1. Chapter 6 - Journalizing

2. Book of original entry. Transactions recorded in chronological order. Purpose of the Journal: 1. Shows the complete effects of a transaction. 2. Provides a chronological record of transactions. 3. Helps to prevent or locate errors because the debit and credit amounts can be easily compared. The Journal SO 4 Explain what a journal is and how it helps in the recording process.

3. Chapter 6.1 16 Enter the date Recording Journal Entries

4. Chapter 6.1 16 Date 9Nov.20—

5. Chapter 6.1 16 Step 2 9Nov.20— Enter the debit account(s)

6. Chapter 6.1 16 Enter Debit Accounts 9Nov.20— Supplies

7. Chapter 6.1 16 9Nov.20— Supplies Enter the debit amount(s) Step 3

8. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Enter Debit Amounts

9. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Indent and enter the credit account(s) Step 4

10. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank Enter Credit Accounts

11. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank Enter the credit amount(s) Step 5

12. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Enter Credit Amounts

13. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Write a brief explanation (at left margin) Step 6

14. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 Write Explanation

15. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 Skip a line and complete next entry Skip a line

16. Chapter 6.1 16 1 3 5 – 9Nov.20— Supplies 1 3 5 – Bank Letterhead and envelopes; cheque #40 12 Record the Next Entry

17. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment Record the Next Entry

18. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – Record the Next Entry

19. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – A/P—World Wide Fibre Optics Record the Next Entry

20. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – A/P—World Wide Fibre Optics 10 0 0 0 – Record the Next Entry

21. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – A/P—World Wide Fibre Optics 10 0 0 0 – Bank Record the Next Entry

22. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – A/P—World Wide Fibre Optics 10 0 0 0 – Bank 2 0 0 0 – Record the Next Entry

23. Chapter 6.1 16 9Nov.20— Supplies 1 3 5 – Bank 1 3 5 – Letterhead and envelopes; cheque #40 12 Equipment 12 0 0 0 – A/P—World Wide Fibre Optics 10 0 0 0 – Bank 2 0 0 0 – Network software installation; issued cheque #41 with the balance due in 30 days. Record the Next Entry

24. Chapter 6.1 16 Supplies 1 3 5 – Bank Letterhead and envelopes; cheque #40 12 Equipment A/P—World Wide Fibre Optics Network software installation; issued cheque #41 with the balance due in 30 days. 12 0 0 0 – Bank 10 0 0 0 – 2 0 0 0 – 1 3 5 – 9Nov. 20— Consecutive page numbers Page Numbers

25. Chapter 6.1 16 Supplies 1 3 5 – Bank Letterhead and envelopes; cheque #40 12 Equipment A/P—World Wide Fibre Optics Network software installation; issued cheque #41 with the balance due in 30 days. 12 0 0 0 – Bank 10 0 0 0 – 2 0 0 0 – 1 3 5 – 9Nov. 20— Each journal entry balances Balanced Entries

26. Chapter 6.1 16 Supplies 1 3 5 – Bank Letterhead and envelopes; cheque #40 12 Equipment A/P—World Wide Fibre Optics Network software installation; issued cheque #41 with the balance due in 30 days. 12 0 0 0 – Bank 10 0 0 0 – 2 0 0 0 – 1 3 5 – 9Nov.20— A “compound entry” affects more than two accounts Compound Entries

27. Chapter 6.1 16 Supplies 1 3 5 – Bank Letterhead and envelopes; cheque #40 12 Equipment A/P—World Wide Fibre Optics Network software installation; issued cheque #41 with the balance due in 30 days. 12 0 0 0 – Bank 10 0 0 0 – 2 0 0 0 – 1 3 5 – 9Nov. 20— Account titles are capitalized Account Titles

28. Chapter 6.1 16 Amounts in the opening journal entry are the same as amounts on the opening balance sheet Bank Supplies Equipment Bank Loan Opening financial position of Shirley Cassar 19 5 5 0 – Shirley Cassar, Capital 10 0 0 0 – 1 4 0 0 – 30Oct.20— Automobile 22 0 9 0 – 8 7 1 5 – 2 4 2 5 – The Opening Entry