is expected that the learners will acquire
the knowledge of preparing the final accounts with adjustments. In this lesson, using the demonstration
approach I intend to prepare the final accounts with adjustments. This lesson is the 1st lesson of 4
lessons for the topic of Adjustments to final accounts.
Reference: Senior Secondary Principles of Accounts 10 – 12 by Lovemore Chibuye (2017)
PART
INTRO
TIME
5
min
40
min
D
E
V
E
L
LESSON CONTENT
Recap of the previous terms work. Preview of the lesson
The following trial balance was extracted from the books of R. Gambo at the close of business on 28
February 2007
Dr
Cr
K’000
K’000
Purchases and Sales
92,800
157,165
Cash at bank
4,100
Cash in hand
324
Capital
11,400
Drawings
17,100
Office furniture
2,900
Rent
3,400
Wages and Salaries
31,400
Discounts
820
160
Debtors and Creditors
12,316
5,245
Stock 1 March 2006
4,120
Provision for doubtful debts
405
Delivery Van
3,750
Van running costs
615
Bad debts written off
730
174,375
174,375
The following additional information as at 28 February 2007 is available:
a)
Stock 28 February 2007 K2,400,000
b)
Wages and Salaries accrued at 28 February 2007 K340,000
c)
Rent prepaid at 28 February 2007 K230,000
d)
Van running costs owing at 28 February 2007 K72,000
e)
Increase the provision for doubtful debts by K91,000
f)
Provide for depreciation as follows: Office furniture K380,000; Delivery Van K1,250,000
Required:
Draw up the trading, profit and loss account for the year ending 28 February 2007 together with a
balance sheet as at that date.
R. Gambo Trading, Profit and Loss account for the year ended 28 February 2007
Sales
157,165,000
Opening stock
4,120,000
Purchases
92,800,000
96,920,000
Less: Closing stock
(2,400,000)
Cost of goods sold
(94,520,000)
Gross profit
62,645,000
Add: Discount received
160,000
METHODOLOGY
QPN/VE
Illustration
LEARNER
ACTIVITY
Answering
questions
Observation
REF/AIDS
Business
Accounting by
F. Wood
Chalkboard
Total income
Less: Expenses
Rent
Less: Rent prepaid
O
62,805,000
Discount allowed
Increase in provision for bad debts
Van running costs
Add: Van costs owing
E
Fixed Assets
Office Furniture
Delivery Van
Cash at bank
Cash in hand
Prepaid expenses
Total Current Assets
Less: Current Liabilities
Creditors
Expenses Owing
T
Working Capital
Net Assets
Financed by:
Capital
Add: Net Profit
Less: Drawings
Net Worth
Observation
31,740,000
820,000
91,000
615,000
72,000
687,000
730,000
380,000
1,250,000
(38,868,000)
24,937,000
NBV
2,520,000
2,500,000
5,020,000
2,400,000
12,316,000
(496,000)
11,820,000
4,100,000
324,000
230,000
18,874,000
Chalkboard
5,245,000
412,000
(5,657,000)
13,217,000
18,237,000
11,400,000
24,937,000
35,337,000
(17,100,000)
18,237,000
1.
A
30
min
P
L
I
C
A
T
I
O
N
CONC
Demonstration
Chalkboard
3,170,000
R. Gambo Balance Sheet as at 28 February 2007
Cost
Accumulated Dep’n
2,900,000
380,000
3,750,000
1,250,000
6,650,000
1,630,000
Current Assets
Stock
Debtors
Less: Provision for bad debts
N
P
31,400,000
340,000
Bad debts written off
Depreciation: Office Furniture
Delivery Van
Total Expenses
Net Profit
M
Observation
3,400,000
(230,000)
Wages and Salaries
Add: Wages & Salaries accrued
P
Demonstration
5 min
J. Wakunuma, a sole trader, extracted the following trial balance from his books at the close of
business on 31 March 2010
Dr
Cr
K’000
K’000
Purchases and Sales
61,420
127,245
Stock 1 April 2009
7,920
Capital
25,200
Bank overdraft
2,490
Cash
140
Discounts
2,480
62
Returns inwards
3,480
Returns outwards
1,356
Carriage outwards
3,210
Rent and Insurance
8,870
Provision for bad debts
630
Fixtures and fittings
1,900
Van
5,600
Debtors and Creditors
12,418
11,400
Drawings
21,400
Wages and Salaries
39,200
General office expenses
319
168,383
168,383
The following additional information as at 31 March 2010 is available:
a)
Stock 31 march 2010 K6,805,000
b)
Wages and Salaries accrued at 31 March 2009 K3,500,000; Office expenses owing K16,000
c)
Rent prepaid 31 March 2009 K600,000
d)
Increase the provision for doubtful debts by K110,000 to K740,000
e)
Provide for depreciation as follows: Fixtures and fittings K190,000; Van K1,400,000
Required:
Prepare the trading profit and loss account for the year ending 31 March 2010 together with the
balance sheet as at date
Recap of the main points
Class
exercises
Answering
exercises
VE
Listening
Chalkboard
LESSON CRITIQUE: ............................................................................................................
