CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Posting to An Accounts Payable Ledger.
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 LESSON 12-1 Posting to An Accounts Payable Ledger
Transcript of CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 12-1 Posting to An Accounts Payable Ledger.
CENTURY 21 ACCOUNTING © Thomson/South-Western
LESSON 12-1LESSON 12-1
Posting to An Accounts Payable Ledger
CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 10-1
TERMS REVIEWTERMS REVIEW
Subsidiary ledger A ledger that summarized in a single general ledger account
Accounts payable ledger Subsidiary ledger containing only accounts for vendors from
whom items are purchased or bought on account
Accounts receivable ledger Subsidiary ledger containing only accounts for charge
customers
Controlling Account An account in the general ledger that summarizes all
accounts in a subsidiary ledger
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ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT
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LESSON 11-2
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ACCOUNTS PAYABLE LEDGER AND GENERAL ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNTLEDGER CONTROLLING ACCOUNT page 299
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LESSON 11-2
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ACCOUNTS PAYABLE LEDGER FORMSACCOUNTS PAYABLE LEDGER FORMS
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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 11-2
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POSTING FROM A PURCHASES JOURNAL POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGERTO 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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Audit UnderstandingAudit Understanding
1. What accounts are contained in the accounts payable ledger? Accounts for vendors from whom items are bought on
account
2. What is the relationship between a controlling account and a subsidiary ledger? Balance of controlling account = total of all account
balances in its related subsidiary ledger
3. What is the title of the balance amount column of and accounts payable ledger form? Credit Balance
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LESSON 11-2
CENTURY 21 ACCOUNTING © Thomson/South-Western
LESSON 12-2LESSON 12-2
Posting to An Accounts Payable Ledger
CENTURY 21 ACCOUNTING © Thomson/South-Western
Terms Review and Audit UnderstandingTerms Review and Audit Understanding
Schedule of accounts payable A list of vendor accounts, balances, and total due
1. In which column of the cash payments journal are the amounts that are posted individually to the accounts payable ledger? Accounts Payable debit column
2. What accounts are listed on a schedule of accounts payable? Vendor Accounts
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LESSON 11-2
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LESSON 11-2CENTURY 21 ACCOUNTING © Thomson/South-Western
POSTING FROM A CASH PAYMENTS JOURNAL POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGERTO AN ACCOUNTS PAYABLE LEDGER
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 11-2CENTURY 21 ACCOUNTING © Thomson/South-Western
POSTING A CREDIT ENTRY FROM A GENERAL POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE JOURNAL TO AN ACCOUNTS PAYABLE LEDGERLEDGER
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 11-2CENTURY 21 ACCOUNTING © Thomson/South-Western
POSTING A DEBIT ENTRY FROM A GENERAL POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE JOURNAL TO AN ACCOUNTS PAYABLE LEDGERLEDGER
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 11-2
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COMPLETED ACCOUNTS PAYABLE COMPLETED ACCOUNTS PAYABLE LEDGERLEDGER page 304
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LESSON 11-2
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PROVING THE ACCOUNTS PAYABLE PROVING THE ACCOUNTS PAYABLE LEDGERLEDGER page 305
CENTURY 21 ACCOUNTING © Thomson/South-Western
LESSON 12-3LESSON 12-3
Posting to an Accounts Receivable Ledger
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LESSON 11-2
ACCOUNTS RECEIVABLE LEDGER AND ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNTGENERAL LEDGER CONTROLLING ACCOUNT page 307
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LESSON 11-2
ACCOUNTS RECEIVABLE LEDGER ACCOUNTS RECEIVABLE LEDGER FORMSFORMS page 308
11Customer nameCustomer name 22Customer numberCustomer number
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LESSON 11-2
POSTING FROM A SALES JOURNAL TO AN POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGERACCOUNTS RECEIVABLE LEDGER page 309
4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new account balance.
1. Write the date.
2. Write the sales journal page number.
3. Write the debit amount. 5. Write the customer number.
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Audit Your UnderstandingAudit Your Understanding
1. What accounts are contained in an accounts receivable ledger? Customer Accounts
2. To which accounts are the separate amounts in the sales journal posted individually? Customer accounts list in the account debited
column
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LESSON 11-2
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Lesson 12-4Lesson 12-4
Additional Posting to an Accounts Receivable Ledger
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LESSON 11-2
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TermsTerms
Schedule of Accounts ReceivableListing of customer accounts,
balances, and total amount due
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LESSON 11-2
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LESSON 11-2
POSTING FROM A CASH RECEIPTS JOURNAL POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGERTO AN ACCOUNTS RECEIVABLE LEDGER page 310
4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance.
2. Write the cash receipts journal page number.
5. Write the customer number.
3. Write the credit amount.
1. Write the date.
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LESSON 11-2
1. Write the date.
POSTING A CREDIT ENTRY FROM A GENERAL POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS RECEIVABLE JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGERLEDGER page 311
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2. Write the general journal page number.
