2026 05 06 PoA F 5 Exam season Session 10 Jan 2026 Set 3

then Then so. Yeah, so then got it. Yeah, it be fun working at your chicken you got. Yes, am. Yeah, it's the same. Cool. Okay. Thank you. Hey, Samaya. Morning. Yeah, yeah. How you doing? How you doing? was little late. was taking my son but had to stop to get something to carry on my too. Princess Kelly, we're doing the John 2026 people. Uh-huh, fasting principles. Okay, thanks. Right, okay. Yes. Okay, Right, okay. Mhm. Mhm. All right, so we have them running. We have one more question to do to finish off the John 2026 people. All right, so they had kind of piece of partnership theory. They had opening balance sheet which wasn't really partnership statement you see. They said they had two sets of assets and liabilities to pull from and of course calculate capital, which is not something specific to partnership. And then they had profit sharing ratio thing down here for like five marks, right? But they wanted return on investment, which is not again something not partnership specific. Okay, cool. So, on to question five. So, it's three pages on the paper itself. So, let me just print that out for those in person. And print out the answer booklet that appears the corresponding answer booklet pages, too. Sorry, one second. Kimberley and Divya, how are you all doing? Right, so that was that. No, hold on. That's not booklet. There's booklet here. Right. Boom. That was the calculation, right? So, we have this. That. Good. right. Hello. Right. Right, so let's just give that minute or two to sort out. I'm going to just hail out to anybody on YouTube. Uh-huh. Anthony, you gaming with me? Ellie, is that your streamer? Who's your partner? Are you streaming on Twitch? Anthony, you know am extremely sorry. It's all good. Liberty, bye-bye. You're good. Yeah, no, no, was here. Tuesday. At least Jan 2026. Last question. Yeah, guys. just give me second. I'll print out these stuff for my kids in class here and then we will start going through it. Almost there, boy. Right. That's that piece there. This one had print now. Right. Am live on YouTube? am actually. Lira. Lira Lira. Let's stop. 25 minutes left. Let's stop. Good night. You got 300 ready. Questions. Questions. Now we have Berlin. All right folks, the last question on Jan 2026. I'm going to drink some water. Is it carry? Hey Zach, what going on? You good? No worries. was late too. check. Answer is two. Answer is three. One. Sorry. Right. So, this is the question. Hold on. Yeah, it's the first piece. I'll go through it. Just want to I'm just on Turn off the I've got quick question. Do you know what's up? Sorry about that. just had to Okay, that was Cook on the water? Yeah. If you want to cook on the water right now. No, that's the song. The song? Yeah. Is that like new or Yeah. all right. All right. All right, folks. Sorry. So, yeah, sorry for just kind of zoning out there. was just sending an answer to another teacher friend. So, she's asking me for predictions. I'm like, do no predictions. But with with with the observations we have both made, Okay, guess Okay, we could take quick look before we start here. Although, don't want to distract you, but am going to nonetheless. Okay. One second, All right. So, look. 2020, 2021, data sheet account. So, looking for All right. Anybody seeing control accounts or manufacturing in this section in 2021? No. All right. So, control accounts control Right. They have manufacturing here. But it was kind of scaled down. They have LLCs and then the strip it out absorption costing those sections that they put in the syllabus, right? You have manufacturing here. Budget, you have error and control. You have our cooperatives, right? That was our kind of biggest one. We might need to do that one to be honest, right? cash book bank, correct? LLCs. This was just journal entries and other issues, right? Partnerships came big in 2024. want to do that question later. Budgets again. Payroll, right? Double entry, we did that one. And then 2025, as we saw, right? Statement of account, cash book, LLCs and big for over two questions. Strip it out syllabus and then no profit, right? You also control accounts anywhere there? No. And then between 2025 and 2024, also no manufacturing, right? There was budget here in 2024, so they skip year. And errors and suspense. You all seen any errors here or here? What about here? No. All right. Now, January, what you're doing is so they didn't bring it in this giant paper, but they brought it in this giant paper here. And up at the top here, right? Books of original entry cash book, employees pay, depreciation manufacture. But it was small manufacturing. Stock valuation also hasn't made big any any appearances in the May papers, right? Like we have to follow the new Yeah. Yeah. Receipts and payments, they were 2024, 2026. And feel like we saw it in the May paper at some point. Did we? No. Yeah, down here. Yeah. So, 2024 January, 2025 May, 2026 January, right? And you know, again, not trying to make predictions here. mean, yeah, kind of, but again, I'm not I'm not trying to predict what's coming. I'm just trying to show you some stuff. So, after we finish this, we're going to take break again for about an hour. I'll collect my next one, come back. We're going to jump control accounts, manufacturing, what you want me to say? Errors and suspense. maybe might look at stock valuation before we finish this year. did promise somebody else provision for bad debts cuz think that one might don't don't actually don't actually don't don't. just know that it hasn't come in while. Depreciation has popped up recently, but not provision for bad debts. Anyhow, folks, sorry, I'm putting up answers. shouldn't put up answers, right? we going we going going back here. For each of the descriptions listed in the table on your answer booklet, place check mark in the appropriate column to select which type types of businesses relate to the description. Note that some descriptions may relate to more than one type of business. Okay, so can't fit the whole thing there. So, what I'm going to do is I'm going to put split in the screen at the top. So, we could scroll down. All right. So, hold on. How can Can go to 200 with this? Yes, can. So, have to pull this back down. Yeah, like 200. Right. know know you all can see with the 150, but let's let's, you know, let's make it little easier. All right. So, we have to what we have to put