HOD’S COMMENT: ................................................................................................................
TWIKATANE COMBINED SCHOOL
BUSINESS STUDIES DEPARTMENT
LESSON PLAN FORM
TEACHER: CHIKOPO
R.
GRADE:
.
806232
DATE: ………………………………
SUBJECT: BUSINESS STUDIES
NUMBER OF PUPILS: ……………..
TOPIC: ADJUSTMENTS IN THE FINAL ACCOUNTS
GENDER: GIRLS:
SUB TOPIC: Adjustments to final accounts
DURATION: ……………………….
TS NO:
BOYS:
.
OUTCOME(S): At the end of lesson pupils should prepare the final accounts with adjustments without
difficulties.
RATIONALE: In this lesson, learners will be able to prepare the final accounts with adjustments.
Through demonstration and participatory method by learners, it is expected that the learners will acquire
the knowledge of preparing the final accounts with adjustments. In this lesson, using the demonstration
approach I intend to prepare the final accounts with adjustments. This lesson is the 2nd lesson of 4
lessons for the topic of Adjustments to final accounts.
Reference: Senior Secondary Principles of Accounts 10 – 12 by Lovemore Chibuye (2017)
PART
INTRO
TIME
5
min
20
min
D
E
V
E
L
LESSON CONTENT
Recap of the previous terms work. Preview of the lesson
The following trial balance was extracted from the ledger of Mrs. Mapalo, a Sole trader.
Dr
Cr
K’000
K’000
Sales
138,078
Purchases
82,350
Carriage
5,144
Drawings
7,800
Rent, Rates and Insurance
6,622
Postage and Stationery
3,001
Advertising
1,330
Salaries and Wages
26,420
Bad debts
877
Provision for doubtful debts
130
Debtors
12,120
Creditors
6,471
Cash in hand
177
Cash at bank
1,002
Stock 1 June 2008
11,927
Equipment
At cost
58,000
Accumulated depreciation
19,000
Capital
53,091
216,770
216,770
The following additional information as at 31 May 2009
a)
Rent is accrued by K210,000
b)
Rates have been prepaid by K880,000
c)
K2,211,000 of carriage represents carriage inwards on purchases
d)
Equipment is to be depreciated at 15% p.a. using straight line method
e)
The provision for doubtful debts to be increased by K40,000
f)
Stock at the close of the business has been valued at K13,551,000
Required:
Prepare a trading, profit and loss account for the year ended 31 May 2009 and a balance sheet as at
that date.
Mrs. Mapalo Trading, Profit and Loss account for the year ended 31 May 2009
Sales
138,078,000
Opening stock
11,927,000
Purchases
82,350,000
Add: Carriage inwards
2,211,000
84,561,000
96,488,000
Less: Closing Stock
(13,551,000)
Cost of goods sold
82,937,000
Gross Profit
55,141,000
Less: Expenses
Carriage outwards
2,933,000
Rent, Rates and Insurance
6,622,000
METHODOLOGY
QPN/VE
LEARNER
ACTIVITY
Answering
questions
Illustration
Observation
Demonstration
Observation
REF/AIDS
Business
Accounting by
F. Wood
Chalkboard
Chalkboard
O
Add: Rent accrued
Less: Rates prepaid
P
Postage and Stationery
Advertising
Salaries and Wages
Bad debts
Increase in provision for bad debts
Depreciation: Equipment
Total Expenses
Net profit
E
N
T
P
10
min
P
L
I
C
A
T
I
O
N
CONC
5,952,000
3,001,000
1,330,000
26,420,000
877,000
40,000
8,700,000
Mrs. Mapalo’s Balance Sheet as at 31 May 2009
Fixed Assets
Cost
Accumulated Dep’n
Equipment
58,000,000
27,700,000
Current Assets
Stock
13,551,000
Debtors
12,120,000
Less: Provision for doubtful debts
(170,000)
11,950,000
Cash at bank
1,002,000
Cash in hand
177,000
Prepaid expenses
880,000
Total Current Assets
27,560,000
Less: Current Assets
Creditors
6,471,000
Accrued expenses
210,000
(6,681,000)
Working Capital
Net Assets
Financed by:
Capital
53,091,000
Add: Net Profit
5,888,000
58,979,000
Less: Drawing
7,800,000
M
A
210,000
(880,000)
5 min
49,253,000
5,888,000
NBV
30,300,000
Demonstration
Observation
Chalkboard
Class
exercises
Answering
exercises
Chalkboard
VE
Listening
20,879,000
51,179,000
51,179,000
The following trial balance was extracted from the books of Mr. Chico, a business man based in
Ndola.
