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  1. General Journal
  2. Classes of Entries
  3. Errors Affecting the Agreement of the Trial Balance
  4. Introduction to Cash Book


General Journal

Meaning and Uses of the General Journal

General journal is designed as an all-purpose book. This means that any business transaction can be conveniently recorded in it. But its entries are usually restricted to records of opening and closing entries of business e.g.

  1. The purchases or the sales of fixed asset on credit
  2. Correction of errors,
  3. Adjustment in account
  4. Purchases of new business
  5. and other transfer

General Journal is also called journal proper, it is also part of the books of original entry in which are recorded the initial entries in chronological order.

Uses of General Journal

The general journal is used for the following:

  1. Opening entries
  2. Closing entries
  3. Correction of errors
  4. Transfer between accounts
  5. Purchases of fixed asset on credit
  6. Sales of fixed assets on credit
  7. To answer questions on double entry


Classes of Entries

Simple Entries

Only two accounts are involved.

Lesson tags: Financial Accounting Lesson Notes, Financial Accounting Objective Questions, SS1 Financial Accounting, SS1 Financial Accounting Evaluation Questions, SS1 Financial Accounting Evaluation Questions First Term, SS1 Financial Accounting First Term, SS1 Financial Accounting Objective Questions, SS1 Financial Accounting Objective Questions First Term
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