tick any box? Tick box which is right. again, if they giving out if they giving out marks for free, take it, right? might complain, might not like it. That matters not, right? Matters not. Okay, owned and controlled by its members who are also the main customers. That's cooperative, for sure. Owned and controlled, right? hold on, let me just put check mark inside of here. line, arrow, rectangle, whatever. Pencil, I'm going to try pencil, right. No, okay. Hold on, that could work. Okay, that could work. Why not? All right. Liability is not owned by the any any shareholders are not necessarily mean they usually wouldn't members. Members has to do with cooperatives, right? Non-profit organizations are not owned by their members, right? But mean when they talk about non-profits here, they're implying clubs because they put cooperatives separately, right? Really and truly cooperatives kind of does fall under the not-for-profit or non-trading organizations, but my instincts tell me non-profit here is talking about the clubs and sports societies, that kind of stuff, not cooperatives. Okay. Members who own the most shares have the other greater say in how the business is operated. LLC. Limited liability, yes. Yeah, very good. Sorry, yeah. Right, cooperatives doesn't matter how many shares they have, they have one vote. So, it's it's democratic. Everybody has an equal say. Non-profit, right? And please note, they say members here, too. So, people must say Sorry. Sorry, Arlene. No, this is what we have to do with the first year of the syllabus. Well, here now, like said, they're trying to tune piece of the syllabus into PE Cuz when we looked at the syllabus earlier, and it probably different types of entities, they had characteristics, advantages, disadvantages. Now, don't get me wrong. I'm not saying that accountants shouldn't know those things. I'm not saying that. I'm just saying that it's not in the PE syllabus. So, is it going to make you do PE and PE to avoid the overlap? But some people do PE and not PE. So, they have to have kind of at least passing knowledge, right? But it it just seems to me like they're bulking it up and they're taking out accounting content. But again, as they say, accounting is the language of business. And yeah, and you should know, yeah, some characteristics different types of businesses. So, I'm not totally against it. have Yeah, on the fact that Mhm. with that because if people with PE are don't know like think this one like so not for us, but for people who are not Boy, hear you, but doubt they would get so so accommodating. But you never know. You never Anyhow, number three, owned and controlled by its members, whose liability cannot exceed the value of their share capital. Well, that's the definition of limited liability. Cooperative, boy? No, don't think mean, obviously cooperative, you can actually that too, but don't double check that one. Each member has an equal say in the control and operations regardless of the number of shares owned. That's cooperative, for sure. Right? All members share common goals and interests, which are not necessarily profit making. All right, this one could be cooperative and nonprofit. Right? They did say some of these descriptions could apply to more than one entity, right? Obviously, LLCs profit making, so it can't be that one, right? You get marks for what you have correct. If you do tick some of that should have been taken is kind of getting marked there, but it wouldn't like not give you any marks. So like if you were supposed to take two and you take one, you get your mark for what you take. You get your mark for what is what you have right. Yeah, so yeah, yeah, it's it's not it's both of them. All members share common goals. Yeah, that's basically, yeah, probably again. Shares are not sold by the business's members on the stock market. that had to be cooperative. Hold on, just now, wait. Yeah, well well, cooperatives are not publicly traded. Shares are not sold by the business's members on the stock market. That could apply to LLCs, but only certain type of LLC, which is private limited company. So So it it could go here, but you'd have to clarify that for private only. So what would do is would would put in the tick. But would also put some for private limited companies only. So if you're feeling like that's something you want to do, then you could do it. If not, then just tick cooperative, right? Okay, don't have short keyboard shortcut for that. I'll put it above nine. Yeah. Now, let me just center it real quick. Cool. And bold it. All right, it is legal requirement. Well, so all HD. All right. Hey, good afternoon, Jade. Yeah, it is afternoon. Okay, cool. Yeah, we we now start question five for the Jan 2026 people. They're basically asking us they're they're giving some characteristics across in the description column and ask us to take which which entities they apply to right and in some cases you could you could take more than one entity right but we almost at the end here we just and you also it is legal requirement that part of the annual profits must be saved for the future as cooperatives. That's it's not legal requirement for federal disease. All right. Can not just copy it down? Thanks man right cool right and run by people who are not necessarily owners that is LLCs. Right cooperatives yeah. Do not the clubs have owners boy they have members who pay membership fees they have to have some kind of member management body but don't know that they have shares but but like clubs. That does not they don't know what that They raise capital somehow that's interesting don't think ever did that. Okay cool so what we going to do we going to just maximize this thing here we going to let's let's zoom out and then zoom back in cuz clearly we that's too small. So if it's five marks maybe we're looking for 10 ticks each tick is half mark but 1 2 3 4 5 6 7 8 9 10. So think it fit. All right in class people have you any questions issues problems anything you want to re-explain? Are you okay with that one? All right cool we'll meet you in the drill if you guys are good with that imagine you chat for thumbs up. All right if you have any questions anyone to push back on no no problem let me know right. If you have question Yeah go through what's up? for for item Item Why for non-profit non-profit, right. Well, I'm trying to figure out who owns So, what So, when think of non-profits, I'm thinking of