Account First Term Scheme of Work and Lesson Note for Senior Secondary School One( SSS 1)

Lessonplan

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First term scheme of work SSS1 Account

Week 1. Introduction to book- keeping and Account.

2. Accounting concepts and conversations

3. Principles of double entries

4. Source Document

5. Subsidiary books

6. Sales day book & return inward journal

7. Purchases day book & return outward journal

8. Ledger Account

9. One column cash book

10. Double column cash book

11. Revision

12. Examination

LESSON NOTE FOR THE FIRST WEEK

ENDING 15^TH OF SEPTEMBER 2020

SUBJECT – ACCOUNTING

CLASS– SS1

DURATION- 40 MIP

NO OF PERIOD- 4

TOPIC- REVISION

PREVIOUS KNOWLEDGE: The student had been taught and given the definition of book-keeping in business study in their junior class.

State the meaning of book-keeping and Accounting

Give at least five(5) importance of book-keeping and accounting

State the limitation of book-keeping

List and explain the importance of book-keeping and Accounting

State the History of book-keeping

State the users and career opportunities of book-keeping and Accounting

INSTRUCTIONAL MATERIAL: White board and maker.

REFERENCE MATERIAL: Essential financial Accounting for senior secondary school by O.A. Longe and R.A. Kazeem, Simplified and Amplified Account for SS1-3 by Femi Longe.

CONTENT:

DEFINITION: Book-keeping may be defined as the recording of business transactions in a systematic manner on daily basis in an appropriate book of account for management decision making.

Accounting on the other hand id the interpreting and communicating financial information to the end users for appropriate decision making.

IMPORTANCE OF BOOK-KEEPING AND ACCOUNTING

It is used for decision making.
It helps to determine the profitability of a business concern/organization.
It helps to provide permanent record for all business transactions.
They are used for tax assessment.
It helps to prevent fraud.
It reveals the income and expenditure of an organization at a given point in time.
It also shows the asset and liabilities of an organization at a glance.
It reveals how effectively and efficiently an organization is being managed/ runned.

LIMITATION OF ACCOUNT INFORMATION

It is historical in nature.
There is no information as to usefulness, size or quality because accounting. information is expressed in monetary terms.
It is rigid in nature because it is written in line with some un realistic concepts and conventions
It can be influenced by personal/ individual judgment

Presentation:

Step 1. Review of some related topic to book-keeping in business study.

Step 2. Introduction of the new topic

Step 3. Explanation of the topic

Define book-keeping and Accounting

Differentiate between book-keeping and Accounting

Assignment:

Enumerate the uses and benefits of book-keeping and accounting to an organization

Previous 3 and 4

HISTORY OF BOOK-KEEPING AND ACCOUNT

There is no accurate record as to when accounting started, but briefly from 1494 to the present day, Account history can be traced back to a book called summa de arithmetical, geometric, proportioni et proportionality, written by the Italian mathematician and mark, Luca pacioli in A.D 1949.

In Nigerian, record keeping has its antecedent in the ancient kingdoms and empire and prominent then was the periodic contribution which was recorded on the wall. But the granting of royal charter to royal Niger Company was the turning point in record keeping.

The governing accounting principles in Nigeria was almost the same as the ones in Britain.

In 1965, the institute of chartered Accountants of Nigeria was established in Britain and USA. The institute was charged with the responsibilities of regulating accounting produces and practice in Nigeria.

In 1982, Nigerian Accounting standard board was burn to set standards to guide accounting operations members include general accounting operations. Members include general bank of Nigeria, finance ministry, Nigeria Accounting Teacher Association, clamber it commerce etc.

IN 1993, the act established another accounting professional body known as the association of natural accountant of Nigeria (ANAN).

Now in Nigeria there are two recognize accounting professional bodies namely Institute of chartered Accountants of Nigeria (ICAN) and Association of National Accounts of Nigeria (ANNAN)

PROFESSIONAL BODIES

Institute of charted Accountants of Scotland

I.C.A of England and Wales

I.C.A of Ireland

I.C.A of USA.

Association of charted Accountant

Institute of cost and management Accounts

Charted Institute of public finance & Accountancy

I.C.A.N.

A.N.A.N.