Dr
Cr
K’000
K’000
Sales
430,000
Purchases
293,500
Carriage inwards
2,100
Drawings
31,000
Rent
5,200
Business Rates
2,600
Insurance
550
Postage
250
Stationery
986
Advertising
250
Wages
10,500
Bad debts
400
Provision for doubtful debts
400
Debtors
5,120
Creditors
3,600
Cash in hand
120
Cash at bank
3,257
Stock
6,520
Equipment at cost
150,000
Accumulated depreciation – equipment
35,000
Capital
43,353
512,353
512,353
Following a discussion with Mr. chico, the following points have come to light:
a) Accruals are necessary for rent K150,000), business rates (K200,000), and stationery (K16,000)
b) Insurance has been prepaid by K150,000, advertising by K50,000
c) Stock at the year end is K7,000,000
d) Depreciation is to be charged on equipment at a rate of 10% on cost
e) The doubtful debt provision is to be increased to 10% of the year end balance
f) Purchases invoices to the value of K12,000,000 were found in the desk drawer the day before
meeting with Mr. Chico. Half of them have been paid by cheque (but no record made in the cash
book) and the rest are outstanding.
Required:
Prepare a trading and profit and loss account for the year ending on the date of extraction of the trial
balance together with a balance sheet as at that date
Recap of the main points
LESSON CRITIQUE: .............................................................................................................
HOD’S COMMENT: ...............................................................................................................
TWIKATANE COMBINED SCHOOL
BUSINESS STUDIES DEPARTMENT
LESSON PLAN FORM
TEACHER: CHIKOPO
R.
GRADE:
.
806232
DATE: ………………………………
SUBJECT: BUSINESS STUDIES
NUMBER OF PUPILS: ……………..
TOPIC: ADJUSTMENTS IN THE FINAL ACCOUNTS
GENDER: GIRLS:
SUB TOPIC: Adjustments to final accounts
DURATION: ……………………….
TS NO:
BOYS:
.
OUTCOME(S): At the end of lesson pupils should prepare the final accounts with adjustments without
difficulties.
RATIONALE: In this lesson, learners will be able to prepare the final accounts with adjustments.
Through demonstration and participatory method by learners, it is expected that the learners will acquire
the knowledge of preparing the final accounts with adjustments. In this lesson, using the demonstration
approach I intend to prepare the final accounts with adjustments. This lesson is the 3rd lesson of 4
lessons for the topic of Adjustments to final accounts.
Reference: Senior Secondary Principles of Accounts 10 – 12 by Lovemore Chibuye (2017)
PART
INTRO
TIME
5
min
40
min
D
E
V
E
L
LESSON CONTENT
Recap of the previous work. Preview of the lesson
The trial balance for a Accounts Ltd a small business at 31 August 2008 is as
follows:
Dr
Cr
K’000
K’000
Stock 1 Sept 2007
8,200
Purchases and Sales
26,000
40,900
Rent
4,400
Business rates
1,600
Sundry expenses
340
Motor vehicle at cost
9,000
Debtors and Creditors
1,160
2,100
Bank
1,500
Provision for depreciation on motor vehicle
1,200
Capital
19,700
Drawings
11,700
63,900
63,900
The following additional information as at 31 August 2008 is available:
a) Stock valued at cost price K9,100,000
b) Accrued rent of K400,000
c) Prepaid business rates of K300,000
d) The motor vehicle is to be depreciated at 20% per annum
Required:
Prepare the trading, profit and loss account for the year ending 31 August 2008
together with a balance sheet as at that date.
