Grade 10 Basics of Financial statements

1.Select where you would find sales

• Income statement

• Trading account

• Statement of financial position

• operating expenses

2.Select where you would find drawings

• Balance sheet

• Note 7: Capital

• Note 8: Trade and other payables

• Note 5: Trade and other receivables

Select where you would find bad debts

• Income statement under operating expenses

• Statement of financial position

• Income statement under operating income

• expenses

Select where you will write consumable stores on hand

• Note 4 : Inventory

• operating expenses

• operating profit

• liabilities

Mortgage loan

• Balance sheet: current asset

• Balance sheet: non - current asset

• Balance sheet :non - current liabilities

• Balance sheet :current liabilities

Select the first 3 lines of an income statement

• Sales

  debtors allowance

  gross profit

• cost of sales

  gross profit

  Sales

• Sales

  cost of sales

  gross profit

Select all operating income

• sales

• interest income

• Rent income

• Bad debts recovered

select where you will find Net profit

• Income statement and note 7: Capital

• Income statement and note 9: Trade payable s

• Income statement

• Statement of financial position

Select where you will find Vehicles , accumulated depreciation , depreciation

• Note 3 Tangible assets / fixed assets

• Note 8: Trade and other payables

• Note 1: Interest income

• Note 6: Trade and other receivables

Which item does not go in note 5: Trade and other receivables

• net debtors

• provision for bad debts

• bank

• prepaid expense