3. Write the amount.
4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance.
5. Write the customer number.
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LESSON 11-2
COMPLETED ACCOUNTS RECEIVABLE COMPLETED ACCOUNTS RECEIVABLE LEDGERLEDGER page 312
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LESSON 11-2
PROVING THE ACCOUNTS RECEIVABLE PROVING THE ACCOUNTS RECEIVABLE LEDGERLEDGER page 313
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LESSON 11-2
Audit Understanding 12-4Audit Understanding 12-4
1. In which column of the cash receipts journal are the amounts that are posted individually to the accounts receivable ledger? Accounts Receivable Credit Column
2. What accounts are listed on a schedule of accounts receivable?1. All customers accounts that have balances
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LESSON 12-5LESSON 12-5
Posting from Journals to a General Ledger
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LESSON 11-2
STARTING A NEW PAGE FOR AN STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL LEDGERACCOUNT IN A GENERAL LEDGER
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1. Write the account title.
2. Write the account number.
3. Write the date.
4. Write the word Balance in the Item column.
5. Place a check mark in the Post. Ref. column.
6. Write the balance.
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LESSON 11-2
POSTING FROM THE GENERAL AMOUNT POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH PAYMENTS JOURNAL TO COLUMNS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGERA GENERAL LEDGER page 316
4. Add the amount in the Debit column to the previous balance in the Balance Debit column. Write the new balance.
5. Write the general ledger account number.
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2. Write the journal page number.
3. Write the debit amount. 44
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LESSON 11-2
5. Write the general ledger account number.
POSTING A DEBIT ENTRY FROM A GENERAL POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGERJOURNAL TO A GENERAL LEDGER page 317
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1. Write the date.
2. Write the general journal page number.
3. Write the amount.
4. Calculate and write the new account balance.
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LESSON 11-2
5. Write the general ledger account number.
POSTING A CREDIT ENTRY FROM A GENERAL POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGERJOURNAL TO A GENERAL LEDGER page 318
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1. Write the date.
2. Write the general journal page number.
3. Write the amount.
4. Calculate and write the new account balance.
CENTURY 21 ACCOUNTING © Thomson/South-Western
Audit Understanding 12-5Audit Understanding 12-5
1. Which amounts in a general journal are posted individually? Amounts in the Debit and Credit columns
2. List the five steps for posting to a general ledger account. write the date, write the journal page in the post ref column
of the account, write the amount in the debit or credit column of the account, calculate and write the new account balance in the balance debit or balance credit column, write the general ledger account number in the post ref column on the general journal.
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LESSON 11-2
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LESSON 12-6LESSON 12-6
Posting Totals to a General Ledger
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LESSON 11-2
5. In the sales journal, write the general ledger account number.
POSTING TOTALS OF A SALES JOURNAL POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGERTO A GENERAL LEDGER page 320
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4. For each account, calculate and write the new account balance.
1. Write the date.
2. Write the sales journal page number.
3. For each column and account, write the column total.
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LESSON 11-2
1. Write the date.
POSTING THE TOTAL OF A PURCHASES POSTING THE TOTAL OF A PURCHASES JOURNAL TO A GENERAL LEDGERJOURNAL TO A GENERAL LEDGER page 321
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2. Write the purchases journal page number.
3. For each account, write the purchases journal column total.
4. For each account, calculate and write the new balance.
5. Write the purchases general ledger account number and the accounts payable general ledger account number.22
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LESSON 11-2
POSTING SPECIAL AMOUNT COLUMN TOTALS POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH RECEIPTS JOURNAL TO A GENERAL OF A CASH RECEIPTS JOURNAL TO A GENERAL LEDGERLEDGER page 322
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1. Date
2. Journal page number
3. Column total
4. Account balance
5. Account number
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LESSON 11-2
POSTING SPECIAL AMOUNT COLUMN TOTALS POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH PAYMENTS JOURNAL TO A GENERAL OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGERLEDGER page 324
1. Date
2. Journal page number
3. Column total
4. Account balance
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Audit Understanding 12-6Audit Understanding 12-6
1. For which columns of a special journal are the column totals posted to the general ledger? Each special amount column.
2. In what order should special journals be posted to the general ledger? (1) Sales Journal (2) purchase journal, (3) general journal,
(4) cash receipts journal, (5) cash payments journal.
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LESSON 11-2
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Extra InformationExtra Information
Correcting Errors in Subsidiary Ledger Accounts
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LESSON 11-2
JOURNALIZING CORRECTING ENTRIES JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTSAFFECTING CUSTOMER ACCOUNTS
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December 10. Discovered that a sale on account to Cumberland Center on December 3 was incorrectly charged to the account of Country Crafters, $412.00. Memorandum No. 56.
1. Write the date. 5. Write the name of incorrectly charged customer.2. Write the name of correct customer.
3. Write the memorandum number.
4. Write the amount.
6. Write the amount.
