Difference between revisions of "General Journal"

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(Examples: Registered for GST)
 
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General Journal - All the financial transactions are recorded in chronological order where each transaction affects at least two accounts, and they must balance
 
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)
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'''Note:''' each entry must only contain one single transaction ([[source document]])
  
====Examples: Not Registered for GST====
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====Examples: Not Registered for [[GST]]====
  
 
1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
 
1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
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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)
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3. Shopping trip to <br>The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)<br>The Techno Junkies - Purchased a new cable (on account)
 
{| class="wikitable" style="width: 50%;"
 
{| class="wikitable" style="width: 50%;"
 
!colspan="4"|General Journal Example (Less Simple)
 
!colspan="4"|General Journal Example (Less Simple)
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====Examples: Registered for GST==== ''' <span style="color: red"> In Progress'''<br>
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====Examples: Registered for [[GST]]====
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1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
 
1. Shopping trip to The Office Depot - Purchased a stapler (cash/eftpos)
  
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|GST Payable
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|GST (Paid)
 
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|GST Payable
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|GST (Paid)
 
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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)
+
3. Shopping trip to <br>The Office Depot - Purchased a stapler and some water for the staff room (cash/eftpos)<br>The Techno Junkies - Purchased a new cable (on account)
 
{| class="wikitable" style="width: 50%;"
 
{| class="wikitable" style="width: 50%;"
 
!colspan="4"|General Journal Example (Less Simple)
 
!colspan="4"|General Journal Example (Less Simple)
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|GST Payable
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|GST (Paid)
 
| style="text-align:right;" | 100
 
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|GST Payable
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|GST (Paid)
 
| style="text-align:right;" | 40
 
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Latest revision as of 04:20, 22 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 1,100
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
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 water 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 440
Accounts Payable 440
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 1,000
GST (Paid) 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 1,000
Staff Amenities 200
GST (Paid) 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 water 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 1,000
Staff Amenities 200
GST (Paid) 100
Cash At Bank 1,300
For the purchase of a really nice stapler and water
June 30 Computer Expense 400
GST (Paid) 40
Accounts Payable 440
New computer cable