ACCOUNTING CAREER OPPORTUNITY

Accountant

Accounting Assistants

Accounting clerk

Accounting manager

Budget Analyst

Auditor

Payroll clerk

Chief Financial Officer

Book-keeping etc.

USERS OF ACCOUNTING INFORMATION

Managers

Employers

Competitor

Public

Government

Creditors

Analysts

Owners

Tax authority

Bank etc.

Presentation:

Step i. Reviews of definition and important of book-keeping and Accounting and it’s important.

Step ii. Introduction of the new topics

Step iii. Explanation of the topic

Step iv. General class discussion

Evaluation

List five users of Accounting information and the reason why the information is important to them.

List at least seven professional bodies in Accounting world wide

Assignment

Trace the history of book-keeping and Accounting in the world and in Nigeria

Conclusion:

The teacher summarizes the lesson and gores the students notes on the topics.

LESSON NOTE FOR THE SECOND WEEK ENDING 22^ND SEPTEMBER 2020.

CLASS – SS1

DURATION– 40 MIP

NOS OF PERIOD- 4

TOPIC- ACCOUNTING CONCEPTS AND CONVECTION

PREVIOUS KNOWLEDGE– The students have been introduce to Book-keeping and Accounting in the previous lesson.

BEHAVIOURAL OBJECTIVES:- The students are expected to:

Explain the meaning of Accounting concepts of conventions

State and explain at least five (5) accounting concept and conventions.

Understand the reasons for the concepts and conventions

INSTRUCTIONAL MATERIALS:- marker and white board

REFERENCE MATERIALS:- Simplified and Amplified Book-keeping and Accounting for Ss1-3 by Femi Longe; Essential financial Accounting for SS1-3 R.A. Kazeem and A.O Longe

CONTENT:-

Accounting concepts are basic principles rules and regulation that must be taken into consideration when preparing the financial statement. They are itemized and explain below:

Going concern concept: This concept assume that the business will continue to operate for an indefinite period.

Entity concept: This concept states that business organization should be treated as a separate and distinct entity from the owners

Realization concept: This concept states that revenue is recognized as soon as goods are passed to the consumer in exchanged for valuable consideration.

Matching concept: This concept state that all expenses are matched to against the revenue generated at that period to determine the net income.

Periodicity concept: This concept states every business organization should prepare their financial statement at a yearly interval so that performance could be measured over this period.

Historical cost concept: This concept implies that the value of an asset should be recorded at its cost of acquisition and not the value of

Money Measurement: This concept states that information in the financial statements should reflect only those facts which are capable of being expressed in monetary terms.

Accrual concept: This concept states that revenue and expenses are recognized and included in the profit and loss account as they are accrued not as they are paid or received.

Dual aspect concept: this states that every record must be recorded twice one on the debit side and another on the credit side of a separate account respectively except that of a contra entry

Accounting convention s are general accepted approaches to the application of the earlier concepts. They are agreed methods of dealing with concepts. The conventions are

Materiality convention- This principle states that only items of material value are recorded.

Consistency convention- This state that an accounting method be changed in preceding accounting periods

Prudence/conservation convention: This principles state that the accountant should not anticipate income and will understate rather than overstate the profit. Moreover, when valuing assets e.g stock, the lower value should be chosen.

Presentation:

Step 1. The teacher revises the previous topic

Step 2. He introduces the new topic

Step 3. Give explanation on the salient points on the topic matter.

Step 4. General class discussion

Evaluation:

What is accounting concepts and conventions?

State at least four concepts and three accounting convention with detail explanation

Assignment:

Trace the history and development of accounting concepts and conventions

Conclusion:

The teacher summarizes the lesson and gives students note on the topic taught.

LESSON NOTE FOR THE THIRD WEEK ENDING 29-09-2020

SUBJECT- ACCOUNTING

CLASS- SS1

DURATION- 40MIP

NOS OF PERIOD- 4

TOPIC– Principles of double Entries

OBJECTIVES- The students should be able to:

State the principles of double entries

Demonstrate the double entry system of accounting

Solve problems in Accounting Equation

PREVIOUS KNOWLEDGE: The should have be taught the dual concept of accounting

INSTRUCTIONAL MATERIALS: white board and marker.

