Week 7 Special Journal, Subsidiary&Control Accts - Week 7...

Multi-column worksheet (see week 5) •
Trial Balance ○
Adjustments ○
Adjusted Trial Balance ○
IS ○
BS ○
10 columns, i.e. 5 sets of twin columns (dr & cr) •
Follows the accounting cycle •
Worksheet
Sales/purchase returns ○
Purchase of equipment ○
Credit transactions (other than inventory) ○
Adjusting entries ○
Closing entries
○
Used for record uncommon/periodical transactions •
General journals
Records most common transactions •
Allows for classification and summarisation within all journals •
Increases efficiency - only have to post totals to general journal •
Used in conjunction with subsidiary ledgers •
From Perdisco: 
Date Account Invoice No Post Ref Accts Receivable Cost of Sale
Sales journal (credit sales of inventory) ○
From Perdisco: 
Date Account Terms Post Ref Accounts Payable
Purchases journal (credit purchases of inventory) ○
From Perdisco: 
Debit Credit
Date Account Post Ref Cash (bank) Discount Allowed Sales Revenue Accounts Receivable