Week 7 Special Journal, Subsidiary&Control Accts - Week 7 Special Journal Subsidiary\/Control Accts Friday 19 April 2013 8:58 PM Worksheet

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

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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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  • Accounting, Post Ref, special journal

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