REFERENCE MATERIALS: simplified and Amplified Book-keeping and Accounting by Femi Longe and Essential Financial Accounting for senior secondary school by R.A. Kazeem and Longe

LESSON NOTE FOR THE THIRD WEEK

Double entry book-keeping sis the system of keeping accounting records in line with dual concepts of accounting whereby the account receiving value will be credited.

THE PRINCIPLE OF DOUBLE ENTRY

This principles state that “for every debit entry, there must be a corresponding credit and entry and for every and credit entry there must be a corresponding debit entry”

FEATURES OF DOUBLE ENTRY

It has two expect i.e one should be a giver and other the receiver

It applies the debit and credit principles

STEPS TO APPLYING THE DOUBLE ENTRY PRINCIPLES

Identify the two account involved in the transaction

Identifying the “Givers” and the “Receiver”

Applying the principle

Example;

Ajayi started business with N10,000 cash

Step:

Two accounts involved

Capital (ii) Cash

2a. Capital (Givers)

2b. Cash (Receiver)

Ledger

Dr Cash account

N Capital 10,000

Dr Cash account

N	N Cash 100,000

(2) Sold goods on credit to Ola N5,000

Sales Account (Giver)

Ola’s Account (Receiver )

Dr Ola’s Account

N Sales 5,000

Dr Sales Account

N	N Ola 5,000

ACCOUNTING EQUATION:

Accounting Equation is the fundamental frame work of the entire financial accounting process. The fundamental equation is given as:

Assets = Capital + Liabilities

Capital = Assets + Liabilities

Liabilities = Assets + Capital

Illustration:

Solve the equation by felling the gaps

Assets Liabilities Capital
(a) 300, 000 ? 190,000

(b) ? 140,000 20,000

Solution:

Liabilities = Assets + Capital

= 300,000 – 190,000

= 110,000

Assets = Liabilities + Capital

= 140,000 + 20,000

= 160,000

Capital = Assets =Liabilities

= 5,000,000 – 2,000,000

= 3,000,000

Presentation:

Step i. Revision of the previous topic

Step ii. Introduction of the new topic

Step iii. Explanation of silent points

Step iv. General class discussion

Evaluation:

State and explain the double Entry principle in accounting

State the fundamental Equation in accounting with given Examples.

Assignment:

Simplified and Amplified Book-keeping and Accounting page EX4 and page 29 EX8

Conclusion:

The teacher summarizes the lesson and give the student note on the topic.

LESSON NOTE FOR THE FOURTH WEEK ENDING 6^TH OCTOBER 2020

SUBJECT – ACCOUNT

CLASS – SS1

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – SOURCE DOCUMENTS

OBJECTIVES – THE STUDENTS ARE EXPECTED TO:

Explain the meaning of source documents

Identify the various source documents

State the uses of the source document

PREVIOUS KNOWLEDGE: The students are already familiar with receipt and school bills.

INSTRUCTIONAL MATERIAL:- Pictures, white board and marker

REFERENCE MATERIAL:- Essential financial accounting for SSS1-3 BY R.A. Kazeem and A.O. Longe , Simplified and Amplified financial Accounting by Femi Longe .

CONTENT:

Source documents are written evidence of business transactions that describe the essential facts of those transactions. The source documents include;

Invoice

Credit note

Debit note

Petty cash voucher

Statement of account

Receipt

Cheque tub

Invoice: The invoice sets out the full details of goods sent by the supplier to the buyer stating the quantity, price, discount given and terms of payment.

Credit note: This is a document sent to the buyer by the seller to correct an over charged account.

Debit note: This is a document sent to the buyer by the seller to correct an under charged account

Petty cash voucher: This is a documents that serve as an evidence to the money credited to the petty cash account.

Statement of account: This is a document sent by the seller to the buyer stating the total debit, credit and balance of his account with the seller.

Cheque: This is an unconditional order in writing addressed by the drawer to the banker to pay on demand a specified sum of money to the name person (payee) on the cheque.

Receipt: This is a document that serves as an evidence of payment for a particular transaction.

Presentation:

Step 1: Revision of the previous topic

Step 2: Introductionof the new topic

Step 3: Explanation of the new topic

Step 4: General class discussion

Evaluation

What is source document?

Mention at least five source documents.

Assignment

Simplified and Amplified Bookkeeping and Accounting page 20 Ex 1 & Ex 2.

