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Zorluk: KolayGeneral Journal (Journal Proper) and Opening Entries

A firm acquired new office computers on credit for business operations rather than for resale. In which book of prime entry should this transaction be recorded?

  1. A
    Purchases Journal
  2. General JournalCevap
  3. C
    Cash Book
  4. D
    Sales Journal

Cevap

The transaction should be recorded in the General Journal.
The General Journal (Journal Proper) is used to record non-routine transactions that do not fit into other specialized subsidiary books, such as the purchase or sale of non-current assets on credit, opening/closing entries, and correction of errors.

Adım Adım Çözüm

1
Identify the nature of the asset purchased
Office computers are non-current (fixed) assets used in operations, not inventory held for resale.
The choice of book of prime entry depends on whether the transaction involves cash, resale inventory, or capital items.
2
Determine the mode of acquisition
The purchase was made on credit.
Credit purchases cannot be entered in the Cash Book.
3
Select the appropriate book of original entry
The General Journal (Journal Proper) is designated for credit purchases of non-current assets.
Specialized day books (like the Purchases Journal) only handle goods meant for resale.

Anahtar Kavram

Uses of the General Journal (Journal Proper)
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Konular

General Journal (Journal Proper) and Opening Entries

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