What is Journal Proper? Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

entries which cannot be entered
transactions which cannot be entered in
the cash flow in the purchase table the
sales table purchase returned sales
return they would ultimately find their
place in the journal proper journal
proper is the journal just as we had
discussed before with the day
particulars ledger folio amount and
amount first when we understood how a
journal is prepared that format that is
the format of the journal proper what
kind of entries are passed through the
journal proper like I said entries which
cannot be entered in the cash book
purchased a book sales table purchase
returned sales rep yes receivable and
bills p.m. sometimes bills receivable
indisputable books are not maintained
and therefore those entries would be
recorded in the journal proper some of
the entries are one is opening entrance
what is an opening entry well when the
ledger accounts are closed at the end of
the year all to income and expense
accounts are completely closed by
transfer no profit and losses however
assets and liabilities there are
balances and these are carried forward
to the next year so usually opening it
is an opening entry consisting of all
assets all the assets are comes are
debited individual nature account debit
visionary account debit cash account
liquid bank account ability track on
dividends interest to liabilities so
assets account name it through Oh
liabilities all the opening balances of
liabilities to capital to capital so
that is an opening entry this entry
cannot really be fast indeed but credit
purchase or sale sale in the purchased a
book or the sales table etc that is
in the journal proper it is recorded in
that Journal
similarly we have closing in three what
are closing increase expense and income
accounts like I said are closed by
transfer to the profit and loss occur so
we have profit and loss account debit to
range to salaries to all other expenses
similarly incomes are taken to the
credit side of the profit and loss
account or sales is taken to the credit
side of the trading work piece we will
understand in detail when we discuss
final accounts but we have certain
closing entries and since they cannot be
recorded in any of the other books they
are also recorded in the journal proper
next rectification of errors sometimes
when we make mistakes like we had said
before that wages paid for construction
of machinery was debited to wages
account instead of machinery account so
we've made a mistake now we have to
rectify this error by saying wages
account debit to machining
such a transaction wages account debit
to machinery we cannot record in any of
the other subsidiary books so that would
be recorded in the in the journal proper
adjustment entries at the year-end
usually there are some adjusting entries
like the entries for outstanding expense
prepaid expense depreciation and central
all these are called adjustment entries
outstanding expense prepaid expense
accrual income income and in advance
appreciation these are some examples of
adjustment entries which are made
through the journal proper other
miscellaneous entries may be if we have
a credit purchase of machinery credit
purchase of machinery can we put it in
the purchased a book no why because it
is a credit purchase of machine not
purchase of goods not very purchase of
goods so this such an in such a
transaction would be recorded in the
journal prompt bad that recovered will
not come in this book if cash has been
recovered however if there is a bad debt
what is the entry for a bad debt by dead
David true data so I think bank that
recovered you take it to cash book bag
deaths but that to data cannot come in
the cash book cannot come in their
purchase book cannot come in the sales
book this would go to the journal so
these are some of the examples of
entries which could go to the journal so
cash book all cash and bank transactions
in cash book all credit purchase of
goods the purchased a book called credit
sales of goods in the sales table credit
to return purchase returned in the
purchase returned journal say as a
return in the same sort on journal if
there is bills payable and bills
receivable many many bills payable many
transactions with those payable and
receivable such books we also be kept by
the owner all other remaining entries
will find their place in the journal
problem