GRADE 10 BUSINESS STUDIES
GRADE 10 BUSINESS STUDIES
UNIT 2 KEEPING ACCOUNTS IN A SMALL BUSINESS
Name: Address:
District/:
Province
COURSE BOOK 2
__________________________________ __________________________________ __________________________________ __________________________________
FLEXIBLE, OPEN AND DISTANCE EDUCATION PRIVATE MAIL BAG, WAIGANI, NCD PAPUA NEW GUINEA
GR10 BS U2
3
WRITERS & EDITORS
Writer: Doris Payok
Editor: Silas Umaropi
Sub-editors: Alison Chalapan Gilbert Ikupu Tiden Irima Lucy Joseph Max Paro Diana Waikali Ursual Yallon
GR10 BS U2
1
WRITERS & EDITORS
GRADE 10
BUSINESS STUDIES
UNIT 2
KEEPING ACCOUNTS IN A SMALL BUSINESS
In this unit you will learn;
TOPIC 1: BOOKKEEPING IN A SMALL BUSINESS TOPIC 2: TAKING STOCK TOPIC 3: CALCULATING PROFIT ? CASH AND CREDIT
TRANSACTIONS TOPIC 4: THE USE OF A CHEQUE ACCOUNT
GR10 BS U2
2
ACKNOWLEDGEMENTS & ISBN
Acknowledgements
We acknowledge the contributions of all Primary Teachers who in one way or another helped to develop this course.
Our profound gratitude goes to the former Principal, Mr Demas Tongogo for leading FODE team towards this great achievement. Special thanks to the staff of MAL and Business Studies Department of FODE who played an active role in coordinating writing workshops, outsourcing lesson writing and editing processes.
We also acknowledge the professional guidance provided by Curriculum and Development Assessment Division throughout the processes of writing and, the services given by member of the Primary Section and Academic Committees.
The Course Book was developed with the support and funding of the GO- PNG FODE World Bank Project.
DIANA TEIT AKIS
PRINCIPAL
Written by: Doris Payok Published in 2017 by the Flexible, Open and Distance Education
? Copyright 2017, Department of Education, Papua New Guinea
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without prior permission of the publisher. Printed by the Flexible, Open and Distance Education
ISBN: 978-9980-89356-7 National Library Services of Papua New Guinea
GR 10 BS U2
3
CONTENTS
TABLE OF CONTENTS
Title Page..................................................................................... 1
Acknowledgment........................................................................... 2
Table of content ........................................................................... 3
Secretary's message .................................................................... 5
Unit Introduction............................................................................ 6
Study Guide .................................................................................. 7
Topic 1:
Bookkeeping in a Small Business...................................... 9
Topic Introduction........................................................................... 10
Lesson 1: Introduction to keeping Accounts in Small Business.............. 11
Lesson 2: Documents In Cash Transactions.................................... 19
Lesson 3: Recording Cash Transactions ........................................ 29
Lesson 4: Using Business Incomes ............................................... 39
Lesson 5: Documents in Credit Transactions.................................... 47
Lesson 6: Recording Credit Transactions ........................................ 55
Answers to Practice Exercises1- 6................................................... 63
Topic 2:
Taking stock........................................................... 71
Topic Introduction.......................................................................... 72
Lesson 7: Stock Taking and Stock Take Record.............................. 73
Lesson 8: Stock Keeping Methods................................................ 79
Lesson 9: Stock taking and Stock Values........................................ 87
Answers to Practice Exercises 7-9
93
Topic 3:
Calculating Profit-Cash and Credit Transaction ......... 97
Topic Introduction........................................................................... 98
Lesson 10: Profit and Source Records........................................... 93
Lesson 11: Calculating Profit in Cash and Credit Transaction............... 99
Lesson 12: Profit and Loss Statement ............................................ 105
Lesson 13: The Balance Sheet ..................................................... 123
Lesson 14: The Profit and Loss Statement .................................... 129
Answers to Practice Exercises 10-14 .......................................... 137
Topic 4:
The Use of Cheque Account ....................................... 145
Topic Introduction............................................................................ 146
Lesson 15: The Cheque Account................................................... 147
Lesson 16: Cash Book and Cheque Account.................................... 157
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