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Accounting I Chapter 12 – Posting to General & Subsidiary Ledgers.

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Presentation on theme: "Accounting I Chapter 12 – Posting to General & Subsidiary Ledgers."— Presentation transcript:

1 Accounting I Chapter 12 – Posting to General & Subsidiary Ledgers

2 T ERMS REVIEW subsidiary ledger accounts payable ledger accounts receivable ledger controlling account Lesson 12-1, page 279

3 T ERMS REVIEW Subsidiary Ledger A ledger that is summarized in a single general ledger account. Lesson 12-1, page 274

4 T ERMS REVIEW Accounts Payable Ledger A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account. Lesson 12-1, page 274

5 T ERMS REVIEW Accounts Receivable Ledger A subsidiary ledger containing only accounts for charge customers. Lesson 12-1, page 274

6 T ERMS REVIEW Controlling Account An account in a general ledger that summarizes all accounts in a subsidiary ledger. Lesson 12-1, page 274

7 POSTING A JOURNAL’S GENERAL AMOUNT COLUMNS 3.Write the debit amount. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Write the general ledger account number in the Post. Ref. column of the journal Lesson 12-1, page 276

8 POSTING A JOURNAL’S SPECIAL AMOUNT COLUMNS 3.Write the Cash Credit column total. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Return to the journal and write the general ledger account number in parentheses below the Cash Credit column total Lesson 12-1, page 277

9 RULES FOR POSTING A JOURNAL’S COLUMN TOTALS General amount column totals ARE NOT posted Special amount column totals ARE posted Lesson 12-1, page 278

10 STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL LEDGER Write the date. 1. Write the account title. 5.Place a check mark in the Post. Ref. column. 2.Write the account number. 6.Write the account balance. 6 4.Write Balance. Lesson 12-1, page 278

11 Work Together & On Your Own – Page 279

12 ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT Lesson 12-2, page 280

13 OPENING ACCOUNTS PAYABLE LEDGER FORMS Lesson 12-2, page Vendor Name 2. Vendor Number 12

14 POSTING A CREDIT TO AN ACCOUNTS PAYABLE LEDGER Lesson 12-2, page Write the credit amount. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Write the vendor number.

15 POSTING A DEBIT TO AN ACCOUNTS PAYABLE LEDGER Lesson 12-2, page Write the debit amount. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Write the vendor number.

16 STARTING A NEW PAGE FOR A VENDOR IN AN ACCOUNTS PAYABLE LEDGER Lesson 12-2, page Write the date. 1. Write the vendor name. 5.Place a check mark in the Post. Ref. column. 2.Write the vendor number. 6.Write the account balance. 6 4.Write Balance.

17 COMPLETED ACCOUNTS PAYABLE LEDGER Lesson 12-2, page 284

18 Work Together & On Your Own – Page 285

19 ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT Lesson 12-3, page 286

20 OPENING ACCOUNTS RECEIVABLE LEDGER FORMS 1. Customer Name2. Customer Number 12 Lesson 12-3, page 287

21 POSTING A DEBIT TO AN ACCOUNTS RECEIVABLE LEDGER Lesson 12-3, page Write the debit amount. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Write the customer number.

22 POSTING A CREDIT TO AN ACCOUNTS RECEIVABLE LEDGER Lesson 12-3, page Write the credit amount. 1. Write the date. 4.Calculate and write the new account balance. 2.Write the journal page number. 5.Write the customer number.

23 COMPLETED ACCOUNTS RECEIVABLE LEDGER Lesson 12-3, page 290

24 Work Together & On Your Own – Page 291

25 T ERMS REVIEW schedule of accounts payable schedule of accounts receivable Lesson 12-4, page 294

26 T ERMS REVIEW Schedule of Accounts Payable A listing of vendor accounts, account balances, and total amount due all vendors. Lesson 12-4, page 292

27 T ERMS REVIEW Schedule of Accounts Receivable A listing of customer accounts, account balances, and total amount due from all customers. Lesson 12-4, page 293

28 PROVING THE ACCOUNTS PAYABLE LEDGER Lesson 12-4, page 292

29 PROVING THE ACCOUNTS RECEIVABLE LEDGER Lesson 12-4, page 293

30 Work Together & On Your Own – Page 294


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