Scribd Logo
Upload

Welcome to Scribd!

  • See Cross References

    Uploaded by

    ScribdTranslations
    1 views1 page
    The document explains the cross-references between the journal and the general ledger. In the journal, the REF column indicates the general ledger folio where each account is recorded. In the general ledger, references such as 2/1 indicate the folio and journal entry number where the transaction was recorded. This allows information to be linked between books to maintain consistency of accounting records.

    Original Description:

    The document explains the cross-references between the journal and the general ledger. In the journal, the REF column indicates the general ledger folio where each account is recorded. In the general ledger, references such as 2/1 indicate the folio and journal entry number where the transaction was recorded. This allows information to be linked between books to maintain consistency of accounting records.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document explains the cross-references between the journal and the general ledger. In the journal, the REF column indicates the general ledger folio where each account is recorded. In the general ledger, references such as 2/1 indicate the folio and journal entry number where the transaction was recorded. This allows information to be linked between books to maintain consistency of accounting records.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    1 views1 page

    See Cross References

    Uploaded by

    ScribdTranslations
    The document explains the cross-references between the journal and the general ledger. In the journal, the REF column indicates the general ledger folio where each account is recorded. In the general ledger, references such as 2/1 indicate the folio and journal entry number where the transaction was recorded. This allows information to be linked between books to maintain consistency of accounting records.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    EXPLANATION OF CROSS REFERENCES, BETWEEN THE DAY BOOK AND THE GLOBAL BOOK

    In the previous graph, you can see the daily ledger and the general ledger, with their cross
    references.

    In the journal you can see the REF column. It presents the numbers 1, 4, 2, 3; These numbers
    represent the ledger pages where the accounts are recorded.
    Example, purchases of merchandise are recorded on folio 1 of the general ledger.
    Tax credit is recorded on folio 4 of the general ledger.
    Accounts payable is recorded on folio 2 of the general ledger
    Notes payable is recorded on folio 3 of the general ledger.

    Likewise, references 2/1 and 2/2 are observed in the ledger.


    The 2 represents the journal folio and the 1 means the number of the accounting entry where the
    transaction is recorded. For example, 32,000.oo, this is the value of the purchase of merchandise
    recorded in folio 2, entry number 1 of the journal.
    The reference 2/2 means folio 2 of the journal and entry number 2.

    You might also like