11.2 The Synoptic Journal

11.2 The Synoptic Journal

Synoptic Journal Multi-columned journal with a number of

selected special columns and two general columns. The special columns are used to record the more frequently occurring items; the two general columns are used to record the less frequently occurring items. Each special column is reserved for a specific type of entry as indicated in the column heading. At posting time, the totals of the special columns are posted to the general ledger.

Bombay trading Company In your workbook page 398-399 (w)

Transaction 1 May 4: Cash Sales ticket No. 57. Sales of $256.00 of merchandise for each, HST of $33.28, total $289.28

Recov. PayableDR CR DR CR DR CR CR DR DR CR Accounts PR DR CR

May 4 Cash Sales 57 289.28 256 33.28

Synoptic Journal Month of May, 20-- Page: 41Bombay Trading CompanyDate 20-

Sales PurchasesHST

Particulars Other AccountsRef No.

Bank Accounts Receivable Accounts Payable

Transaction 2 May 5: Sales Invoice No. 165. Issued to Paul Rogan, sales of $412.00 of merchandise on account, HST of $53.56, total $465.56.


May 4 Cash Sales 57 289.28 256 33.285 P. Rogan 165 465.56 412 53.56


Sales PurchasesHST



Transaction 3 May 6: Purchase Invoice. Received from Empire Wholesale for merchandise purchased on account, $816.00. HST payable rate is 13%.


May 4 Cash Sales 57 289.28 256.00 33.285 P. Rogan 165 465.56 412.00 53.566 Empire Wholesale 922.08 816.00 106.08


Sales PurchasesHST



Transaction 4 May 7: Purchase Invoice and Cheque Copy No. 74.. For the cash purchase of supplies from Deluxe Stationers, $235.40.


May 4 Cash Sales 57 289.28 256.00 33.285 P. Rogan 165 465.56 412.00 53.566 Empire Wholesale 922.08 816.00 106.087 Deluxe Stationers74 266.00 30.60 Supplies 235.40


Sales PurchasesHST



Transaction 5 May 7: Cheque Copy No. 75. Paid the rent for the month to Ryder Realty, $2800.00. HST recoverable is $364.00.


May 4 Cash Sales 57 289.28 256.00 33.285 P. Rogan 165 465.56 412.00 53.566 Empire Wholesale 922.08 816.00 106.087 Deluxe Stationers74 266.00 30.60 Supplies 235.407 Ryder Realty 75 3164.00 364.00 Rent Expense 2800.00


Sales PurchasesHST



Transaction 6 May 10: Cheque Copy No. 76. Issued to A. Baldwin on account, $173.50.



10 A. Baldwin 76 173.50 173.50

Synoptic Journal Month of May, 20-- Page: 41Bombay Trading Company

Date 20- Sales PurchasesHST



Transaction 7 May 10: Cheque Copy No. 77. Issued to G. English & Co. on account, $500.00



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.00





Transaction 8 May 11: Cash Receipt. Received from R. Mayotte on account, $352.00



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.0011 R. Mayotte 352.00 352.00





Transaction 9 May 11: Cash Receipt. Received from P. Fuhr on account, $620.00.



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.0011 R. Mayotte 352.00 352.0011 P. Fuhr 620.00 620.00





Transaction 10 May 13: Cheque Copy No. 78. Issued to M. Cham in payment of wages, $585.00. (For simplicity, wages do not consider payroll deductions



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.0011 R. Mayotte 352.00 352.0011 P. Fuhr 620.00 620.0013 M. Cham 78 585.00 Wages Expense 585.00





Transaction 11 May 13: Cheque Copy No. 79. Issued to D. Adams in payment of wages, $650.00.



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.0011 R. Mayotte 352.00 352.0011 P. Fuhr 620.00 620.0013 M. Cham 78 585.00 Wages Expense 585.0013 D. Adams 79 650.00 Wages Expense 650.00





Transaction 12 May 14: Sales Invoice No. 166. Issued to M. Delgaty for merchandise sold on account, $196.00, plus $25.48 HST, total $221.48.



10 A. Baldwin 76 173.50 173.5010 G. English & Co77 500.00 500.0011 R. Mayotte 352.00 352.0011 P. Fuhr 620.00 620.0013 M. Cham 78 585.00 Wages Expense 585.0013 D. Adams 79 650.00 Wages Expense 650.0014 M. Delgaty 166 221.48 196.00 25.48





Complete the remaining transactions Transaction 13 May 14: Sales Invoice No. 167. Issued to Carl Kwan for

merchandise sold on account, $240.00 plus $31.20 HST, total $271.48.

Transaction 14 May 17: Purchase Invoice. Received from Continental Railway for freight charges on incoming merchandise, $436.50, plus $56.75 HST, total $493.25.

Transaction 15 May 18: Purchase Invoice. Received from Budget Repairs for maintenance to the delivery truck, $262.54 plus $34.13 HST, total $296.67.

Transaction 16 May 19: Cheque Copy No. 80. Issued to P. Kerr, the owner, for personal use, $800.00

Transaction 17 May 20: Cheque Copy No. 81 together with Purchase Invoice. Issued to Ideal Supply in payment of merchandise purchased for cash, $475.00 plus $61.75, total $536.75.

Transaction 18 May 21: Purchase Invoice. Received from Circle Supply for supplies purchased on account, $267.50 plus $34.78 HST, total $302.28.

Transaction 19 May 21: Purchase Invoice. Received from Deluxe Stationers for the purchase on account of a new office desk at a cost of $1053.95 and merchandise at a cost of $224.70 plus $166.22 HST, total $1444.87.

Transaction 20 May 24: Bank Credit Memo. To the effect that the company has borrowed $5000.00 from the Continental Bank effective immediately.

Transaction 21 May 26: Cheque Copy No. 82. Issued to Empire Wholesale on Account, $400.00

Transaction 22 May 26: Purchase Invoice. Received from Prairie Manufacturing for the purchase of merchandise on account, $750.00 plus $97.50 HST, total $847.50.

Transaction 23 May 26: Cash Receipt. Received from R. Stoddard on account, $300.00

Transaction 24 May 27: Cheque Copy No. 83. Issued to M. Ejima for wages, $585.00

Transaction 25 May 27: Cheque Copy No. 84. Issued to D. Adams for wages, $650.00

Transaction 26 May 31: Sales Invoice No. 168. Issued to Purity Company for the sale of merchandise on account, $540.00 plus $80.20 HST, total $610.20.

Transaction 27 May 31: Sales Invoice No. 169. Issued to O’Valley Whole sale for the sale of merchandise on account, $3200.00 plus $416.00 HST, total $3616.00.

Balancing the Synoptic Journal To balance simply total each column, prove

that the sum of the debit totals equals the sum of the credit totals, and underline appropriately.

Posting the Synoptic Journal For each of the special account columns, the

column totals are posted rather than the individual amounts within the columns. By posting only the totals, a great deal of time is saved.

Forwarding in the Synoptic Journal A new page must be started whenever a page

is filled up. When a new page is started in any columnar journal during the month, should start it off with the balanced totals from the bottom of the previous page. Totals at the end of one page are forwarded to the next page.

Variations in Journalizing in the Synoptic Journal1. Debit entries may be entered in Credit

columns (credit may enter debit), but they must be circled or written in red. When the column is totalled, the circled item must be subtracted to give the proper total.

2. There are times when two or more lines may be required. This occurs when at least two of the accounts affected by the transaction need to be entered in the Other Accounts section of the journal.

Let’s try it; Review questions # 3, 5-12, p. 499 (t), p. 400

(w) Ex. 2 p. 500 (t), p. 402-404 (w)

11.2 The Synoptic Journal

Documents

w transaction

purchase invoice

cheque copy

sales invoice

payroll deductions transaction

payment of merchandise

hst recoverable

cash purchase of supplies