The document summarizes what the totals from journals tell you about a general ledger. It explains that:
1) The Bank columns show money coming into and leaving the business bank account, with increases as credits and decreases as debits.
2) The other columns show what money was paid for or received, such as sales, costs, creditors, and sundry accounts.
3) Each of these columns represents an account that will be found in the general ledger.
The document summarizes what the totals from journals tell you about a general ledger. It explains that:
1) The Bank columns show money coming into and leaving the business bank account, with increases as credits and decreases as debits.
2) The other columns show what money was paid for or received, such as sales, costs, creditors, and sundry accounts.
3) Each of these columns represents an account that will be found in the general ledger.
The document summarizes what the totals from journals tell you about a general ledger. It explains that:
1) The Bank columns show money coming into and leaving the business bank account, with increases as credits and decreases as debits.
2) The other columns show what money was paid for or received, such as sales, costs, creditors, and sundry accounts.
3) Each of these columns represents an account that will be found in the general ledger.
The document summarizes what the totals from journals tell you about a general ledger. It explains that:
1) The Bank columns show money coming into and leaving the business bank account, with increases as credits and decreases as debits.
2) The other columns show what money was paid for or received, such as sales, costs, creditors, and sundry accounts.
3) Each of these columns represents an account that will be found in the general ledger.
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GENERAL LEDGER
WHAT THE TOTALS FROM THE
JOURNALS TELL YOU Remember that the Bank columns in the CRJ and CPJ are telling you how much money has come into and left your bank account The other columns are telling you what you paid for or receive the money for These all have their own General Ledger WHAT THE TOTALS FROM THE JOURNALS TELL YOU Doc Day Details Fol Analysis Bank Sales Cost of Debtors Sundry accounts of sales control receipts Amount Fol Details 7 2 000 Rent income 10 000 5 000 2 500 3 000 2 000
Sundry is for all the
Total amount that The amount other reason we came into the The amount received from would receive business’ bank received because of Debtors money account Sales Decreases our Incomes increase = Bank increases = Increases our sales debtors = credit credit debit = credit CASH PAYMENTS Doc Day Details Fol Bank Tradin Equipmen Creditors Sundry accounts g stock t control Amount Fol Details 7 2 000 Rent expense 8 000 1 000 1 000 4 000 2 000
The amount paid to The amount paid to Sundry is for all the Total amount that The amount paid towards Equipment repay Creditors other reason we left the business’ towards Trading Increases our Decreases our pay money bank account stock equipment = debit creditors = debit Expenses increase Bank decreases = Increases our = debit debit trading stock = debit EACH COLUMN IS AN ACCOUNT YOU WILL FIND IN THE GENERAL LEDGER Date Day Details Fol Amount Date Day Details Fol Amount
Date Day Details Fol Amount Date Day Details Fol Amount
Date Day Details Fol Amount Date Day Details Fol Amount
