Đang chuẩn bị nút TẢI XUỐNG, xin hãy chờ
Tải xuống
Appendices G - Subsidiary ledgers and special journals. After studying this chapter, you should be able to: Describe the nature and purpose of a subsidiary ledger, record transactions in special journals, indicate how companies post a multi-column journal. | G SUBSIDIARY LEDGERS AND SPECIAL JOURNALS Accounting, Fifth Edition After studying this chapter, you should be able to: Describe the nature and purpose of a subsidiary ledger. Explain how special journals are used in journalizing. Indicate how a multi-column journal is posted. Learning Objectives Used to keep track of individual balances. Two common subsidiary ledgers are: Accounts receivable (customers’) Accounts payable (creditors’) Expanding the Ledger - Subsidiary Ledgers LO 1 Describe the nature and purpose of a subsidiary ledger. Each general ledger control account balance must equal the composite balance of the individual accounts in the related subsidiary ledger. Expanding the Ledger - Subsidiary Ledgers LO 1 Describe the nature and purpose of a subsidiary ledger. Illustration G-1 Relationship of general ledger and subsidiary ledgers Illustration G-2 Subsidiary Ledgers LO 1 Example 1. Show transactions affecting one customer or one single account. 2. Free the general ledger of excessive details. 3. Help locate errors in individual accounts. 4. Make possible a division of labor. Subsidiary Ledgers LO 1 Describe the nature and purpose of a subsidiary ledger. Advantages of Subsidiary Ledgers Expanding the Journal - Special Journals LO 2 Explain how special journals are used in journalizing. Used to record similar types of transactions. If a transaction cannot be recorded in a special journal, the company records it in the general journal. Illustration G-4 Each of the following is a subsidiary ledger except the: accounts receivable ledger. accounts payable ledger. customer’s ledger. general ledger. Review Question Special Journals LO 2 Explain how special journals are used in journalizing. Sales Journals LO 2 Illustration G-5 Perpetual inventory system - one entry at selling price in Sales Journal results in a debit to Accounts Receivable and a credit to Sales. Another entry at cost results in a debit to Cost of Goods Sold and a credit to Merchandise Inventory. | G SUBSIDIARY LEDGERS AND SPECIAL JOURNALS Accounting, Fifth Edition After studying this chapter, you should be able to: Describe the nature and purpose of a subsidiary ledger. Explain how special journals are used in journalizing. Indicate how a multi-column journal is posted. Learning Objectives Used to keep track of individual balances. Two common subsidiary ledgers are: Accounts receivable (customers’) Accounts payable (creditors’) Expanding the Ledger - Subsidiary Ledgers LO 1 Describe the nature and purpose of a subsidiary ledger. Each general ledger control account balance must equal the composite balance of the individual accounts in the related subsidiary ledger. Expanding the Ledger - Subsidiary Ledgers LO 1 Describe the nature and purpose of a subsidiary ledger. Illustration G-1 Relationship of general ledger and subsidiary ledgers Illustration G-2 Subsidiary Ledgers LO 1 Example 1. Show transactions affecting one customer or one single account. 2. Free the general ledger of
