00:33

How to Calculate Accounting Profit

01:49

Kind of Assets

01:38

Additions to non current assets

02:40

Share capital and share premium

01:32

Cost of the inventory destroyed

02:25

Net book value after revised useful life

01:43

Profit or loss on disposal

02:51

Revised Balance on the cash book

02:56

Balance on Receivables Ledger Control Account

01:24

Retained Profit

01:06

Net Profit

01:18

Retained Earnings

01:57

Receivables in the statement of profit or loss

02:18

Net effect on profit

01:51

Remaining balance on suspense account

02:42

Closing Inventory using Perpetual FIFO

01:53

Depreciation Expense

01:43

Receivable Expense

01:33

Carrying amount of non-current asset

02:27

Closing balance of receivable after adjusting errors

01:12

Balance of Receivable in Statement of Financial Position

01:48

Inventory destroyed

01:41

Sales Revenue

01:48

Trade Receivable

02:00

Difference for payable ledger account

01:52

Balance per cash book before adjustments

01:25

receivables charge to statement of profit or loss

01:37

Prepaid insurance

01:40

Sales for the year

00:53

Accounting entries

01:58

Value of the inventory lost

01:31

Closing Capital

01:59

PURCHASES

01:58

Sale for 31 January 20X5

01:33

sales figure for sole trader

02:06

Inventory destroyed

01:37

Sales figure for the year

02:01

Receivables and Prepayments

02:16

Profit for the year

02:21

inventory loss

01:03

Journal entries for Correcting Suspense Account

02:44

Original balance on the suspense account

01:21

Adjusted total assets & Profit

01:59

Credit balance for Bank Loan

02:07

Balance on capital account

01:09

Net profit after adjusting error

01:15

Correct balance per the cash book

01:57

Cash Balance on Bank statement

01:15

Bank balance in the statement of financial position

01:05

Cash Balance at the bank

01:02

Correct bank balance in cash book

01:25

Correct bank balance​ in the statement of financial position

01:43

Trade payables for Statement of financial position

01:38

Cash book balance

01:12

Overdraft per cash book

03:10

Suspense after correction of errors

02:52

Sales revenue

01:31

Actual Sales Revenue

01:02

Payables on statement of financial position

02:46

Balance on the payables ledger control account