Source Documents and Books of Original Entry
Students examine various source documents and their role in the accounting cycle. They will learn to record transactions in special journals such as the Sales and Purchases Journals.
About This Topic
Students examine various source documents and their role in the accounting cycle. They will learn to record transactions in special journals such as the Sales and Purchases Journals.
Key Questions
- Why are source documents necessary for recording transactions?
- What is the purpose of books of original entry?
- How do we record credit transactions in special journals?
More in Recording Transactions and the Accounting Cycle
The Cash Book and Petty Cash
Students learn to record cash and bank transactions in a cash book. They will also understand the imprest system for managing petty cash.
2 methodologies
The General Ledger and Trial Balance
This topic covers the posting of journal entries to the general ledger and the balancing of accounts. Students will extract a trial balance to check the arithmetical accuracy of the ledgers.
2 methodologies