not cooperatives, but like clubs. So, I'm trying to think of That's what was saying, like so who owns club? Who Does anybody own club? Is it business entity? mean, it is an entity. It is not-for-profit entity. And so, you have to have some kind of management structure ownership-wise, cuz mean, with with non-profit entity Sorry. just just now, Aaron. with non-profit entity like that like said, when when was doing that in school, we just saw statement of affairs, which was basically that what they call their balance sheet. And we just had capital or actually they call it accumulated fund. That is their their their word or their phrase for capital. But we never We were never shown where it came from. It would always just be there. So, I'm trying to figure out where it came from. mean, because as you say, you see they say members. So, of course, the club can have members. And they pay they pay subscription, which is like membership fee. But they pay it annually. So, to me, that's not the same as like but like when you you you contribute share capital. So, when you contribute share capital, you do that once. mean, you can always buy shares on on an ongoing basis or intermittently, right? So, that's what I'm trying to figure out now because understand they say run by people who are not necessarily owners. For cooperatives, know for sure that in order to be part of the management structure there, you have to be member of the cooperative, right? So, know for sure for cooperatives, item eight doesn't apply. It is run by people who who are members. But for the non-profit, see where you're saying, but the question have on that is who are the owners? You know, who owns the non-profit organization? That's my question. Because try to try to rack my brain if shake up it up. never saw journal entries to start non-profit, right? So, that that's something that's interesting. But, anybody have any notes or so in school? Did you guys do non-profits at all apart from recent payments? No? All right, then. Right. Seven? All right. 37 item? legal requirement that part of the annual profits be saved for the future. This one here? Yeah. All right. So, so what what is your question about it? So, want to know So, No, no. You have to save the part of the annual profits, which we call surplus, is saved for the future. So, you know like how in cooperatives they have transfers to the reserves? So, do know of as like situation Well, not situation, but of of of what they're talking about here. That for cooperatives, it is legal requirement that you have to transfer specific amount to your surplus to general reserve to save for the future. So, you can't distribute all as dividends or as other things like dividends and what do you call it? Patronage refund and honorarium and that kind of stuff. You have to put aside some for the future. Right? But, Well, mean, hear what you're saying. But kind of understand if there's any scope for this other ones. Mhm. No, no, they still have the members, right? But but what what they're talking about here doesn't mean that they're not serving any members. You can still pay out some as dividends, but you have to put aside half is legal requirement to put aside part. Part means some, right? Some of your profits for the future, right? You still you can still pay out some as dividends, you can still transfer some to other reserves, you can still do your honorarium and your pension and injury fund, right? But there's specific percentage you have to set aside. So, when you know what percentage that is, you can then budget around that for your other appropriations. All right, so yeah, think it's think it's okay for that. All right, let's let's press on to the last part. It's the following information relates to the Grand Grandy Grandy Grand Grande Ravine Farmers Cooperative for the year ended 31st December 2025, right? So, Grande Ravine Farmers Cooperative trial balance as at end of 2025. Now, think we we we we took look at this bit earlier when was over it yesterday. We were talking about for question one where we had the what it was it was the cash invoice and then the the discount we made payment for something from petty cash and on the cash invoice there was discount being deducted and they were asking what would you call that kind of discount in the cash book? And we were like, but you're not paying from the cash book, you're paying from petty cash. So, you record the payment in petty cash. How do we separate the discount and put it in any order? So, what was saying is that sorry, one sec. sorry guys, just give me quick minute. have to do something here. Okay, right. But we were going through the the trial balance here. Right? And we said that there were some items here that didn't We would say they didn't make sense. Let me explain. So, bank charges and it So, we know what bank charges are. As at the end of the month, the bank literally charges you for doing what? hold on 1 second. This is what? Okay. Who is on me? Yeah. The bank literally charges you for administering your account and interest maybe like if you have an overdraft or whatever, right? So, if there are bank charges present in the trial balance, cuz this is trial balance, is complete trial balance, it balance the the columns agree, right? If that is the case, then there should be bank account. If you look in the trial balance, do we see bank account? Do we see bank account with credit balance as in an overdraft? We looked and we did not see because one is not there. So, that was interesting. So, okay, maybe maybe the the balance in the bank is zero. So, maybe we don't have to have Okay, could could believe that, right? But then they have interest received as in the credit column, which implies there's interest revenue. So, what do we earn interest on? Maybe we make loans to members, maybe we have investments, maybe there's some other account or something generating interest. You don't just receive interest for nothing, right? But when we look in the in the trial balance, right? AGM is annual general meeting, right? So, obviously you can't earn interest on general meeting. Equipment at cost not producing interest, remuneration, vehicles, motor vehicle running cost, office expenses, and that's it. So, there's no investment on which you earn an interest. So, where did the interest come from? My favorite was the dividends paid. So, it's cooperative. You have to have members and share