Solution
Accounts Ltd’s Trading, Profit and Loss account for the year ended 31 May 2009
Sales
40,900,000
Opening stock
8,200,000
Purchases
26,000,000
34,200,000
Less: Closing Stock
(9,100,000)
Cost of goods sold
25,100,000
Gross Profit
15,800,000
METHODOLOGY
QPN/VE
Illustration
LEARNER
ACTIVITY
Answering
questions
Observation
REF/AIDS
Business
Accounting by
F. Wood
Chalkboard
O
P
Less: Expenses
Business Rates
Less: Rates prepaid
1,600,000
300,000
Rent
Add: Rent accrued
4,400,000
400,000
Sundry expenses
Depreciation: Motor van
Total Expenses
Net profit
E
N
A
P
P
I
30
min
C
A
T
I
O
N
CONC
Demonstration
Observation
Chalkboard
4,800,000
340,000
1,800,000
8,240,000
7,560,000
NBV
6,000,000
9,560,000
15,560,000
Chalkboard
15,560,000
T
L
Observation
1,300,000
Accounts Ltd’s Balance Sheet as at 31 May 2009
Fixed Assets
Cost
Accumulated Dep’n
Motor van
9,000,000
3,000,000
Current Assets
Stock
9,100,000
Debtors
1,160,000
Cash at bank
1,500,000
Prepaid expenses
300,000
Total Current Assets
12,060,000
Less: Current liabilities
Creditors
2,100,000
Accrued expenses
400,000
(2,500,000)
Working Capital
Net Assets
Financed by:
Capital
19,700,000
Add: Net Profit
7,560,000
27,260,000
Less: Drawing
11,700,000
M
Demonstration
5 min
Mr. Musonda has been trading for some years as a wine merchant. The following list of
balances has been extracted from his ledger as at 30 April 2007, the end of his most recent
financial years.
K’000
Capital
83,887
Sales
259,870
Trade creditors
19,840
Returns outwards
13,407
Provision for doubtful debts
512
Discounts allowed
2,306
Discount received
1,750
Purchases
135,680
Returns inwards
5,624
Carriage outwards
4,562
Drawings
18,440
Carriage inwards
11,830
Rent, rates and insurance
25,973
Postage, stationery and telephone
2,410
Heating and lighting
1,101
Advertising
5,980
Salaries and wages
38,521
Bad debts
2,008
Cash in hand
534
Cash at bank
4,440
Stock as at 1 May 2006
15,654
Trade debtors
24,500
Fixtures and fittings – at cost
120,740
Provision for dep’n on fixtures and fittings – as at 30 April 2007 63,020
Depreciation
12,074
The following additional information as at 30 April 2007 is available.
a) Stock at the close of business was valued at K17,750,000
b) Insurance have been prepaid by K1,120,000
c) Heating and lighting is accrued by K1,360,000
d) Rates have been prepaid by K5,435,000
e) The provision for doubtful debts is to be adjusted so that it is 3% of trade
debtors
Recap of the main points
Class
exercises
Answering
exercises
VE
Listening
Chalkboard
LESSON CRITIQUE: ..............................................................................................................
HOD’S COMMENT: ................................................................................................................
TWIKATANE COMBINED SCHOOL
BUSINESS STUDIES DEPARTMENT
LESSON PLAN FORM
TEACHER: CHIKOPO
R.
GRADE:
.
806232
DATE: ………………………………
SUBJECT: BUSINESS STUDIES
NUMBER OF PUPILS: ……………..
TOPIC: ADJUSTMENTS IN THE FINAL ACCOUNTS
GENDER: GIRLS:
SUB TOPIC: Adjustments to final accounts
DURATION: ……………………….
TS NO:
BOYS:
.
OUTCOME(S): At the end of lesson pupils should prepare the final accounts with adjustments without
difficulties.
RATIONALE: In this lesson, learners will be able to prepare the final accounts with adjustments.
Through demonstration and participatory method by learners, it is expected that the learners will acquire
the knowledge of preparing the final accounts with adjustments. In this lesson, using the demonstration
approach I intend to prepare the final accounts with adjustments. This lesson is the 4th lesson of 4
lessons for the topic of Adjustments to final accounts.
