Assistant Statistical Officer Paper II · 4 Financial Accounting · APPSC Paper I

4.2 Journal, ledger and subsidiary books notes

2 notes, in reading order.

  1. 4.2.1Journal and ledger: journalising, posting and balancing accounts

    Every transaction is first written date by date in the journal (debit one account, credit another for the same amount), then posted to each account in the ledger, where accounts are balanced to show what is owned, owed, earned or spent.

    Advanced · 10 min · Full course
  2. 4.2.2Subsidiary books: cash book (single, double, triple column, petty cash), purchases, sales, returns and bills books

    Instead of one journal, a business keeps subsidiary books for repeated kinds of transactions (cash, credit purchases, credit sales, returns, bills); only their totals and personal items are posted to the ledger, and whatever fits none of them goes to the journal proper.

    Advanced · 10 min · Full course

Practise Journal, ledger and subsidiary books. Questions with answers explained, from the same topics.

Practise in the app Financial Accounting questions

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