capital, right? And yes, you can pay dividends on that. no problem with that. But here is question. Where is your capital? am not seeing it. Yep. So, yeah, what what what what exactly is going on here? am not entirely sure. Anyhow, the funny part about it is that you could still do what the question is asking you to do. Completely without issue. Right? So, let's see what they are asking you to do. Now, they have some additional information. Membership fees due at year end was $24. So, membership fees, membership fees. Okay, so membership fees. that's big revenue item there, boy. Wow. So, we have an accrued revenue item. What do we do with accrued items? We we add them. All right. Motor vehicle running costs owing. Owing is another word for accrued. So, again, this 11,000 will be added to the figure up in the trial balance. Office expenses paid in advance, 20,000. Well, that's prepayment. What do we do with prepayments? Subtract them. And then we have depreciation. We have straight line on the equipment, but reducing balance on the what you call it, motor vehicles. And we have we have So, 20% statutory reserve. And then honorarium. They have the straight line method reducing balance and the only method Sorry, say that again. see The straight line method? The straight line method is where we charge the same amount for depreciation every year over the asset's life. And if they give you percentage, all you have to do is multiply the percentage by the cost of the asset. All right. All right. Okay, so, the first thing they want you to do here, ladies and gents, right, is to do an income and expenditure account for Grande Riviere Farmers Cooperative for the end of that, right? Now, an income and expenditure account is basically an income statement. Right? It's an income statement, but you have no cost of goods sold, right? So, what you do here is you put your dollar signs. Right? Right? You put your dollar signs. The head of income. And we're going to put all of the items of income. So, what we're going to do first is let's identify those items of income, shall we? So, items of income would exist in the credit column. Credit column mean you want it to the right. So, we have interest received, membership fees, okay, those two are definitely incomes. provision for depreciation, not those are contra assets. Statutory reserve and undistributed surplus, those are not income items, those are reserves. So, we have two income items, right? We have interest received and membership fees. So, that's the which we have membership fees due at the end of the year, right? So, hold on. Right. So, membership fees. Now, it doesn't matter the sequence in which you list your incomes, right? Once you have them in the income section, right? So, you have membership fees there and you have the you have an accrued portion there, right? Then for the interest received, put that one in the green. Right. Right. So, interest received, right? So, what want you to do, once again, is in your income and expenditure account, which you've headed up for you, you put your two dollar signs in each column, the head of income. You have interest received, membership fees here. Right? So, you're going to put your interest received here. Your membership Now, remember, membership fees has an accrued portion, so you have to add that on. You have to add the 33, think, on 3576. Right? And you're going to add those two income items and shift that subtotal to the right column. All right? So, okay. Let's go back here. Yes. sorry, it was 24, that's why was Yes. I'm sorry. It was 24. don't know why said 30. 24 and 576. What is that That is nice flush figure of 600,000. so, not yet. Not yet. Not yet. Not yet. Right. As was telling you yesterday, have roasting fever. like what time to get sick with. Not the time to get sick at all. Michael Leon, I'm on YouTube, too. Yeah. All right. Uh-huh. Yeah, maybe in stereo. One in one ear, one in the next ear. Yeah, but but let me make call. I'm wondering if can do Good people all the time. You want me food? like that. Mhm. Corporate Terrace. You want to see you right. Right. Not yet. Right. Good job. Mr. Eddie. Michael, you want to You want to help me sell my house? got to assist him few week class. Anyway, we'll talk about that when we get in. Uh-huh. Uh-huh. All right. Okay. You got any good Who do you mess with 24 hours? Good luck with that. This thing. Predictions for tomorrow. don't like to make predictions in the market, but will indulge. will indulge you with disclaimer. All right. Let's push that up. Bring these one. Okay. Put this down. Right. Cool. Right. Okay, so Grande or Gra- Grande, Grande, Grande, right. Ravine Farmers Cooperative, right. Income and expenditure account. So, again, as non-profit organization of income an income statement. Try ChatGPT for predictions. Good luck. All right, so income. So, we have again two items. So, we have interest received. Right, so interest received is 21,000. That's green item. Now, membership fees, so again, you had you received 576. And you there was still 24,000 due at year end. So, that means it was it was not received, but it was earned. It was supposed to be received, paid to you. So, that's an accrual, an accrued revenue. Now, whether it's accrued revenue or accrued expense, it has to be added to the trial balance figure above. So, we're going to add 24 to 576 and get 600,000. And then we simply going to add these two and get 621. Are we okay with the income section? All right, cool. Okay, Google Meet you all. So, if you guys are good with the income section, give me quick in the chat or thumbs up, either one works for me. If you have any questions, please do please do ask them. Yeah. Yeah, that's that's just there what they call it, right? And again, because it's non-trading organization or not-for-profit organization, they they wouldn't have goods that they resell. So, there'll be no like cost of goods sold or that kind of stuff. Now, when we used to do clubs as topic, we used to have to have to do separate what we call bar trading account or cafeteria trading account, right? Which would basically be like mini income statement. And sometimes they had to do control account to get purchases and they get sales. It was fun. It was It was maybe not balance sheet but it would it would that's how they would produce like yeah, how they would calculate profit and and then or or loss. All right? All right. Okay, give me one second. All