Journals, Ledgers, and Cash Books

Increase

Decrease

Increase or decrease

Appreciation

Income tax

Value added tax

National insurance contributions

Pension contributions

Goods purchased on credit that are returned to the original supplier

Stock that customers have returned

Goods purchased on credit

Fixed assets purchased that are unsuitable for business use

All credit and cash sales for that period

All goods and other assets sold

Money received from sale of goods

All assets sold for cash

Stock purchases on credit

Goods bought for resale but not paid for

Credit purchases

Goods bought for resale for cash

Chapter

Register

Page

Paragraph mark

Purchases journal

Sales return journal

General journal

Cash receipts journal

Credit balance

Debit balance

Cash balance

Debit balance

Costs involved in training staff to use system

Increased job satisfaction

Increased accuracy of entries

Time saved through speed of inputs

Transfer of a debit from one credit to another

Return of fixed assets by the firm to the firm originally purchased from

Purchase of machinery for cash doe business use

Sale of vehicle used by the business on credit