General Journal

 

  • Used for recording specific transactions that do not go into the other journals 

  • Source document: General Journal voucher

Accounting Grade 10 (2015)

Accounting Grade 10 (2015)

Recording transactions in the general journal: 

  • Correction of errors: if amount posted incorrectly → first take out of incorrect account and then re-enter into the correct one 

  • If the amount is under or overstated, calculate and adjust with the difference. 

Transactions that will be recorded in the General Journal:

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References

  • Anon., 2007. The Answer series: Grade 11 Accounting. 2007 ed. Cape Town: The Answer.

  • Anon., 2019. Investopedia. [Online]. Available at: https://www.investopedia.com/ [Accessed 3 October 2019].

  • Doctor, K., 2015. FLIPHTML5. [Online]. Available at: http://fliphtml5.com/fkul/mgtf/basic [Accessed 1 October 2019].

  • T Hall, D. W. P. S. A. A. P. G. P. F., 2017. Accounting Study Guide. 2016 ed. Musgrave: New Generation Publishers .

Neha Pillay (2019)

Grade 10Keroshan PillayComment