|
The Journal
-the journal is the accounting book wherein the business transactions are recorded for the first time ; it is also called the book of original entry. Advantages of the Journal -a complete record of transactions is provide in one place. -a chronological order of transactions and events is provided in one book -the explanation given to each entry in the journal permits the omission of repetitive explanation in the ledger -the use of the journal affords an easy check on the proper implementation of the rules of debit and credit -the journal facilitates the discovery of errors The Ledger -since transactions are recorded in the journal according to their dates of occurrence, items of similar nature are not grouped together. Information in the general journal is spread amount various transactions recorded. The transaction recorded in the journal are group into one account. A group of accounts constitute a ledger. Relationship between the journal and the ledger -information in the journal is grouped according to transactions while in the ledger, by accounts -information recorded in the ledger always comes from the journal -the journal is a book of original entry while the ledger is a book of final entry the two records are cross-referenced to each other by the use of the folio columns What is posting? -It is the process of transferring to the ledger the same information recorded in the journal. Debit entries in the journal are transferred to the debit side of the pertinent account in the ledger and credit entries in the journal are transferred to the credit side of the proper account in the ledger.
0 Comments
Leave a Reply. |
Author. Archives
February 2019
Categories |
RSS Feed
Copyright Notice
Copyright © – 2020, All Rights Reserved.
Disclaimer
This project primarily designed to assist students of law and accounting in their studies. It is merely a tool. The use of our Services does not guarantee success in obtaining a law/accounting degree nor in passing the Bar/Board Exams. We makes no warranties or representations of any kind, whether expressed or implied for the Services provided.
The cases, laws, and other publications found in this site are of public domain, collected from public sources such as the Supreme Court online library. The content however have been heavily modified, formatted, and optimized for better user experience, and are no longer perfect copies of their original. We gives no warranty for the accuracy or the completeness of the materials. We also reserves the right to further improve, add, modify, or remove content with or without prior announcements.
This site also contains materials published by the students, professors, lawyers, and other users of the our Services. These materials are owned by such users and of their sole responsibility. While we may review user-published content, please do not assume that content you are accessing has been reviewed or curated. You may report abusive content through the listed contact details.
We does not guarantee against any loss or damage caused by third persons, delays, interruptions, unavailability, or by the termination of its Services.
We reserves the right to amend the terms and policies for its Services.
Terms of Service
By using our Services, you are agreeing to these terms. Please read them carefully.
Access our Services only through the interface and instructions provided. Do not misuse the Services, or use them in such ways that may interfere their availability, or in ways that may cause discredit to you, your school, or your profession.
These terms do not give you ownership of any intellectual property rights to the content you access on our Services. Do not use content from our Services other than for personal purposes unless you obtain permission from its owner or are otherwise permitted by law. Do not remove, obscure, or alter any legal notices and attributions displayed in or along with our Services.
We may send you service announcements, administrative messages, and other information. You may opt out of some of those communications.
Our Services are designed to be accessible on mobile devices. Do not use such Services in a way that distracts you and prevents you from obeying traffic or safety laws.
We may suspend or stop providing our Services to you if you do not comply with these terms and policies or if we are investigating suspected misconduct.
Privacy
Some services require you to login or register with minimal personal information this site.
Collected Information
Collected information includes user name, email address, Facebook ID and photo. The user may also optionally provide school, year level, BAR year, profession, office, address, and other information which may assist in improving our Services.
Uses of the Information
The collected information will only be used in connection with the use or for the improvement of our Services.
Users Created Content
Content created by users are published and shared for public use. Published content is always attributed to the author through his user account. A user may remain anonymous by changing his "display name" under his profile.
Data Analytics
We conducts data analytics for the improvement of the usability and design of our Services and the user experience. These may include but not limited to tracking time spent on the site, services availed, number of contents created or shared.
Content
Our Services allow you to create casebooks, digests, outlines, notes, and other content. You retain ownership of intellectual property rights that you hold in that content.
When you create content through our Services, you give us (and those we work with) a worldwide license to use, host, store, reproduce, modify, create derivative works, communicate, publish, publicly perform, publicly display and distribute such content. This license continues even if you stop using our Services (for example: your list of cases, digests, and outlines in your casebooks).
Make sure you have the necessary rights to grant us this license for any content that you submit to our Services.
We reserves the right to review your published content and may remove materials that are offensive, abusive, of no value, or not in line with the purpose of our Services. The amount of content or materials that you publish may be limited by us.
We also used cookies in our website.
Contact Us
Copyright © – 2020, All Rights Reserved.
Disclaimer
This project primarily designed to assist students of law and accounting in their studies. It is merely a tool. The use of our Services does not guarantee success in obtaining a law/accounting degree nor in passing the Bar/Board Exams. We makes no warranties or representations of any kind, whether expressed or implied for the Services provided.
The cases, laws, and other publications found in this site are of public domain, collected from public sources such as the Supreme Court online library. The content however have been heavily modified, formatted, and optimized for better user experience, and are no longer perfect copies of their original. We gives no warranty for the accuracy or the completeness of the materials. We also reserves the right to further improve, add, modify, or remove content with or without prior announcements.
This site also contains materials published by the students, professors, lawyers, and other users of the our Services. These materials are owned by such users and of their sole responsibility. While we may review user-published content, please do not assume that content you are accessing has been reviewed or curated. You may report abusive content through the listed contact details.
We does not guarantee against any loss or damage caused by third persons, delays, interruptions, unavailability, or by the termination of its Services.
We reserves the right to amend the terms and policies for its Services.
Terms of Service
By using our Services, you are agreeing to these terms. Please read them carefully.
Access our Services only through the interface and instructions provided. Do not misuse the Services, or use them in such ways that may interfere their availability, or in ways that may cause discredit to you, your school, or your profession.
These terms do not give you ownership of any intellectual property rights to the content you access on our Services. Do not use content from our Services other than for personal purposes unless you obtain permission from its owner or are otherwise permitted by law. Do not remove, obscure, or alter any legal notices and attributions displayed in or along with our Services.
We may send you service announcements, administrative messages, and other information. You may opt out of some of those communications.
Our Services are designed to be accessible on mobile devices. Do not use such Services in a way that distracts you and prevents you from obeying traffic or safety laws.
We may suspend or stop providing our Services to you if you do not comply with these terms and policies or if we are investigating suspected misconduct.
Privacy
Some services require you to login or register with minimal personal information this site.
Collected Information
Collected information includes user name, email address, Facebook ID and photo. The user may also optionally provide school, year level, BAR year, profession, office, address, and other information which may assist in improving our Services.
Uses of the Information
The collected information will only be used in connection with the use or for the improvement of our Services.
Users Created Content
Content created by users are published and shared for public use. Published content is always attributed to the author through his user account. A user may remain anonymous by changing his "display name" under his profile.
Data Analytics
We conducts data analytics for the improvement of the usability and design of our Services and the user experience. These may include but not limited to tracking time spent on the site, services availed, number of contents created or shared.
Content
Our Services allow you to create casebooks, digests, outlines, notes, and other content. You retain ownership of intellectual property rights that you hold in that content.
When you create content through our Services, you give us (and those we work with) a worldwide license to use, host, store, reproduce, modify, create derivative works, communicate, publish, publicly perform, publicly display and distribute such content. This license continues even if you stop using our Services (for example: your list of cases, digests, and outlines in your casebooks).
Make sure you have the necessary rights to grant us this license for any content that you submit to our Services.
We reserves the right to review your published content and may remove materials that are offensive, abusive, of no value, or not in line with the purpose of our Services. The amount of content or materials that you publish may be limited by us.
We also used cookies in our website.
Contact Us