right, guys. So, now we are looking for expenses. So, let's put the ex- let's highlight the expenses, shall we? Right. So, bank charges, right? So, expenses would have debit balances, right? Now, it doesn't mean every debit item is an expense. Some are assets, right? So, bank charges and interest, for sure. AGM cost, right? Now, equipment at cost is an asset, not an expense. Dividends is an appropriation. That goes in the appropriation account. Auditors' remuneration, right. Motor vehicles, right? Motor vehicle running costs, yes. Office expenses, yes. Right. Now, we have some adjustments to be made. Now, won't be able to fit all the everything on the screen visibly, right? and may need to do different colors for certain things, right? So, here here's what we're going to do, right? What we're going to do, I'm going to split the screen, right? On the bottom of the screen, I'm going to put the right, we have the additional information here, right? So, we don't need the first one anymore. So, we don't need it. So, What what what Right. So, what want you to do to do, as we go along, you're going to populate your expenditure. So, sorry. So, forgot. Right. So, after we have We just Right. After you have your total income, the next line is expenditure, right? So, that's going to be second section, guess you could say. Right? I'm going to list the items of expenditure as we go down, right? So, these are like this is this is like expenses section in the income statement. Basically, the same thing. Right. So, as So, what we're going to do is we're going to Sorry. Yeah. We're going to enter them as we go down, right? So, first one in is bank charges and interest, right? Now, some people like to put bracket or minus sign or something to indicate hey, this is negative item. It's It's an outflow. You are under no obligation to do that. That's what was taught. That's what like to do, but again, it's not necessary. So, if you're not accustomed doing that, don't do it. But just remember where you had minus where you had minus. Do Do Do not omit some kind of visual cue if you keep adding these things, right? If you keep adding these things and you're supposed to subtract, you need visual cue to remind right? And in case of the exam, right? Sometimes things don't click all the time that you want to click. So, help yourself. Right. So, bank charges and interest, cool. Next one is AGM cost. So, you enter AGM cost there. Cool. Next item is equipment. Right? Now, sorry, not equipment, right? So, let me put it as an output pool. So, you know that hey, we have something little different going on there, right? Right. Hey, it's not exactly right. Equipment is 10% per annum using the straight line. So, okay. So, head up depreciation {dash} equipment. Now, it says 10% per annum using the straight line method. So, under the straight line method, we have the same charge for depreciation every year over the asset's useful life. Now, of course, you have formula. Cost minus residual or scrap value divided by estimated useful life. We don't have that information except for the cost, but we have percentage. So, all we do, ladies and gents, is we take the percentage and then multiply it by the cost. By the cost, right? So, for your equipment depreciation, it'll be 10% of the 300,000. Mhm. Sorry. Okay, in English now? Or is that the same thing Yeah. If feel get rushed on the Virgin exams, don't know. don't know what it is or how to do it. just know that the end product the end product sometimes is not up to mark quality wise. Sorry, right. So, 10% of 300,000 is 30,000, right? So, as we go down now, right, we have auditors remuneration. Right. The motor vehicle at cost. Now, motor vehicles Okay. So, should have should have put some different color. Right, let me do that quickly. Right. So, motor vehicles at cost. I'll put that one in orange. don't know. Right. Right, and yeah. Right, so auditors remuneration. So, remuneration simply means payment, right? For services rendered. Remunerate means to pay, right? So, that goes in there for sure. So, the motor vehicles and costs is next up, right? Now, again, you don't have to go in this specific order. You can leave depreciation over the last. You can put them first, or whatever the case is, right? Yeah, sorry. Okay. So, the motor vehicle running costs and office expenses, you can plug those in holes here, right? For the motor vehicles depreciation, that is reducing balance method. For the reducing balance method, you take the depreciation rate and multiply it by the net book value. The net book value is the cost minus the existing depreciation. So, you're going to take 270 and minus the 58 first, and then you're going to find 20% of that. All right. So, again, for the auditors remuneration, motor vehicle running costs and office expenses is plug and play. No adjustment necessary. Put them in as they appear. Depreciation Sorry, wait, no, lie. Office expenses has an accrued port and prepaid portion. And motor vehicle running costs has an accrued portion. Okay. Let's get some different colors going. So you see why it's important to have your information up and to read it. All right, so motor vehicle running costs Okay. All right. Yeah. Right. And then office expenses, let's put that one different color, too. We're going for that one. Kind of red. Cool. Hold on. Okay. Yeah, so sorry. Audit remuneration, that's plug and play. Straightforward. Motor vehicle running, you have an accrued portion. You have portion owing. That's an accrued portion. What do we do with accrued portions? We add them. So 89 + 11 is 100. For the office expenses, right? That piece is prepaid, paid in advance. It's prepayment. What do we do with prepaid portions? We subtract them. So it'll be 20 subtracted from 130, which is 110. And then for the depreciation, for the again the motor vehicles, it's the reducing balance method. So you have to take 58, the net the provision for depreciation, or accumulated depreciation, as some people prefer to say. Take that away from the cost first, and then multiply by 20%. All right, so I'll give you few minutes to sort that out. If you have any questions, you want me to re-explain, it's not problem. Let me know. The curve for pure You know, interestingly enough, the examining body has said they don't grade on curve, but we don't know how else they could grade if they use We don't even know. Yeah. Well, again, we Check with your granny SBA, right? You figure like SBA is 20%, right? Yeah. So, you figure like 16, 17, 18, anywhere If you figure 20, better yet, right? Let me just say 16. Right? Multiple choice is still 30%. If you could nail down 28 out of that 30, which is quite possible. 