CHAPTER 4 POSTING TO A GENERAL LEDGER
CHAPTER 4 POSTING TO A GENERAL LEDGER. 2 4-2 PREPARING A CHART OF ACCOUNTS A group of accounts is called a ledger. A general ledger - is a ledger that.
Dec 15, 2015
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
CHAPTER 4
POSTING TO A GENERAL LEDGER
2
4-2 PREPARING A CHART OF ACCOUNTS
A group of accounts is called a ledger.
A general ledger - is a ledger that contains all accounts needed to prepare a financial statement.
3
RELATIONSHIP OF A T ACCOUNT TO AN ACCOUNT FORM page 91
Balance columns
4
CHART OF ACCOUNTSpage 92
Chart of Accounts - list of account titles and numbers showing the location of each account ledger. We use 5 general divisions.
5
ACCOUNT NUMBERSpage 92
The 1st digit indicates in which general ledger division the account is located.
Ex: Assets 100, Liabilities 200
The 2nd digit & 3rd digit indicate the location of an account within that division.
140150160
6
1. Write the account title.
2. Write the account number.
OPENING AN ACCOUNT IN A GENERAL LEDGERpage 94
11 22
4-2 POSTING SEPARATE AMOUNTSFROM A JOURNAL TO A GENERAL LEDGER
Transferring information from a journal entry to a ledger account is called posting.
Posting sorts journal entries so that all debits and credits affecting each account are brought together in one place.
Ex: All changes to Cash are brought together in Cash account.
8
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the debit amount.
5. Return to the journal and write the account number.
POSTING AN AMOUNT FROM A GENERAL DEBIT COLUMN page 96
33 5511
2244
9
POSTING A SECOND AMOUNT TO AN ACCOUNT page 97
335511
22
44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the debit amount.
5. Return to the journal and write the account number.
10
POSTING AN AMOUNT FROM A GENERAL CREDIT COLUMN page 98
33
5511
44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the credit amount.
5. Return to the journal and write the account number.
22
11
4-3 POSTING COLUMN TOTALS FROM A JOURNAL TO A GENERAL LEDGER page 100
Check mark indicates that amounts ARE NOT posted individually.
Check mark indicates that amounts ARE NOT posted individually.
Check mark indicates that general amount column totals ARE NOT posted.
Check mark indicates that general amount column totals ARE NOT posted.
Check marks show that amounts are not posted.
12
POSTING THE TOTAL OF THE SALESCREDIT COLUMN page 101
11
44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
2233 55
13
POSTING THE TOTAL OF THE CASH DEBIT COLUMN page 102
11
44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
225533
14
POSTING THE TOTAL OF THE CASH CREDIT COLUMN page 103
11
44
1. Write the date. 4. Write the new account balance.
2. Write the journal page number.
3. Write the column total.
5. Return to the journal and write the account number.
2255
33
15
page 105
Journal page with posting completed.
LESSON 4-4 COMPLETED ACCOUNTING FORMS AND MAKING CORRECTING ENTRIES
16
MEMORANDUM FOR A CORRECTING ENTRY page 108
17
JOURNAL ENTRY TO RECORD A CORRECTING ENTRY page 108
44
Source DocumentSource Document
33CreditCredit
11 DateDate 22 DebitDebit
November 13. Discovered that a payment of cash for advertising in October was journalized and posted in error as a debit to Miscellaneous Expense instead of Advertising Expense, $140.00. Memorandum No. 15.
Related Documents
