Republic of the Philippines

Laguna State Polytechnic University

ISO 9001:2015 Certified
Province of Laguna
Level I Institutionally Accredited

LSPU Self-paced Learning Module (SLM)

Course Fundamentals of Accounting 1 & 2
Sem/AY First Semester/2021-2022
Module No. 4
Lesson Title Special Journals
Week
2 Weeks
Duration
Date Jan 31-Feb 11, 2022
Description This lesson will discuss the limitations of using the general journal and the general
of the ledger, the use of controlling accounts and subsidiary ledgers and explain the goals and
Lesson uses using the special journals

Recording transactions using the special journals, posting to the general ledgers and
subsidiary ledgers are introduced, including the use of the voucher system of
accounting.

Learning Outcomes
Intended Students should be able to meet the following intended learning outcomes:
Learning  Understand the importance of using the special journals
Outcomes  Discover that posting to the ledger is much easier if transactions are taken from
the special journals
 Know the difference between the general ledgers/controlling accounts and the
subsidiary ledgers and when posting should be done.
Targets/ At the end of the lesson, students should be able to:
Objectives  Know why the use of the general journal has limitations
 Learn how to record transactions in the special journals
 Know the steps in posting transactions from the special journals to the general
ledgers and subsidiary ledgers.
 Prepare the schedules of Accounts Receivable and Accounts payable
 Distinguish the features of the voucher system of accounting.

Student Learning Strategies

Online Activities A. Online Discussion via Google Meet

LSPU SELF-PACED LEARNING MODULE: FUNDAMENTALS OF ACCOUNTING 1 & 2

Prepared by: MA. ALYN S. KARAGDAG, CPA
 Republic of the Philippines
Laguna State Polytechnic University
ISO 9001:2015 Certified
Province of Laguna
Level I Institutionally Accredited

(Synchronous/
Asynchronous) B. Learning Guide Questions:
1. What are the five special journals.
2. Where to record cash sales and sales on account.
3. Where to record cash purchases and purchases on account.
4. What is the purpose of the subsidiary ledgers
5. When are posting done and how to post to the controlling accounts
6. What is the voucher system of accounting

Note: The insight that you will post on online discussion forum using Learning Management
System (LMS) will receive additional scores in class participation.

Offline Activities
(e-Learning/Self- Lecture Guide
(Refer to the textbook: Chapter 9-Special Journals and the Voucher System)
Paced)
The Special Journals

Sales Journal – Journal of the original entry where sales are recorded. Most
users of the special journals use this for sales on account only in
order to have more control of the cash account.

Purchases Journal – Journal of original entry where purchases are recorded.

Similarly, most users of special journals use this for purchases
made on account only in order to have a better control of cash.

Cash Receipts Journal – Journal of original entry where all cash received are
recorded - cash investment, cash sales, collection of account,
cash loans from creditors.

Cash Disbursements Journal – Journal of original entry where all cash

payments are recorded – cash withdrawal of owner, cash
purchases, cash payment of expenses and payment of accounts/
liabilities.

General Journal – Journal of the original entry which is used only for
transactions that cannot be appropriately recorded in the
first four journals.

GENERAL LEDGERS & SUBSIDIARY LEDGERS

Using the special journals, the posting process is made easier as posting can be
done using the total amounts for the accounts with specific columns in the
journal. Only transactions recorded in the Other Accounts column of the
journal would be posted individually.

As accounts receivable and accounts payable are posted using the total
amounts, a need to set up subsidiary ledgers arises to track receivables and

LSPU SELF-PACED LEARNING MODULE: FUNDAMENTALS OF ACCOUNTING 1 & 2

Prepared by: MA. ALYN S. KARAGDAG, CPA
 Republic of the Philippines
Laguna State Polytechnic University
ISO 9001:2015 Certified
Province of Laguna
Level I Institutionally Accredited
payables. Accounts Receivable Subsidiary Ledgers would include individual
ledgers for on account customers of the business. Accounts Payable Subsidiary
Ledgers, on the other hand would include individual ledgers of the business
creditors.

Posting to the subsidiary ledgers should be done the same date as transactions
are recorded in the journals to update the individual running balances of each
customers/creditors.

The five special journals:

SALES JOURNAL

Date Inv Account Debited Post Ref Accounts

No. Receivable-Debit/Sales Credit
           
           
           
           

           
           

Purchases Journal
Date Account Credited Credits Debits
Accounts Purchases Office Office Other Accounts

LSPU SELF-PACED LEARNING MODULE: FUNDAMENTALS OF ACCOUNTING 1 & 2

Prepared by: MA. ALYN S. KARAGDAG, CPA
 Republic of the Philippines
Laguna State Polytechnic University
ISO 9001:2015 Certified
Province of Laguna
Level I Institutionally Accredited

Payable Supplies Equipment Account Title Amount

                 
                 
                 
                 
                 
                 
                 

Cash Receipts Journal

Debits Credits
Date Description Sales Accounts Other Accounts
Cash Sales
Discounts Receivable Account Title Amount
                 
                 
                 
                 
                 

Cash Disbursements Journal

Credits Debits
Dat Descriptio Purchase Account Other Accounts
Purchase
e n Cash Discount s
s Account Title Amount
s Payable
                 
                 
                 
                 
                 
                 
                 
                 
                 

LSPU SELF-PACED LEARNING MODULE: FUNDAMENTALS OF ACCOUNTING 1 & 2

Prepared by: MA. ALYN S. KARAGDAG, CPA
 Republic of the Philippines
Laguna State Polytechnic University
ISO 9001:2015 Certified
Province of Laguna
Level I Institutionally Accredited

Performance Tasks

PT 1 Various problems taken from the textbook

Understanding Directed Assess

Learning Resources
Accounting Fundamentals by Win Ballada, 2020 Issue – 6th Edition

LSPU SELF-PACED LEARNING MODULE: FUNDAMENTALS OF ACCOUNTING 1 & 2

Prepared by: MA. ALYN S. KARAGDAG, CPA