General Ledger and Account Sequencing

Practice vocabulary and folio sequencing for Grade 9 General Ledger accounting based on the provided lecture notes.

$$B1$$

Capital, classified as Owner's Equity (Own Capital).

$$B2$$

Drawings, classified as Owner's Equity.

$$B3$$

Loans, classified as Long Term Liability (Borrowed Capital).

Fixed Assets

A category of accounts including Land and Buildings ($B4$), Equipment ($B5$), and Vehicles ($B6$).

$$B7$$

Fixed Deposits, classified as Financial Assets or Investments.

$$B8$$

Trading Stock, classified under Inventories.

$$B9$$

Debtors Control, classified under Trade and Other Amounts Receivable as a Current Asset.

Cash and Cash Equivalents

A Current Asset category including Bank ($B10$), Cash Float ($B11$), and Petty Cash.

$B11$ (Liability)

Creditors Control, classified under Trade and Other Amounts Payable as a Current Liability.

$$N1$$

Sales, classified as Income in the Nominal Account section.

$$N2$$

Cost of Sales, classified as an Expense in the Nominal Account section.

Income Accounts ($N3$ to $N6$)

A group of accounts including Current Income, Rent Income, Interest on Current Account, and Commission Income.

Expense Accounts ($N7$ to $N10$)

A group of accounts including Water & Electricity, Consumable Stores, Salaries, and Advertising.

CRJ and CPJ

The Cash Receipts Journal and Cash Payments Journal used for posting to the General Ledger.

Posting Steps

The manual or computerized process of entering the heading, naming Dr and Cr sides, entering column headings, identifying accounts, and arranging them in sequence.