Posting to a General Ledger Chapter 6

Relationship of a T Chart T Left side Debit Right Side Credit These columns are equal

Accounts in a General Ledger  Ledger  General Ledger  Account number

Balance Sheet AccountsIncome Statement Accounts Chart of Accounts (100) Assets 110Cash 120 Petty Cash 130Supplies 140Prepaid Insurance (200) Liabilities 210 Butler Cleaning Supplies 220 Dale Office Supplies (300) Owner’s Equity 310 Ben Furman, Capital 320 Ben Furman, Drawing 330 Income Summary (400) Revenue 410Sales (500) Expenses 510 Advertising Expense 520Insurance Expense 530Miscellaneous Expense 540 Rent Expense 550Repair Expense 560 Supplies Expense 570 Utilities Expense

Numbering General Ledger Accounts 130