Doing homework can often be a boring and monotonous task. Still, it is mandatory to do. In such a situation, one must seek interesting ways to write homework answers such as journal proper or general journal homework answers to make this activity an interesting one. On a personal note, searching on the web for such ways can prove helpful to a great extent. Seeking help of various homework completion help services may be of help as well.
Homework: A mandatory exercise
If you want to make the task of doing your homework interesting, the first and the foremost step to follow is to go through the concept on which your homework is based thoroughly. Learning the concept of your homework answers is of crude importance. It helps you in a way that you don’t have to turn the pages of your textbook or a website repeatedly while you are writing a homework answer.
The common exercise of turning the pages of a textbook or crawling on webpages leads you to lose the speed of homework completion and ruins the entire structure of your homework answers too. This necessitates having a clear understanding of the whole concept.
For instance, in the homework answers such as journal proper or general journal homework answers, you have to first understand the concept on which the answers will be based, say journal proper here. Journal proper may be defined as a type of book that is used to make all the entries that are otherwise not to be included in subsidiary book.
Formatting a proper structure for your homework
The second step that comes in this list is to format a proper structure for your homework answer before you begin to write that answer. By formatting a structure, we mean enlisting and sequencing the various subheads that you’re going to include in your answer.
For instance, for a question that asks you about the common types of journals in answers such as journal proper or general journal homework answers, making a sequenced list of subheadings such as enlisting the various types of journal proper entries followed by the definition and examples of each can be supposed to be a proper format.
Journal proper holds accounts of other types of entries
Certain types of entries that cannot be recorded or noted in a subsidiary are recorded in a journal proper. Such type of entries may include accounts such as the rent unpaid, investments in machinery, furniture, etc. To be more precise, in business terms, such entries have proper categorical names such as opening entries, closing entries, transfer entries, rectification entries, adjustment entries, compound entries and casual entries.
One needs to have a deep knowledge of each of the above-mentioned categories in order to produce an impeccable assignment bearing answers such as journal proper or general journal homework answers. We will discuss briefly about each of the categories. To get more details, one can try subscription of various homework help services that are available online.
Know the opening and closing type of journal entries
The opening and closing entries are the two types of journal entries that are recorded in a journal proper. Of all the types of entries in a journal proper, these hold par importance because of the time they are to be made.
When one opens a business, an entry that encompasses all the money transactions regarding the assets of the company, including furniture, machinery, available stocks in trade as well as cash in the hands of the businessman, is made. This one is what one calls an opening entry. When the books are to be balanced at the end of the specified accounting period, the entry made to paper final accounts and balanced them thereafter is known as a closing entry.
When the final accounts are papered, to balance them, the balances of income and expenses accounts are transferred to trading and profit, and loss accounts, a process called closing of the books, and thereby the corresponding entries named the closing entries. One may look out for various authentic services available online with an aim to help students with their homework assignments.
Detailed knowledge of rectification and adjustment entries is important
While you write homework answers such as journal proper or general journal homework answers, you need to consider rectification and adjustment entries also, that are no less important than opening and closing ones. Whenever an entry of a transaction is made, it undergoes a process called adjustment trial balance.
The entries that are made thereafter are known to be adjustment entries, which are made before final accounts are prepared. In general, such entries are concerned with adjustments that are to be made in relation to interest, outstanding, depreciation, etc.
You will also get to know a lot about rectification entries, which appear to be more or less the same as adjustment entries but are entirely different. Such entries are done to correct any errors that might have been made while recording any sort of transactions in the journal proper. Time to make such entries in the company’s journal proper arrives when the financial year ends.
Details of compound and casual entries
Another significant type of entry to be considered while maintaining a journal proper are the compound entries, which are done to make transaction records more clear and accurate. Casual entries, however, are made to record transactions that have rare occurrences throughout the financial year.
One must go through all of the concepts in his management course carefully as a better understanding of the concepts is what makes a good businessman in the long run. A better understanding of concept is also necessary to write answers such as journal proper or general journal homework answers and score good marks in your academic session.