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SingaporeAccounting

Books of Prime Entry and Ledgers

5 dot points across 5 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

Which source document supports each transaction, and why must every entry start from one?

Identify the source documents for common transactions and explain their role in the accounting process
A focused answer to the O-Level Principles of Accounts outcome on source documents. The invoice, credit note, receipt, cheque counterfoil and others, and how each begins the recording process in the books of prime entry.
7 min answer →

How does the cash book serve as both a book of prime entry and a ledger account, and how do discount columns work?

Prepare a two-column and three-column cash book, including cash discounts and contra entries
A focused answer to the O-Level Principles of Accounts outcome on the cash book. The two-column and three-column cash book, cash discounts allowed and received, contra entries, and posting the discount totals.
9 min answer →

What does the general journal record, and how is the ledger divided into the sales, purchases and general ledgers?

Use the general journal for non-routine entries and explain the division of the ledger
A focused answer to the O-Level Principles of Accounts outcome on the general journal and the ledger system. Journal entries with narratives, the uses of the journal, and the division into sales, purchases and general ledgers.
8 min answer →

How does the imprest system control small cash payments, and how is the petty cash book restored each period?

Prepare a petty cash book using the imprest system, with analysis columns, and post the totals
A focused answer to the O-Level Principles of Accounts outcome on petty cash. The imprest system, analysis columns, restoring the float, and posting the column totals to the expense accounts.
8 min answer →

How do the sales, purchases and returns journals group credit transactions before they reach the ledger?

Prepare the sales, purchases and returns journals and post their totals to the ledger
A focused answer to the O-Level Principles of Accounts outcome on the day books. Recording credit sales, purchases and returns in the journals, and posting the individual entries and period totals to the ledgers.
8 min answer →