西方财务会计10

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1、单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,2024/9/30,1,Chapter 4,SPECIAL JOURNALS,2024/9/30,2,Reasons for using special journals,If each transaction was recorded in the general journal and then posting to the general ledger,thats time-consuming and wasteful.,The special journal will reduce detail

2、 recording.,Reduces the posting working.,Have a better division of labor.,2024/9/30,3,USE OF SPECIAL JOURNALS AND THE GENERAL JOURNAL,Sales,Journal,(S),Cash Receipts,Journal,(CR),Purchases Journal,(P),Cash Payments,Journal,(CD),General,Journal,(J),Used for:,All sales of,merchandise,on account,Used f

3、or:,All cash,received,(including,cash sales,),Used for:,All purchases,of merchandise,on account,Used for:,All cash paid,(including,cash,purchases,),Used for:,Transactions,that cannot,be entered,in a special,journal,including,correcting,adjusting,and closing entries,The types of special journals used

4、 depend largely on the types of transactions that occur frequently in a business enterprise.,2024/9/30,4,General journal,In addition to four special journals,a general journal(J)is used for recording transactions that not fit into four special journals.,It is also used to record adjusting and closin

5、g entries.,2024/9/30,5,Sales journal,Only,sales on account,are recorded in the sales journal.,Cash sales,are recorded in the cash receipts journal.,2024/9/30,6,The procedure to record the sales journal,Record the sales on credit day by day in the sales journal.,At the end of the month,add the amount

6、 and post to the general ledger(Dr:Accounts receivable;Cr:Sales),Place a posting ref.(account number),In the general ledger,place the source of the entry in each account.,2024/9/30,7,Date,Account Debited,PR,Amount,Feb.1,2,12,24,A.Anderson,B.Butler,C.Chase,D.Davis,$400,700,250,800,$2,150,(12)(41),Sal

7、es Journal,Accounts Rec,Sales,Feb.28 S-1$2,150,12,Feb.28 S-1$2,150,41,1,3,4,S-1,2,Example 1 p102,2024/9/30,8,Sales returns,If lots of transactions occur in which customers return goods,we can use the sales returns journal as the special journal.,Otherwise the general journal is sufficient.,Date,Acco

8、unt Credited,PR,Amount,Jan.5,10,Lawton Co.,Paton,$1 600,400,$2 000,(12)(42),Sales Returns Journal,2024/9/30,9,SUBSIDIARY LEDGERS,A group of accounts,With a common characteristic such as accounts receivable is assembled,Facilitates the recording process freeing the general ledger from details concern

9、ing individual balances,Two common subsidiary ledgers,Accounts Receivable Ledger,Accounts Payable Ledger,2024/9/30,10,Advantages of subsidiary(special)ledgers,Reduces ledger detail.,Permits better division of labor.,Permits a different sequence of accounts,Permits better internal control.,2024/9/30,

10、11,SUBSIDIARY LEDGERS,Advantages,1,Shows transactions affecting one customer or one creditor in a single account,2,Frees the general ledger of excessive details,3,Helps locate errors in individual accounts,4,Reduces the number of accounts in one ledger and by using control accounts,5,Division of lab

11、or in posting,One employee posts to the general ledger,Another employee posts to the subsidiary ledger,2024/9/30,12,CONTROL ACCOUNT,Control account,General Ledger account which summarizes subsidiary ledger data,Subsidiary Ledger,general ledger control account balance equals the composite balance of

12、the individual accounts in the,subsidiary ledger,2024/9/30,13,Accounts receivable ledger,In order to be capable of supplying information concerning the businesss accounts receivable,a firm needs a separate account for each customer.,These customers accounts are grouped together in a subsidiary ledge

13、r,accounts receivable ledger.,2024/9/30,14,Accounts receivable ledger,Each time the accounts receivable(control account)is increased or decreased,a customers account in the accounts receivable ledger must also be increased or decreased by the same amount.,They are usually kept in alphabetical order.

14、,2024/9/30,15,The procedure for posting to special(subsidiary)ledger,After the sale is entered,the amount of the sale is immediately posted as a debit to the customers account in the subsidiary accounts receivable ledger.,In the sales journal,place a check mark(,)in the post reference column.,2024/9

15、/30,16,Date,Account Debited,PR,Amount,Feb.1,2,12,24,A.Anderson,B.Butler,C.Chase,D.Davis,$400,700,250,800,$2,150,(12)(41),Sales Journal,Feb 1 S-1$400,A.Anderson,Feb 3 S-1$700,B.Butler,Feb.12 S-1$250,C.Chase,Feb 24 S-1$800,D.Davis,Feb 28 S-1$2,150,Accounts Receivable 12,Sales 41,Feb 28 S-1$2,150,S-1,2

16、024/9/30,17,The checking procedure for accuracy of posting,At the end of the month,the bookkeeper prepares a list of all open accounts,schedule of accounts receivable,.,The total amount from the schedule should agree with the balance in the control account of accounts receivable.,2024/9/30,18,A Anderson,B.Butler,C.Chase,D.Davis,S400,700,250,800,$2,150,Schedule of Accounts Receivable,February 28 199X,Feb 28 S-1$2,150,Accounts Receivable 12,2024/9/30,19,Types of ledger account forms,The T account