LESSON NOTE FOR THE FIFTH WEEK ENDING 13^TH OCTOBER 2020

CLASS – SS1

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – SUBSIDIARY BOOKS

OBJECTIVES – The students should be able to:

Define subsidiary book

List the types and uses of subsidiary book.

State the meaning and uses of the sales day book/journal and the return inward journal.

PREVIOUS KNOWLEDGE: The students have been taught source documents in the previous lesson.

INSTRUCTIONAL MATERIAL:- White board and marker

REFERENCE MATERIAL: Simplified and Amplified book – keeping and Accounting by Femi Longe Essential financial Accounting for SS1 – 3 by R.A. Kazeem and A.O. Longe .

CONTENT:

These are books of original entry or prime entry in which events and transactions are initially recorded before being posted or transferred to the ledgers. It does not adopt the double entry system.

USES OF SUBSIDIARY BOOKS

Ascertainment of slaws and purchases

It provides opportunity for monthly totals.

It provides opportunity for control account preparation

Ascertainment of debtors and creditors

It provides aids to memory

CLASSIFICATION OF SUBSIDIARY BOOK

The subsidiary book can be broadly classified as follows.

Sales journal/day book

Purchases journal/day book

Return inward journal/day book

Return outward journal/day book

Cash journal

General journal/journal proper

SALES JOURNAL

The sales journal/sales day book is used for recording goods sold to customers on credit. It is used to record credit sales only.

Format

Date	Particulars	F	Details	Total
Feb. 4	Tony 20 Packs Of Biro @ N X Each Less 10% Discount CBI 25 Cartons Of Biscuits 5 Bags Of Sugar Less 5% Discount Transfer To Sales Ledger Acct.		X (xi X X Xx (xi	x x x xx

Dr sales Ledger Account Cr.

Journal xx

RETURN INWARD BOOK

This is used to record goods previously sold but later returned by the customer to the seller. Goods may be returned as a result of damages or inferior quality or wrong choice etc.

FORMAT RETURN INWARD JOURNAL

Date	Particulars	F	Details	Total
Sept. 2	Tony 20 Packs Of Biro @ N X Each Less 10% Discount CBI 2 Cartons Of Biscuits @ Nx Less 5% Discount Transfer To Sales Return Ledger		X (xi x (xi	x x x

Dr sales Return or Return inward ledger Cr.

Journal x

Presentation:

Step 1: Revision of previous topic

Step 2: Introduction of the new topic

Step 3: Explanation of the new topic

Step 4: General class discussion

Evaluation

What is subsidiary book?

What is a credit transaction?

List and explain the major subsidiary books

Assignment

Simplified and Amplified Book keeping and Accounting page 45 Ex 7x & 8x.

Conclusion:

The teacher summarizes the lesson and give the students note

LESSON NOTE FOR THE SIXTH WEEK ENDING 20^TH OCTOBER 2020

CLASS – SSI

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – PURCHASES DAY BOOK AND RETURN OUTWARD JOURNAL

OBJECTIVES – The students should be able to:

(i) State the meaning of purchases journal and return outward journal

(ii) Differentiate between the purchases journal and the sales journal

(iii) Prepare the purchases journal and the return outward journal

(iv) State the relationship between the purchases journal and the return outward journal.

PREVIOUS KNOWLEDGE – The students have been taught the sales journal and return inward journal in the previous class.

REFERENCE MATERIAL: Amplified and simplified Book keeping and accounting for SS 1-3 by Femi Longe , Essential financial Accounting for SS1-3 by R.A. Kazeem and A.O. Longe .

INSTRUCTIONAL MATERIAL:- White board and marker

CONTENT

PURCHASE JOURNAL:- This is the book of original entry for recording all goods purchased from the suppliers on credit. It is used to record credit sales only.

Format

Date	Particulars	F	Details	Total
Jan. x Jan. 4	James 7 yards of cloth @ N50 each 10 trousers @ N1,000 Less 10% discount Jimoh 5 shirts @ Nx each Transfer to purchases Account		x x xx x	x x x

Dr Purchases Account Cr

N Journal xx

Return outwards Journal

This is the book for recording goods returned to the supplier by the business. It is also called purchases return journal/day book.

