Download ABM FABM12-IIa-b-1

Accounting Books - Journal and ledger
Differentiate the journal from the general ledger
(ABM_FABM12-IIa-b-1)
What is journal?
Picture
1
General Journal
Date
Account Title and Explanation Post Reference
(PR)
Page No._________
Debit
Credit
A book of accounts where transactions/events are
chronologically recorded by dates. It is known as book
of original entry because transactions are initially
recorded in the journal. It contains page number, date,
account title and explanation, post reference, debit and
credit.
What is journal?
Picture
1
General Journal
Date
Account Title and Explanation Post Reference
(PR)
Special journals
Cash Receipts Journal
Cash Disbursements Journal
Sales Journal
Purchase Journal
Page No._________
Debit
Credit
What is ledger?
Account Name:__________________
Picture
2
Date
Explanation
Account Code:______________
Journal Reference
(JR)
Debit
Credit
Balance
Debit
Credit
What is ledger?
A book of accounts where accounts are grouped per
title/name . It is known as book of final entry. It contains
account name, account code, date, explanation, journal
reference, debit, credit, debit balance and credit
balance.
Account Name:__________________
Picture
2
Date
Explanation
Account Code:______________
Journal Reference
(JR)
Debit
Credit
Balance
Debit
Credit
What is ledger?
A general ledger is often called a T-Account because of
its resemblance to the letter T. A T-Account is a
simplified form of general ledger.
Account Name:__________________
Picture
2
Date
Explanation
Account Code:______________
Journal Reference
(JR)
Debit
Credit
Balance
Debit
Credit
What is ledger?
ACCOUNT TITLE (Ex. Cash)
Left Side or
Debit Side
Right Side or
Credit Side
Account Name:__________________
Picture
2
Date
Explanation
Account Code:______________
Journal Reference
(JR)
Debit
Credit
Balance
Debit
Credit
Journal 1. It is the book of original entry
Journal 2. It is a chronological record of events
or transactions showing all the effects of each
transaction in terms of debit and credit
Ledger 3. It is the book of final entry
Ledger 4. It is a group of accounts used by the
company.
Ledger 5. It is chronologically arranged by
account.
Journal
Ledger
chronological
arrangement of content
by date
by account name
other term
book of original entry
book of final entry
content
page number, date,
account title and
explanation, post
reference, debit and
credit
account name,
account code, date,
explanation, journal
reference, debit,
credit, debit balance
and credit balance