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Difference between a general journal and a specialized journal?
Wiki User
∙ 12y ago
A general journal is uesd to record infrequent or nonroutine transactions, such as lan payments and end-of-period adjusting and closing entries.
A specialized journal records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursements.
Wiki User
∙ 12y ago
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What is the difference between a stock journal and manufacture journal?
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Describe a business situation that would not require a specialized journal?
A small retail store that primarily deals with cash transactions and simple inventory tracking may not require a specialized journal. In this case, a general journal to record daily transactions and a ledger to track accounts would suffice without the need for specialized journals like a sales journal or purchases journal.
Difference between journal journal proper?
A journal is a chronological record of financial transactions, organized by date. Journal proper refers to the book of original entry where miscellaneous transactions that do not fit in any other specialized journal are recorded. In essence, the journal proper is a catch-all journal for transactions that do not have a specific journal category.
What is the difference between blog and journal?
The major difference is : Blogs are online diaries but journal is a daily record of events or business; a private journal is usually referred to as a diary.
What was the general conclusion of the pain study conducted by the Journal of Advanced Nursing?
Objective assessments of each patient's pain showed little difference between the perceived severities for each group.
What is the popular or general journal called in English?
What is a popular or general journal called in English
When was The Journal of General Physiology created?
The Journal of General Physiology was created in 1918.
When was Journal of General Virology created?
Journal of General Virology was created in 1967.
What is another name for the general journal in accounting?
the information is entered in the general journal, which is called the book of original entry.
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
What is the difference between journal and transaction?
A journal is the same thing as a diary or a log of events. A transaction typically refers to the buying and selling of goods.
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