28 and 16 is 44. Right? The long paper is 50%. Let's go half of the long paper, that's 25. 25 and 44 is 69. That's solid pass and probably two. Right? Again, they've never indicated what percentages go to what grades. They never indicate grade bands, anything like that. They don't say boo. Right? They're very cloak and dagger when it comes to that stuff. don't know why. Where you get that information from? Where? From CXC? verified CXC source? Right. Okay, so let's plug in these figures, right? Right, so the first one we said was the bank charges and interest. We started that up, right? see 32. AGM costs were 36, right? So don't have it now. Basically you can see here. Is it cool? Right, so the equipment so what did do next? did the Okay, so did all the third remuneration 30. Then motor vehicle running. Right, like we said that was 89. Plus the accrued portion of it now. So 89 plus 11 is 100. Then office expenses so they had prepayment of 20. And 130 neutral balance. So you subtract 20 from 130 you get 110. Right? So for the equipment it was 10% of 300 which is 30. And for the motor vehicles it was 20% of what was that? 212. It was what? 4 424. Yeah, 424. Right, so after you plug in all of those figures you add them up to get total expenditure, right? Which of course you are subtracting from your total income. And that will give you the surplus for the current year. Right, it's actually supposed to be called surplus of income over expenditure. Mhm. Yeah, you take what you ex- what you spent, right? The expenditure incurred away from your total income earned and you have your surplus of income over expenditure. Right, if it was well what we would call loss. If your expenditure exceeded the income you call it deficit of expenditure. Deficit. Well, excess of excess sorry, excess of expenditure over income. That would be what it what it was. So, if expenditure was greater than income, that's what you call it. Okay, in class people, are we okay with the income and expenditure accounts as presented on the screen? Have you any questions, issues, problems, anything at all? No? All right, Google Meet, you know the drill. If you're good with that, then put in the chat or thumbs up. If you need me to re-explain anything, if you have any questions, let me know, it's not problem. Good class, yeah. Yeah, yeah, yeah. It's just like an income statement, just as you can see slightly different layout because you have no cost of goods sold section, but you do have accruals that could happen for expenditure and income. You also have depreciation, right? So, yeah. Okay, now, on the last one. Well, mean, is it due today or is it due tomorrow? So, mean, cuz if it is due today, don't know when you get to do it, so it's not problem. Yeah, it's just that Yeah, yeah. If like to get rid of it and after all of this, we do all of this. Yeah, we have people wanting to do as well. We will arrange We will arrange those sessions little later on. But already have them kind of picked out. Where is my thing? Hold on. 1 sec. exam class exams and classes, right? Let's very quickly write. So, then so we here today. Right? We Tomorrow we there. And of course if you all can must if you all have enough strength left you could be doing maths in the evening. Right? don't know if anybody who not doing pure maths in the morning, but will take little because I've been As you can see these are these have been my last 3 days, right? Well, content today. Right? Basically 9 to 9. So, Right? Maths Friday. have two rounds of my keep on Saturday. I'm not sure if can do the mothers day classes, but feel like we need to because again, don't know how many of you all would be able to come on Monday cuz the other English be there, too. I'm I'm clearing up Monday for you all so whether you come or not right? It's up to you. I'm not forcing anybody, right? But again, right? But then after that now after cuz add maths is the next Monday, right? That's when your pure paper one prep will start. Right? So, And again, that's this is Tuesday, but know some of you all have chem and econ to study for. And history is the same day. know some of you all have history. So again, I'm not forcing you to come to my sessions. If you have things to study for, study for your things, right? If you can come to these sessions, great. If you can't come, again, I'm not going to hold it against you. It's your season. You have to do what's best for you. Anyway, let me sort out the last piece of the paper before it leak over to the next session. do not want that. Right. The last thing we have to do is do an appropriation account. Now, okay. So, we do not have much in the appropriation account to do, right? But so we have right? So, the board of management decided to transfer 20% of the undistributed surplus for the year to the statutory reserve. One sec. Right? Cool. An honorarium of 15,000 is to be paid to management. All right. And there's one thing that they they hid up in the trial balance for you that you had to pay attention to very carefully, which is dividends. So, even though the dividends have already been paid, you have to show them as coming out in the appropriation account, right? And let me just double-check and triple-check here. Uh-huh. and don't forget you also have to show your undistributed surplus. Right? Sorry, like the different color. like it. Right. Orange. Right. Okay. Trying to figure out how to show everything because these two things Okay, no. Okay. All right. Oop. Right. Can you go lower or not? Mhm. Right. Yeah. Okay. Cool. Cool. Cool. All right. So, pull that up little bit more. All right. Yeah. Right. So, you're going to start with your two your 246,600, right? So, in the appropriation account, where did it go? Yeah. In the appropriation account format, which is the next thing here. Right? Grandy Ravine Farmers' Co-operative appropriation account for the year ended 31st December 2017. All right. So, put your dollar signs in. Right? Put Put surplus for the current year. And you can add the surplus brought forward. Hold on. Hold on. Let me make sure I'm giving you the instructions that make sense, right? So, undistributed surplus Okay. No. Now, you could you could