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
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- Three '09
- Accounting, Post Ref, special journal