Comments

  1. avatar says

    Hello sir
    chapter 2 the statement of financial position and income statement part a…
    the (f) why cash is 6400…!
    why am asking this because we have bought the car for 3000 and we have cash 4000 (4000-3000=1000)
    So cash is 1000 right
    I really don’t understand this part
    pls explain me

    • Profile photo of John Moffat says

      The business started with 10,000 (a).
      They bought a shop for 2,000 (b), goods for 1,000 (c), and a car for 3,000 (e)

      So the cash left is 10,000 – 2,000 – 1,000 – 3,000 = 4,000.

      In (f) the sold goods for 2,400. So they now have 4,000 + 2,400 = 6,400

  2. Profile photo of Rustam says

    Mr John, according to DEAD and CLIF theory: (DRs)? in Drawings results in ? in Assets (cash). or ? in Trade rec. leads to ? of cash. ive just started but i am really interested in more thorough understanding of this genius table. maybe original invention would help… and could you explain other features, please. why EXPENSES ASSETS DRAWINGS are Debits; CAPITAL LIABILITIES INCOME are Credits? debits are all inwards, yes but what about drawings? just because they ? the Capital introduced? or could i think of them like negative figure under the debits?
    Thank you Sir.

    • Profile photo of John Moffat says

      The best will be if you watch the next lectures in the course which go through double-entry bookkeeping, because there I explain why debits are debits, and why credits are credits (and why drawings are a debit – yes, they are like negative capital). I do explain it all in the lectures, and you can understand that I cannot type out all of the lectures here :-)

  3. avatar says

    Dear sir,

    Good day,

    Last year I make use of your F1 material and I pass with 60%. Thank you open tuition.
    I just start study for F3, enjoy the lecture so far… I believe I will make the paper as well.

    Thank you open tuition for making this materials available to us.

    Warm regards.

    Ayodeji Ajayi.

  4. avatar says

    I just started studying the lecture notes simultaneously with the videos and I must confess it has been seamless.I just understood the basic foundation ignoring the debit and credit as you advised. I am moving to chapter 2b and I hope it continues to be this easy to understand. I am planning to take F1 F2 and F3 come June.

    Thank you open tuition.

    Yemi

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