add it at the start, but that part in the yellow says the The of management decided to transfer 20% of the what? Undistributed surplus for the year. Right? So, that is surplus we just found in the income statement in the income and expenditure account, sorry. So, it's 20% of that. Right? The honorarium is 15,000, the dividend is 18. Right? So, whether you add the 120 at start or at end does not matter because when you find 20% it's only going to be 20% of the 240,600. All right? That's the yellow, right? The board of management decided to transfer this. Right? So, that's only going to be 42,40600 out of the current year surplus. All right. So, let's knock off that income and expenditure account. and then do have to leave to pick up my older son. But, that that time is actually 2:00, but want to start my next session at 2:00, so I'll try and get him for like 1:30 and drop him home for 1:45 and come back so we can start start at 2:00. Cool. Right. So, that stays untouched. Sorry. All right. want to start starting here. If you still begin as fine and take your time and do your thing, right? Right. So, we're going to start off with 240,600 as the undistributed surplus for the year, right? Now, whether again, if you wanted to add the 120 here, that's fine. You could do that to get total surplus available for distribution. You don't have to. You can add it at the end, but if you added it there, that's fine. Right? So, we have again, just few things. We have the dividends paid. 18,000. Now, this that that that that is an appropriation, for sure. We have transfer to reserve, which is 20% of the undistributed surplus for the year, right? So, the that refers to the 240,600 that we just calculated down here, right? And then, honorarium of 15,000 is given to the board of man, right? Cool. So, appropriation. So, dividends, 18. Transfer to statutory reserve, so 20% of that figure. And then, the honorarium, 15,000. So, we add those together, got 81,120. Subtract that, so that is surplus after the appropriation. And this is where chose to add my undistributed surplus at the at the start of the year, and have 360,600 as the undistributed surplus at the end of the year. So, this is what the appropriation account could look like in its entirety, right? again, if you want slight alternative, what you could do, right? Is you could opt to Hold on, Put this on top of here. You could You could add those two together. That would be total surplus available for distribution. One second, Right. And then we have da da da da da. So, it's Let's add that. Right. What? Why am getting that as the wrong figure? Hold on. 80 35 No. 246. Good. Nope. Nope. What is it? It's 246, right? Okay. So, 80 15 What What is this? Isn't that the same 246? What? So, why am not Okay. All right. And this now Right. 360. So, how am getting the same figure? Hold on. Wait. Wait. Wait. Wait. see what's going on. didn't minus that. Yeah. When When did this, only had didn't subtract the 81. Sorry. My bad. the good thing do is subtract one. 246. Right? They said that the it was 20% of the undistributed surplus for the year, right? So, that's not That is not the 120. That is undistributed surplus as at the start of the year. That was brought forward from previous years. So, this 120 is not the undistributed surplus for this year. That's the previous years undistributed surpluses, right? The undistributed surplus for the current year would come from the income and expenditure account. So, this is the figure on which you would find 20%. Right? The other The other two, right, were just plug and play, right? About the income and expenditure account? it's basically the This is It's the nonprofit version of an income statement. You have section for the income earned and subtotal, section for the expenditure incurred, and subtotal. just like regular income statement, you can have adjustments such as No No, it No, not pre-income statement. This is This is their income statement. This has different name. And then And then after this would come the appropriation account. Yeah. Yeah. And mean, you could update it in the appropriation account by adding the surplus brought forward to the end after you make your appropriations or to the current year's surplus. And that's what the question said, It said, right, the transfers out of the current year's surplus, which is the 246 from the income and expenditure, right? You have your three appropriations, total appropriation, the surplus after the appropriation. You add the suppose brought forward from the previous year and you have surplus carried forward. Or again, if you wanted to do instead where you added surplus brought forward on top, you could do that, too. But, whichever way you do it, you do get the same figure, 279,480. All right. Cool. So, that was the end of the June 2026 paper. Not my favorite paper. little bit annoying in certain in certain respects. but again, you feelings do actually matter about it because it can't change anything. You have to be prepared, right? they brought some stuff here they in question one that was little little off. feel like question two was okay. Updated Yeah, this one was receipts and payments account. The weird thing about it was that you had cash balance and bank overdraft. But, the receipts and payments account only really has one, but guess you could combine it into like single almost like cashbook, then. All right? And you had to do an updated cashbook and bank rec. All right? And then yeah, bank rec down there. Question three, where we did we start today with that? It was talking It was basically almost all payroll, gross pay, income tax payable, net or take-home Yeah, statutory versus voluntary deductions or non-statutory. Question Question three? Which part? 8.3? take-home pay? Yeah, no problem. Yeah, no problem. All right? question four, this one had to do with Yeah, yeah, duty of an accountant internal and external users and their reasons for being interested in the accounting information financial statements. And then four part was can't don't even I'm don't even think they should call this part of this question because mean, really and truly nothing in the balance sheet had to do with partnership as in any partnership theory. Right. second part, right? You had to use You had to find the profit and loss sharing ratio to find how much profit Jenny got and then it express it as percentage return on her capital invested. Question