chapter8会计英语.pptVIP

Chapter 8 Ledgers and Journals Outline of Chapter 8 Ledgers Journals Special Journals 8.1 Ledgers The basic summary device of accounting is the account. Each account appears on its own page. For convenient access to the information in the accounts, the pages are grouped together in a single book called the ledger. 8.1 Ledgers There are two types of ledgers: general ledger and subsidiary ledger. The general ledger can tell us the general information of each account, but we can not learn the detailed information from it. The subsidiary ledger is a book or file of accounts that provides supporting details on individual balances, the total of which appears in the general ledger. The general ledger is also called control account. It controls the subsidiary ledger. Total of the ending balances of all subsidiary accounts equal the ending balance of the control account. 8.2 Journals The journal described so far is used to record all types of transactions. After recorded, they must be posted to debit and credit columns of various accounts. The way to save writing and posting labor is to divide the transactions into groups of like nature and to record them respectively in special journals. The four categories of transactions, the related special journal and the posting abbreviations follow. 8.3 Special Journals 8.3.1 Sales Journal Most merchandisers sell at least some of their inventory on account. These credit sales are recorded in the sales journal, also called the credit sales journal. Credit sales of assets other than inventory (for example, buildings) occur infrequently and are recorded in the general journal. Example: see textbook 8.3 Special Journals 8.3.2 Cash Receipts Journal Cash transactions are common in most businesses because cash receipts from cus-tomers are the lifeblood of business. To streamline the recording of repetitive cash receipt transactions, accountants use the cash receipts journal. Example: see textbook 8.3 S