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Accounting 103 - The Special Journals & Subsidiary Ledgers
Rating: 4.4 out of 5(50 ratings)
2,733 students

Accounting 103 - The Special Journals & Subsidiary Ledgers

Learn to post to the Special Journals, The Subsidiary Ledgers, The Cash Book, & The Bank Book
Created byShakir Elahi
Last updated 5/2018
English
English [Auto],

What you'll learn

  • Students will be able to identify The Special Journals
  • Students will be able to post Journal Entries within the Special Journals
  • Students will be able to post to the Cash Book
  • Students will be able to post to the Bank Book

Course content

2 sections • 13 lectures • 1h 9m total length

  • Introduction2:56

    Explore special journals and subsidiary ledgers for daily transactions in enterprises, including sales and purchases journals, cash book, and bank book, to support the income statement and balance sheet.

  • What are The Special Ledgers?3:24

    Explore the purpose of special journals and subsidiary ledgers, including the five types: sales, sales return, purchase, purchase return, and cashbook, and how they produce closing balances for income statements.

  • Classifying Entries Into The Special Journals4:22

    Classify each September 2006 transaction into the sales journal or purchase journal, then build the sales journal and prepare subsidiary ledgers.

  • The Sales Journal3:48

    Prepare the sales journal for September 2006 by recording credit sales on the debit side and excluding cash sales, then total the debit entries for the month-end figure.

  • Accounts Receivable Subsidiary Ledgers4:34

    Demonstrate building accounts receivable subsidiary ledgers from the sales journal by trader, posting dates, invoice numbers, debits, credits, and running balances.

  • The Purchase Journal3:04

    Compile the September 2006 purchase journal by aggregating purchase entries on the debit side and totaling the credit side at month-end; do not include cash entries.

  • Accounts Payable Subsidiary Ledgers2:42

    Create and balance the accounts payable subsidiary ledgers for Zak's International and Tom Brothers, recording September purchases and maintaining running balances linked to the purchase and sales journal.

  • The Sales Journal & The Sales Return Journal4:56

    Create the sales journal and the sales return journal for March 2018, detailing sales, returns, and the credit note entries, with a view toward subsidiary ledgers in later lectures.

  • Subsidiary Ledgers Sales & Sales Return7:37

    Identify the number of customer accounts to create six subsidiary ledgers for Emma's perfect furnishings. Record sales and sales returns in accounts receivable subsidiary ledgers with balances and invoice numbers.

  • The Purchase Journal & The Purchase Return Journal5:32

    Identify and classify March entries into the purchase journal and purchase return journal, record debit notes and totals, and begin preparing subsidiary ledgers for supplier accounts.

  • Subsidiary Ledgers Purchase & Purchase Return5:49

    Create subsidiary ledgers for accounts payable by tracking purchases and purchase returns from multiple suppliers. Update balances and determine March closing balances across vendors.

  • The Cash Book & The Bank Book17:54

    Explore how to prepare the cash book and bank book, record receipts and payments, and carry forward balances using Falcon enterprises' March 2018 transactions.

Requirements

  • You should be able to use the computer at a basic level
  • Accounting 101 - The Principles Of Accounting
  • Accounting 102 - The Ledger & The Trial Balance

Description

This course "Accounting 103 - The Special Journals & Subsidiary Ledgers" is Part 3 out of a series of courses that are designed to help the complete beginner (someone who has no knowledge of accounting) master the basics of accounting and move on step by step to becoming a professional accountant!   

The course is not just theory but takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment.    

This is a slow moving course. Please do not expect me to move fast since it is designed for the beginner student. Those students who are already aware of accounting concepts should take a more advanced level course instead.   

In this course we are going to learn:   

  • What are the Special Journals?   

  • How to post to the Special Journals?   

  • Posting To The Sales Journal   

  • Posting To The Sales Return Journal   

  • Posting To The Purchase Journal   

  • Posting To The Purchase Return Journal   

  • Creating the Subsidiary Ledgers   

  • Posting To The Cash Book   

  • Posting To The Bank Book   

  • Get Awesome Practice in the process   

Having completed the entire series students of the proper age would be able to take up entry level jobs as Book Keepers and/or Accountants, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.

Who this course is for:

  • Anyone looking to learn Accounting as a beginner
  • Beginners Only... This is a slow paced course that teaches students who have no previous education in accounting principles.

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