Reference: Senior Secondary Principles of Accounts 10 – 12 by Lovemore Chibuye (2017)
PART
INTRO
TIME
5
min
20
min
D
E
V
E
L
LESSON CONTENT
Recap of the previous work. Preview of the lesson
From the following trial balance of John Banda, Store owner, prepare a trading,
profit and loss account for the year ending 31 December 2007, and a balance
sheet as at that date, taking into consideration the adjustments shown below:
Dr
Cr
K’000
K’000
Sales
400,000
Purchases
350,000
Sales returns
5,000
Purchases returns
6,200
Stock 1 Jan 2007
100,000
Provision for doubtful debts
800
Wages and Salaries
30,000
Rates
6,000
Telephone
1,000
Shop fittings at cost
40,000
Van at cost
30,000
Debtors and Creditors
9,800
7,000
Bad debts
200
Capital
179,000
Bank
3,000
Drawings
18,000
593,000
593,000
The following additional information as at 31 December 2007 is available.
a) Stock at 31 December 2007 K120,000,000
b) Accrued wages K5,000,000
c) Rates prepaid K500,000
d) Provision for doubtful debts to be increased to 10% of debtors
e) Telephone account outstanding K220,000
f) Depreciate Shop fittings at 10% per annum, and Van at 20% per annum
on cost
John Banda’s Trading, Profit and Loss account for the year ended 31 December 2007
Sales
400,000,000
METHODOLOGY
QPN/VE
Illustration
LEARNER
ACTIVITY
Answering
questions
Observation
REF/AIDS
Business
Accounting by
F. Wood
Chalkboard
Chalkboard
Less: Returns inwards
Turnover
Opening stock
Purchases
Less: Purchases returns
O
P
M
E
5,000,000
395,000,000
350,000,000
6,200,000
Less: Closing Stock
Cost of goods sold
Gross Profit
Less: Expenses
Increase in Provision
Wages and Salaries
Add: Wage accrued
30,000,000
5,000,000
Rates
Less: Rates prepaid
6,000,000
500,000
Telephone
Add: Telephone outstanding
1,000,000
220,000
Chalkboard
Class
exercises
Answering
exercises
Chalkboard
35,000,000
5,500,000
1,220,000
200,000
6,000,000
4,000,000
52,100,000
19,100,000
John Banda’s Balance Sheet as at 31 December 2007
Cost
Accumulated Dep’n
40,000,000
4,000,000
30,000,000
6,000,000
70,000,000
10,000,000
Bank
Prepaid expenses
Total Current Assets
Less: Current Assets
Creditors
Accrued expenses
Less: Drawing
Observation
343,800,000
443,800,000
(120,000,000)
180,000
Current Assets
Stock
Debtors
Less: Provision for doubtful debts
Working Capital
Net Assets
Financed by:
Capital
Add: Net Profit
Demonstration
100,000,000
N
T
Observation
323,800,000
71,200,000
Bad debts
Depreciation: Van
Shop Fittings
Total Expenses
Net profit
Fixed Assets
Shop Fittimgs
Van
Demonstration
9,800,000
(980,000)
NBV
36,000,000
24,000,000
60,000,000
120,000,000
8,820,000
3,000,000
500,000
132,320,000
7,000,000
5,220,000
(12,220,000)
120,100,000
180,100,000
179,000,000
19,100,000
198,100,000
18,000,000
180,100,000
A
P
P
L
I
C
A
T
I
O
N
10
min
Fanny Mulombe, a sole trader had the following Trial Balance extracted from
business accounts on 31 October, 2006 the end of the financial year.
K
K
Bad debts written off
400,000
Cash in hand
250,000
Cash at bank
6,250,000
Purchases/Sales
23,500,000
80,000,000
Rent and rates
1,250,000
Motor vehicles
12,500,000
Light and heat
600,000
Carriage outwards
350,000
Opening stock (1 Nov. 2005)
18,750,000
Commission received
1,350,000
Capital
75,740,000
Drawings
8,500,000
Returns
1,650,000
2,000,000
Office salaries
25,000,000
Debtors/Creditors
23,600,000
5,650,000
Provision for bad debts
1,860,000
Furniture and fittings
8,000,000
Land and buildings
46,000,000
Bank loan
10,000,000
A senior accounting officer requests you to prepare the Trading and Profit and
Loss Account to show how the business fared that year and the Balance Sheet
to reflect its financial position as at 31 October, 2006.
Take the following into consideration:
 The closing stock was valued at K19,500,000
 K800,000 was owing on office salaries
 K150,000 rates had been paid in advance
 The motor vehicles were to be depreciated by 10%
 Provision for bad debts to be increased to 10% of the debtors
 K800,000 interest on loan was not yet paid
CONC
5 min
Recap of the main points
[35]
VE
Listening
LESSON CRITIQUE: ...................................................................................................................
HOD’S COMMENT: .....................................................................................................................