Chapter 3: The General Journal

Question 1

What are the steps to recording subsidiary journals

Answer 1

(1) Record transactions on source documents
(2) Enter information in accounting records
(3) Then post the transaction to the journals
(4) Then post to the general ledger

Question 2

Name the different subsidiary journals that fall under cash transactions

Answer 2

Cash receipt journal
Cash payments general
Petty cash journal

Question 3

Name the different subsidiary journals that fall under credit transactions

Answer 3

Debtors journal
Creditors journal
Debtors allowance channel
Creditors allowance journal 

Question 4

What journal falls under sundry transactions

Answer 4

General journal

Question 5

What is the format of the general journal

Answer 5

Heading
Reference number
Date of transaction
Name or account codes to be debited and credited
Amounts to be debited and credited
Journal narration