Accounting, Wednesday, April 11
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Transcript of Accounting, Wednesday, April 11
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
Accounting, Wednesday, April 11
Welcome Back!!
Today we start Chapter 11
Let’s begin by Defining the five terms for
Lesson 11-1, pages 298 – 305
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LESSON 11-1
TERMS REVIEW
subsidiary ledger accounts payable ledger accounts receivable ledger controlling account schedule of accounts payable
page 306
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LESSON 11-1
Posting to an Accounts Payable Ledger
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LESSON 11-1
ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 299
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LESSON 11-1
ACCOUNTS PAYABLE LEDGER FORMS
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page 300
1. Write the vendor name.2. Write the vendor number.3. Write the date.4. Write the word Balance.5. Place a check mark in the Post. Ref.
column.6. Write the balance.
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LESSON 11-1
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LESSON 11-1
POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 301
1. Write the date.2. Write the journal page number.3. Write the credit amount.
4. Write the new account balance.5. Write the vendor number.
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LESSON 11-1
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LESSON 11-1
POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 302
4. Subtract the amount in the Debit column from the previous balance in the Credit column. Write the new balance.
1. Write the date.
5. Write the vendor number.
2. Write the journal page number.
3. Write the debit amount.
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LESSON 11-1
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LESSON 11-1
POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 303
1. Write the date.2. Write the general journal
page number.3. Write the amount.
4. Add the amount in the Credit column to the previous balance in the Credit Balance column. Write the new balance.
5. Write the vendor number.
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LESSON 11-1
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LESSON 11-1
POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 303
1. Write the date.2. Write the general journal
page number.3. Write the amount.
4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new balance.
5. Write the vendor number.
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LESSON 11-1
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LESSON 11-1
COMPLETED ACCOUNTS PAYABLE LEDGER page 304
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LESSON 11-1
PROVING THE ACCOUNTS PAYABLE LEDGER page 305
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LESSON 11-1
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LESSON 11-1
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LESSON 5-1
ASSIGNMENT
Own Your Own 11-1 on Aplia practice / completion grade, pg. 306
Application 11-1: Grade It Now, page 331IMPORTANT HINTS: If the balance is zero, only the vendor name &
number is entered Start with each General Ledger Account and
enter transactions in CHRONOLOGICAL ORDER