SUBSIDIARY BOOKS : LSUS
FINANCIAL ACCOUNTING SSS1 FIRST TERM
WEEK 9 & 10
SUBSIDIARY BOOKS
Performance Objectives
Students should be able to:
- What are books of prime entry?
- List eight uses of the General Journal.
Contents
NOTES
Subsidiary books are the books of prime entry (or books of original entry) into which transactions are first recorded in detail before they are posted in totals into the Ledger.
Businesses use subsidiary books to record goods sold on credit, goods purchased on credit, sales returns, purchases returns etc. The subsidiary books are basically listing devices, which means that a lot of detail is removed from the ledger. It also means that bookkeeping can be divided between several people. The name book of the original (or prime) entry has arisen because all transactions should be recorded in one of.... View More
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- Chapters 7
- Category SSS1
- Author ClassNotes Edu
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