Presentation is loading. Please wait.

Presentation is loading. Please wait.

Book of First Entry, Ledger and Trial Balance Question

Published byAdele Rodgers Modified over 6 years ago

Similar presentations

Presentation on theme: "Book of First Entry, Ledger and Trial Balance Question"— Presentation transcript:

1 Book of First Entry, Ledger and Trial Balance Question
2011 Question 1 Paper 2 Click here for summary of Double Entry Rules

2 Books of first entry Sales Day Book Sales Return Day Book Purchases Day Book Purchases Returns Book General Journal Post day books and cash book entries to the General ledger, Debtors ledger & creditors ledger. The general journal is a book of first entry, It is not part of double-entry bookkeeping system. So each entry in the general journal is entered in the appropriate ledger a/c on the same side as in the general journal.

3

4

5 Get balances from the ledger Accounts, keep dr balances on dr side, and cr balances on credit side.

Download ppt "Book of First Entry, Ledger and Trial Balance Question"

Similar presentations

Summary so far……..  SPECIAL JOURNALS  Special journals  classify and summarise data from source documents.  The use of special journals  allows.

Summary so far……..  SPECIAL JOURNALS  Special journals  classify and summarise data from source documents.  The use of special journals  allows.
Errors and the Trial Balance The Suspense Account

Errors and the Trial Balance The Suspense Account
Double Entry Bookkeeping Training at Globalnest Solutions.

Double Entry Bookkeeping Training at Globalnest Solutions.
Debit and credit balances guidelines Debit balance Cash account Purchases account Returns in Fixed asset accounts Expenses accounts Drawing accounts Debtor’s.

Debit and credit balances guidelines Debit balance Cash account Purchases account Returns in Fixed asset accounts Expenses accounts Drawing accounts Debtor’s.
DOUBLE ENTRY BOOKKEEPING. It refers to the dual aspects of recording financial transactions. This implies that every transaction is recorded twice, in.

DOUBLE ENTRY BOOKKEEPING. It refers to the dual aspects of recording financial transactions. This implies that every transaction is recorded twice, in.
Chapter 15 Purchases day book and purchases ledger

Chapter 15 Purchases day book and purchases ledger
Copyright  2004 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting for Business – A non-accountant’s guide 2/e by Jopling, Lucas and Norton Slides prepared.

Copyright  2004 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting for Business – A non-accountant’s guide 2/e by Jopling, Lucas and Norton Slides prepared.
Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 11.1 Chapter 11 Books of original.

Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 11.1 Chapter 11 Books of original.
Financial Accounting 1 Lecture – 26 Recap With the increase in business, it becomes difficult to maintain separate accounts for every Debtor and every.

Financial Accounting 1 Lecture – 26 Recap With the increase in business, it becomes difficult to maintain separate accounts for every Debtor and every.
Why Record Transactions? To have a systematic recording of transaction  analyze  report to users Items that goes to Balance Sheet (Asset, Liability &

Why Record Transactions? To have a systematic recording of transaction  analyze  report to users Items that goes to Balance Sheet (Asset, Liability &
LEDGER The main function of a ledger is to classify or sort out all items appearing in the journal under their appropriate accounts. At the end of the.

LEDGER The main function of a ledger is to classify or sort out all items appearing in the journal under their appropriate accounts. At the end of the.
Double Entry System 3 DR CR.

Double Entry System 3 DR CR.
Accounting Entry Flow LAI Siu Tim Timmy Timothy In-service Course of Teacher Training (Technical) 1999-2000.

Accounting Entry Flow LAI Siu Tim Timmy Timothy In-service Course of Teacher Training (Technical)
AAT Level 3 Accounts Preparation.

AAT Level 3 Accounts Preparation.
AC120 lecture 36 Errors in books of account Correction of errors Use of suspense accounts Source: Thomas, chapter 18.

AC120 lecture 36 Errors in books of account Correction of errors Use of suspense accounts Source: Thomas, chapter 18.
© Hodder Education 2008 Errors. © Hodder Education 2008 Introduction Two types of error can be made by the book-keeper: 1.Errors which do not affect the.

© Hodder Education 2008 Errors. © Hodder Education 2008 Introduction Two types of error can be made by the book-keeper: 1.Errors which do not affect the.
Double Entry System 2 DRCR. An Overview… General Journal Special Journals Ledger Accounts Trial Balance Prepare Simple Financial Statements Adjustments.

Double Entry System 2 DRCR. An Overview… General Journal Special Journals Ledger Accounts Trial Balance Prepare Simple Financial Statements Adjustments.
Correction of Errors 1Purpose of a Trial Balance A trial balance is prepared to test the __________ of the book keeping. As every transaction recorded.

Correction of Errors 1Purpose of a Trial Balance A trial balance is prepared to test the __________ of the book keeping. As every transaction recorded.
PPTs to accompany Accounting and Bookkeeping Principles and Practice by AAT & David Willis  2011 McGraw-Hill Australia Pty Ltd CHAPTER 5 Postings to ledger.

PPTs to accompany Accounting and Bookkeeping Principles and Practice by AAT & David Willis  2011 McGraw-Hill Australia Pty Ltd CHAPTER 5 Postings to ledger.
MILLIONAIRE SCOREBOARD $100 $200 $300 $500 $1,000 $2,000 $4,000 $8,000 $16,000 $32,000 $64,000 $125,000 $250,000 $500,000 $1 MILLION Click the $ for.

MILLIONAIRE SCOREBOARD $100 $200 $300 $500 $1,000 $2,000 $4,000 $8,000 $16,000 $32,000 $64,000 $125,000 $250,000 $500,000 $1 MILLION Click the $ for.

Similar presentations

Ads by Google