Format

Date	Particulars	F	Details	Total
Jan. z	James 2 yards of cloth @ Nx each 1 trousers @ Nx each Less 10% discount Jimoh 1 shirts @ Nx Transfer to purchases return Account		x x x (xi	x x x

Purchase return/return outward account

Journal x

Presentation:

Step 1: The teacher revises the previous topic

Step 2: Introduction of the new topic

Step 3: Explanation of salient points

Step 4: General class discussion.

Evaluation:

(i) Differentiate between the sales journal and the purchases journal

(ii) What are the reasons for goods being returned either by customers or to supplier?

Assignment:

Simplified and Amplified Book keeping and accounting page 37 Ex 7x, 10x and 12x.

Conclusion:

The teacher summarizes the lesson and give the students note on the topic taught.

LESSON NOTE FOR THE SEVENTH WEEK ENDING 27^TH OF OCTOBER 2020

CLASS – SS1

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – The subsidiary books

SUB-TOPIC – Purchases day book and return outward day book.

PREVIOUS KNOWLEDGE – The students are taught in the previous lesson about the sales day book and return inward day book.

Behaviourial Objectives – The students are expected to:

(i) Differentiate between the sales day book and the purchases day book

(ii) Prepare the journal for purchases and purchases return.

INSTRUCTIONAL MATERIALS: White board and Marker

REFERENCE MATERIAL: Essential financial Accounting for SSS by O.A. Longe et al and Simplified and Amplified financial Accounting by Femi Longe .

CONTENT :-

Enter up the purchases day Book and return outwards day book of Duduyemin from the following information

May 1 credit purchases from Akala

15 shoes @ N100 each

30 shirts @ N50 each

Trade discount 10%

May 10: Return goods to Akala

3 shoes

5 shirts

May 15: Bought goods from Isiaka

30 crates of coca-cola N100 per create

15 crates of fanta @ N150 per crate.

May 27: Returned goods to Isiaka

10 crates of cocacola

3 crates of fanta

Solution

Duduyemi

Purchases day book

Date	Particulars	F	Details	Amount
May 1.	Akala 15 shoes @ N100 30 shirts @ N50 Less 10% discount		1500 1500 3000 300	2700

Date	Particulars	F	Details	Amount
May 15.	Isiaka 30 crates of cocacola @ N100 each 15 crates of fanta @N150 each Transfer to purchases Account		3000 2250	5200 7950

RETURN OUTWARD DAY BOOK

Date	Particulars	F	Details	Amount
May 11 27	Akala 3 shoes @ N100 each 15 crates of fanta @ N50 each Less 10% discount Isiaka 10 crates of cocacola @ N100 3 crates of fanta @ N150 each Transfer to R.O. Ledger		200 750 1050 105 1000 450	945 1450 2395

Presentation

Step i: Revision of the previous lesson

Step ii: Introduction of the new topic

Step iii: Detail explanation on the new topic

Step iv: General class discussion

Evaluation

Differentiate between “Customer’s and a “supplier”

What is the difference between the Return inward journal and the return outward Journal?

Assignment

Simplified and Amplified financial accounting by Femi Longe page 34 Ex 10x.

LESSON NOTE FOR THE EIGHT WEEK ENDING 03-11-2020

CLASS – SS1

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – INTRODUCTION TO LEDGER ACCOUNT

PREVIOUS KNOWLEDGE – The students are used to the journal entries.

BEHAVIOURAL OBJECTIVE – The students are expected to:

State the meaning of the ledger account

List and explain the various types of the ledger Account

State the uses of the ledger account

INSTRUCTIONAL MATERIAL – White board and marker

REFERENCE MATERIAL – Essential financial accounting for SSS 1-3 by O.A. Longe and R.A. Kazeem and simplified and Amplified Book keeping and Accounting by Femi Longe .

CONTENT:

The ledger Account is a principle book of account that contains permanent records of all transactions of the business in a classified and summarized form. The ledger is the most important and fundamental book of accounting in which the principle of double entry is strictly adhered to in the recording of transactions.

CLASSIFICATION OF LEDGER

Personal ledger

Sales ledger account

Purchases ledger account

General ledger account

Nominal ledger account

Real ledger account

Private ledger account

Capital ledger account

Drawing ledger account.

SPECIMEN OF A LEDGER ACCOUNT

Dr Cr

Date

Particular

Amount

Date

Particular

Amount

Summary of entries in the ledger Dr (debit) the receiving account (receiver) Cr (credit) the account giving value (giver).

Presentation:

Step i: The teacher revises the previous lesson

Step ii: Introduces the new topic

Step iii: Explanation on the new topic

Step iv: General class discussion

Evaluation

What is a ledger account?

Differentiate between the journal and the ledger account

List and explain the headings of the columns in a ledger account.

Assignment

List and explain with good example the division of the ledger account

Simplified and Amplified Book – keeping and accounting for SS 1- 3 page 50 Ex 2 and Ex. 6x.

LESSON NOTE FOR THE NINETH WEEK ENDING 10-11-2020

CLASS – SSI

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – Single/one column cash book

BEHAVIOURAL OBJECTIVE – The students should be able to:

State the meaning of the single column cash book

Draw the ledger of a single column cash book

Explain each column of the single column cash book

Solve problems regarding to the single column cash book

PREVIOUS KNOWLEDGE – The students had been introduced to the ledger account in the previous lesson.

INSTRUCTIONAL MATERIALS – White board and marker

REFERENCE MATERIAL – Essential financial Accounting for SSS1-3 by R.A. Kazeem et al.

Simplified and Amplified Book – keeping and accounting for SSS 1-3 by Femi Longe .

CONTENT:

The single column cash book is a cash book that has a total of eight columns divided into two equal parts. Four columns to the left hand side known as the “Debit” side and four columns to the right hand side known as the “credit” side.

The debit side is used to record the amount received for a particular transaction while the credit side is sued to record the amount paid for a particular transaction.

Format of a single

Column cash book

Dr Cr

Date

Particular

Amount

Date

Particular

Amount

ILLUSTRATIONS:

The following was extracted from the book of Ndubueze for the month of January 2000.

Jan. 1 Started business with N2000 cash

2 Cash purchases N500

4 Cash sales N1500

7 paid rent by cash N200

11 Paid for insurance by cash N300

15 Cash saler N1000

22 Withdraw cash for personal use N200

27 Bought office machine by cash N200

28 Cash received from Olu N250

29 Paid electricity by cash N150

31. Paid salaries and wages by cash N500

You are required to enter the above transaction in the cash book of Ndubuisi for the month of January.

Solution

Ndubuisi

Cash account for the month of January 2000

Dr Cr

Date	Particular	X	Amount	Date	Particular	X	Amount
Jan 1 4 15 28 Feb	Capital Sales Sales Olu Bal b/d		N 2000 1500 1000 250 4750 2400	Jan 2 7 11 2020 22 29 31 31	Purchases Rent Insurance Office machine Drawing Electricity Salaries & wages Balance c/d		N 500 200 500 300 200 150 500 2400 4750

Presentation

Step i: Revision of the previous topic

Step ii: Introduction of the new topic

Step iii: Demonstration of the new topic

Step iv: General class discussion.

Evaluation

What is a single column cash book?

How many columns has a single column cash book.

Draw and explain the various column in a single column cash book

Assignment

Essential financial accounting for SS1-3 by O.A. Longe and R.A. Kazeem PAGE 44 Exc. 5-6 A.

Conclusion

The teacher summarizes the lesson and gives students note on the topic

Lesson Note For The Tenth Week Ending 2020-11-2020

CLASS – SS1

DURATION – 40 M/P

NO OF PERIOD – 4

TOPIC – CASH BOOK

SUB – TOPIC – Two column cash Book

BEHAVIOURIAL OBJECTIVES – The students are expected to:

State the differences between the single column cash account and the double (two) column cash book.

Solve questions involving two columns cash book.

PREVIOUS KNOWLEDGE – The students are familiar with the single column cash book.

INSTRUCTIONAL MATERIAL – White board and marker

REFERENCE MATERIAL Essential financial accounting for SSS 1-2 by O.A. Longe et al and simplified and Amplified financial Accounting for SSS 1- 3 BY Femi Longe.

CONTENT

Two column cash account is a ledger account that has a total of ten (100 columns divided into two equal part i.e five (5) columns to the left hand side (debit side) and five column to the right hand side (credit side).

Contra entry – This is a transaction that completes its dual entry in the cash book.

Format

Dr Cr