TAILIEUCHUNG - Lecture Accounting (6th edition): Chapter App J - Kimmel, Weygandt, Kieso

Chapter App J - Subsidiary ledgers and special journals. After completing this unit, you should be able to: Describe the nature and purpose of a subsidiary ledger, record transactions in special journals. | Subsidiary Ledgers and Special Journals Kimmel ● Weygandt ● Kieso Accounting, Sixth Edition J Record transactions in special journals. APPENDIX OUTLINE Describe the nature and purpose of a subsidiary ledger. 1 2 LEARNING OBJECTIVES Used to keep track of individual balances. Two common subsidiary ledgers are: Accounts receivable (customers’) Accounts payable (creditors’) Each general ledger control account balance must equal the composite balance of the individual accounts in the related subsidiary ledger. LO 1 LEARNING OBJECTIVE Describe the nature and purpose of a subsidiary ledger. 1 ILLUSTRATION J-1 Relationship of general ledger and subsidiary ledgers Subsidiary Ledger Example SUBSIDIARY LEDGERS LO 1 LO 1 SUBSIDIARY LEDGER EXAMPLE ILLUSTRATION J-3 Relationship between general and subsidiary ledgers 1. Show in a single account transactions affecting one customer or one creditor. 2. Free the general ledger of excessive details. 3. Help locate errors in individual accounts. 4. Make possible a division of labor. ADVANTAGES OF SUBSIDIARY LEDGERS LO 1 SUBSIDIARY LEDGERS 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 J-4 Use of special journals and the general journal LO 2 LEARNING OBJECTIVE Record transactions in special journals. 2 Each of the following is a subsidiary ledger except the: accounts receivable ledger. accounts payable ledger. customers’ ledger. general ledger. Question Special Journals LO 2 Under a 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 Inventory. SALES JOURNAL Journalizing Credit Sales LO 2 ILLUSTRATION J-5 Journalizing the sales journal—perpetual inventory system Companies make daily postings from the sales journal to the individual accounts receivable in the .

• Kế toán - Kiểm toán
• Lecture Accounting
• Financial statements
• Business organization
• Accounting information
• Subsidiary ledgers
• Special journals
• Financial accounting
• Lecture Financial accounting
• Management accounting
• Accounting standards
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Merchandising operations
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions