Lesson Notes By Weeks and Term - Senior Secondary 1

Term: 1^st Term

Week: 4

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Financial accounting

Topic:-       Double entry principle I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Define double entry of book keeping
2. Write the meaning of Dr and Cr and explain each

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION	TEACHER’S ACTIVITY	STUDENT’S ACTIVITY
STEP 1 INTRODUCTION	The teacher reviews the previous lesson on books of account	Students pay attention
STEP 2 EXPLANATION	She defines double entry book keeping	Students pay attention and participates
STEP 3 DEMONSTRATION	She discusses the meaning of Dr and Cr transactions	Students pay attention and participate
STEP 4 NOTE TAKING	The teacher writes a summarized note on the board	The students copy the note in their books

 

NOTE

DOUBLE ENTRY BOOK KEEPING

Double entry system of book keeping simply means that every debit entry

must have a corresponding credit entry and vice versa. To keep the double

entry rule in book keeping, all entries on the debit side of one account must

be matched with a corresponding credit entry in another account. This

implies that every transaction must be debited in one account and at the

same time credited in another account. 

 

The following simple rules of double entry should be fully understood and

memorized.

1. for every credited entry in an account there must be a corresponding

debit entry in another account.

      2. For every debit entry in an account, there must be a corresponding

credit entry in another account.

      3. All transactions must be recorded in two accounts, one account is

debited and another account credited.

APPLICATION OF THE PRINCIPLES OF DOUBLE ENTRY

1. Any transaction involves two accounts.
2. Receiving account or receiver.
3. Giving account or giver.
4. Dr. Receiving account     =  With value it receives
5. Cr. Giving account      =     With value it gives out.

Illustration: Complete the following table. Account to be.

		Debited	Credited
i.	Start business with N800 cash	Cash	Capital
ii.	Goods sold on credit to Mr. Ayo	Ayo	Sales
iii.	We paid creditor Mr. Olu by cheque	Mr. Olu	Bank
iv.	Goods bought by cheque	Purchases	Bank
v.	Sold goods for cash	Cash	Sales
vi.	Goods were returned to Mr. Kufor	Kufor	Returns Outwards
vii.	Biodun lent us N80 cash	Cash	Loan (Biodun)
viii.	Took N20 of the cash and paid into the bank	Bank	Cash
ix.	Bought a motor van by cheque	Motor van	Bank
x.	Goods were returned to Olotu	Olotu	Returns Outwards
xi.	Paid further cash into the business as capital	Cash	Capital

 

EVALUATION:    1. Define double entry

2. What are simple rules to be observed when carrying out a double entry?
3. Write the meaning of Dr and Cr

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively