Difference between revisions of "General Journal"

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|June 30
 
|June 30
 
|Stationery
 
|Stationery
| style="text-align:right;" | 1,000
+
| style="text-align:right;" | 1,100
 
|
 
|
 
|-
 
|-
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|June 30
 
|June 30
 
|Stationery
 
|Stationery
| style="text-align:right;" | 1,000
+
| style="text-align:right;" | 1,100
 
|
 
|
 
|-
 
|-
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|June 30
 
|June 30
 
|Stationery
 
|Stationery
| style="text-align:right;" | 1,000
+
| style="text-align:right;" | 1,100
 
|
 
|
 
|-
 
|-
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|}
 
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====Examples: Registered for GST====
 
====Examples: Registered for GST====
 +
1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
 +
 +
{| class="wikitable" style="width: 50%;"
 +
!colspan="4"|General Journal Example (Simple)
 +
|-
 +
|'''Date'''
 +
|'''Account'''
 +
|'''Debit'''
 +
|'''Credit'''
 +
|-
 +
|June 30
 +
|Stationery
 +
| style="text-align:right;" | 1,100
 +
|
 +
|-
 +
|
 +
| style="text-align:center;" | Cash At Bank
 +
|
 +
| style="text-align:right;" | 1,100
 +
|-
 +
|
 +
|For the purchase of a really nice stapler
 +
|
 +
|
 +
|}
 +
<br>
 +
2. Shopping trip to The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)
 +
{| class="wikitable" style="width: 50%;"
 +
!colspan="4"|General Journal Example (Less Simple)
 +
|-
 +
|'''Date'''
 +
|'''Account'''
 +
|'''Debit'''
 +
|'''Credit'''
 +
|-
 +
|June 30
 +
|Stationery
 +
| style="text-align:right;" | 1,100
 +
|
 +
|-
 +
|
 +
|Staff Amenities
 +
| style="text-align:right;" | 200
 +
|
 +
|-
 +
|
 +
|GST Payable
 +
| style="text-align:right;" | 100
 +
|
 +
|-
 +
|
 +
| style="text-align:center;" | Cash At Bank
 +
|
 +
| style="text-align:right;" | 1,300
 +
|-
 +
|
 +
|For the purchase of a really nice stapler and water
 +
|
 +
|
 +
|}
 +
<br>
 +
3. Shopping trip to <br>The Office Depot - Purchased a stapler and some sugar for the staff room (cash/eftpos)<br>The Techno Junkies - Purchased a new cable (on account)
 +
{| class="wikitable" style="width: 50%;"
 +
!colspan="4"|General Journal Example (Less Simple)
 +
|-
 +
|'''Date'''
 +
|'''Account'''
 +
|'''Debit'''
 +
|'''Credit'''
 +
|-
 +
|June 30
 +
|Stationery
 +
| style="text-align:right;" | 1,100
 +
|
 +
|-
 +
|
 +
|Staff Amenities
 +
| style="text-align:right;" | 200
 +
|
 +
|-
 +
|
 +
| style="text-align:center;" | Cash At Bank
 +
|
 +
| style="text-align:right;" | 1,300
 +
|-
 +
|
 +
|For the purchase of a really nice stapler and water
 +
|
 +
|
 +
|-
 +
|June 30
 +
|Computer Expense
 +
| style="text-align:right;" | 400
 +
|
 +
|-
 +
|
 +
|style="text-align:center;" | Accounts Payable
 +
|
 +
| style="text-align:right;" | 400
 +
|-
 +
|
 +
|New computer cable
 +
|
 +
|
 +
|}

Revision as of 05:57, 15 November 2018

General Journal - All the financial transactions are recorded in chronological order where each transaction affects at least two accounts, and they must balance

Note: each entry must only contain one single transaction (source document)

Examples: Not Registered for GST

1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)

General Journal Example (Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Cash At Bank 1,000
For the purchase of a really nice stapler


2. Shopping trip to The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)

General Journal Example (Less Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Staff Amenities 200
Cash At Bank 1,200
For the purchase of a really nice stapler and water


3. Shopping trip to
The Office Depot - Purchased a stapler and some sugar for the staff room (cash/eftpos)
The Techno Junkies - Purchased a new cable (on account)

General Journal Example (Less Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Staff Amenities 200
Cash At Bank 1,200
For the purchase of a really nice stapler and water
June 30 Computer Expense 400
Accounts Payable 400
New computer cable

Examples: Registered for GST

1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)

General Journal Example (Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Cash At Bank 1,100
For the purchase of a really nice stapler


2. Shopping trip to The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)

General Journal Example (Less Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Staff Amenities 200
GST Payable 100
Cash At Bank 1,300
For the purchase of a really nice stapler and water


3. Shopping trip to
The Office Depot - Purchased a stapler and some sugar for the staff room (cash/eftpos)
The Techno Junkies - Purchased a new cable (on account)

General Journal Example (Less Simple)
Date Account Debit Credit
June 30 Stationery 1,100
Staff Amenities 200
Cash At Bank 1,300
For the purchase of a really nice stapler and water
June 30 Computer Expense 400
Accounts Payable 400
New computer cable