Books Of Prime Entry
Resumen
Imagine posting every single credit sale straight into the ledger. A busy shop with hundreds of sales a day would bury its sales account under endless entries. Books of prime entry solve this. They are the books where a transaction is recorded first, before it ever reaches the ledger. They group similar transactions together, strip detail out of the ledger, and let the book-keeping be shared among several people. Every transaction begins its life in one of these books.
In this lesson you will meet all seven books of prime entry, learn which document fills each one and which ledger each one posts to, and practise writing up the cash book, the journals and the petty cash book. You will master trade and cash discount, the dual role of the cash book as both a book of prime entry and a ledger account, and the imprest system that keeps petty cash under control. These are the everyday mechanics of real book-keeping.
Objetivos
- how to process accounting data in the books of prime entry: cash book, petty cash book, sales journal, purchases journal, sales returns journal, purchases returns journal and the general journal.
- how to post the ledger entries from the books of prime entry.
- trade discount and cash discount and how these are treated.
- the dual function of the cash book as a book of prime entry and as a ledger account for bank and cash.
- how to record receipts and payments made by cash, cheques, debit and credit cards, online and bank transfers.
- the purpose of the imprest system of petty cash.
- how to apply the imprest system.
- the benefits and limitations of keeping cash at the business property.
- the benefits and limitations of using manual methods for the original entry of business transactions.
- the benefits and limitations of using digital methods for the original entry of business transactions.
Leccion en audio
Escucha esta leccion en la app
Mapa mental
Este tema esta esquematizado para ver como se conectan las ideas.
Abre el mapa mental en la app
Tarjetas
Practica rapida de memoria sobre lo que se evalua en este tema.
Practica estas tarjetas en la app
Nota de la lección
Apunte completo disponible en la aplicacion Green Bridge
Instala la aplicacion Green Bridge CBT en tu movil u ordenador para acceder a toda la biblioteca IGCSE: examenes anteriores, criterios de correccion, mapas mentales, tarjetas de estudio y lecciones en audio.
Evaluación de la lección
Felicitaciones por completar la lección del Books Of Prime Entry. Ahora que has explorado el conceptos e ideas clave, es hora de poner a prueba tus conocimientos. Esta sección ofrece una variedad de prácticas Preguntas diseñadas para reforzar su comprensión y ayudarle a evaluar su comprensión del material.
Te encontrarás con una variedad de tipos de preguntas, incluyendo preguntas de opción múltiple, preguntas de respuesta corta y preguntas de ensayo. Cada pregunta está cuidadosamente diseñada para evaluar diferentes aspectos de tu conocimiento y habilidades de pensamiento crítico.
Utiliza esta sección de evaluación como una oportunidad para reforzar tu comprensión del tema e identificar cualquier área en la que puedas necesitar un estudio adicional. No te desanimes por los desafíos que encuentres; en su lugar, míralos como oportunidades para el crecimiento y la mejora.
- Which of the following is NOT a book of prime entry? A. Sales journal B. Cash book C. Trial balance D. General journal Answer: C
- Credit purchases are first recorded in the: A. Purchases ledger B. Purchases journal C. Cash book D. Nominal ledger Answer: B
- At the end of the month the total of the sales journal is posted to the: A. Debit of the sales account B. Credit of the sales account C. Debit of each customer's account D. Credit of the bank account Answer: B
- A customer owing $500 pays by cheque after deducting 2% cash discount. The amount of the cheque is: A. $500 B. $510 C. $490 D. $480 Answer: C
- Under the imprest system, the float is $150 and $90 was spent during the month. The amount reimbursed to restore the float is: A. $60 B. $90 C. $150 D. $240 Answer: B
Resuelve estas preguntas en la aplicacion
Resuelve estas preguntas en la aplicacion
Libros Recomendados
Para seguir aprendiendo, recursos abiertos
-
Sección del libro
Analyze and Journalize Transactions Using Special Journals
"Principles of Accounting, Volume 1: Financial Accounting: Analyze and Journalize Transactions Using Special Journals" by OpenStax, OpenStax, Rice University, licensed under CC BY-NC-SA 4.0 (https://creativecommons.org/licenses/by-nc-sa/4.0/). Source: https://openstax.org/books/principles-financial-accounting/pages/7-3-analyze-and-journalize-transactions-using-special-journals. Access for free at https://openstax.org/books/principles-financial-accounting/pages/1-introduction
-
Sección del libro
Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries
"Principles of Accounting, Volume 1: Financial Accounting: Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries" by OpenStax, OpenStax, Rice University, licensed under CC BY-NC-SA 4.0 (https://creativecommons.org/licenses/by-nc-sa/4.0/). Source: https://openstax.org/books/principles-financial-accounting/pages/8-4-define-the-purpose-and-use-of-a-petty-cash-fund-and-prepare-petty-cash-journal-entries. Access for free at https://openstax.org/books/principles-financial-accounting/pages/1-introduction
Publicados por otras organizaciones con licencias abiertas y citados como piden. Los enlaces abren sus sitios.
Practica preguntas simuladas
¿Quieres practicar preguntas simuladas sobre Books Of Prime Entry? Descarga la aplicación Green Bridge CBT para acceder a preguntas simuladas y evaluaciones completas sobre este tema.
Descarga la aplicación en Google Playstore.
Todo lo que necesitas para destacar en JAMB, WAEC y NECO.