five was cooperatives. income and expenditure, which again they they they they have brought couple times, two or three come to this this time. Accruals, prepayments two types of depreciation and then appropriation account. Right. Okay. So, we have done the most recent five the five most recent past papers from 2024 Jan to 2026 Jan, including the two May papers, 2021 2025. Now, what that means, like said, we have done therefore Right? So, cash book. Now, LLCs came big last year. then they had this stupid business starters syllabus. And it had the receipts and payments account and bank rec again. Right? So, so technically, the receipts and payments and bank rec came two papers in row. So, I'm not I'm not feeling very What's the word? feel like it might not come three papers in row. Hope it does. Well, okay. But even if it does, we have prepared for it, right? How's that? Right? Cuz again, Jan 2026 Where was it? See, receipts and payments of the data cash and bank, correct? So, it came two papers in row, possibly even three. 2024, no, 2024 you had cash and cash book and bank, correct? Right? Did count that? No, was supposed to do Jan 25. My bad. Yeah, Jan cash book, right? Employees pay, accounting principles, depreciation. So, you had small manufacturing here followed by markup and calculation and then the other calculations thereafter. Yeah, consumer arithmetic and whatnot. This stock valuation question was appearing in the backside. With the layout they give you. Errors and suspense came here, right? and May 2025 was here, right? So, no, sorry. Jan 25, right? So, May 24 would have been before. So, cash book and bank, correct? Again, Right? So, we see it there and it came in the Jan 2025. With cash book, but not bank, right? Though, all right? Yeah, LLCs, journals only and some ratio calculations. So, we did that paper. Partnerships came kind of big, budgets came medium, employees pay came there. And full double entry, accounts, no balance and off though, right? Jan 24, errors and suspense came. So, errors and suspense and suspense came two papers in row for January. Did it come for me? No, errors and suspense hasn't come for me in few years well, If you look even up to 2021, yeah. When was the last time errors came for me, boy? Control accounts, the last time was 2017. No, no. There was one after that. Control accounts, 2018. Right. Da da da da da da da da da da da da da da da. Mhm, concepts, yeah, yeah, yeah, concepts and theory. Almost every year they have some little piece of something somewhere. Right? Okay, cool. Right, so here we're going to We're going to take break for lunch, right? for those who have lunch or have not yet done, do them as well. When we come back, we have So, I'm going to try to start about 1:30 or 2:00. So, we have the 2:00 to 3:30. Then we have half an hour break till 4:00. Now, again, we could we could restructure the times based on how you're all feeling, right? But we have until half eight. So, we will have about 6 and 1/2 hours. don't suggest we can stretch for that time because then you're just going to feel sick. And fed up. So, we could work in 19-minute splits that work in better for you all. So, 2:00 to 3:30, we could take half hour, 4:00 to 5:30, take half hour, 6:00 to 7:30. But then after the 6:00 to 7:30, we have 8:00 to 8:30, which is basically nothing. But we could do question in that time. So, you'll figure it out. But definitely what we're going to do after the break, guys, we going to hit two sets of control account questions. One will be an example, one will be for you all to practice. We're going to hit errors and suspense. We did the 2024 and 2025 Jan errors and suspense, so don't think going to do it right now would be beneficial. So, we have to pull from some of the earlier questions. what else we said just now? Manufacturing. We have to do couple manufacturing because it hasn't come for while. recently made people's, right? Manufacturing. 2025. that's Jan. think you're wrong there. Yes. 2022 and 2023, 2 years in row. Not 2024 and definitely not 2025, right? So, maybe. Could be. Could be. And then yeah, and then of course something tell them budget might make an appearance you know. don't know. just something just but hold on, ratios. We're going to touch on ratios for sure. All right, There was we did some we did some. Where was it? Was that this? That was toothlessness. We didn't do 2022 but we did question ratio. It was 2024 John and John. Ratios, liquidity. There was none in this paper. And in me I'm not seeing any ratios here. Ratios here in 2021. Not in 2019 and then 2018. Yeah. All right guys, so So guys, Jonas Dahlgren. I'll grab couple of these. All right, so the stuff we're going to study control accounts manufacturing errors and suspense ratios provision for bad debts and put little asterisk and put partnership and want you to put 24 / 19. What that means is that there's past paper question in 2024 and 2019 are very similar. So, we'll practice either one or both of them. guess yeah, I'll hold on off on LLCs because it came big last year and we did it yesterday. So, I'm not rushing to do LLCs today. Put budgets for me. And really would like to to to to do to do absorption costing because again, it says the syllabus provides no details as to what to teach on the topic except the cost items and the same between markup and cost plus pricing, which is very simple. So, anyhow, Yeah, won't be going over stuff like ethics and duty of an accountant and that kind of stuff and software packages. You can Google that. Like said, we'll be taking items. But, again, remember we saw people couple days ago that was like lot of theory, lot of writing sentences. So, yeah. All right, folks, we're going to put pin in it there. Quick review of the student questions. Who's that? am Eric. And that's we do any past paper questions. We're not going through like like theory and example. So, any past paper question will be the example. Right? That's what's going to happen there. All right, Google Meet, ladies and gents, I'll log it off there for little hour. will endeavor to start back on time. If don't, I'll notify you. Right? but yeah, I'm out. Okay. YouTube Yum yum 4929, agree. No past paper prediction. Of course, stock valuation here, control accounts errors. Let's make sure we got that. Infuse doubles is good business plan. Infuse doubles with what, boy? Are you talking about marijuana? That was my tweet the other day.