Posting to General and Subsidiary Ledgers Chapter 11 Posting to General and Subsidiary Ledgers

38. Posting to Accounts Payable ledger Subsidiary ledger – a ledger that is summarized in a single general ledger account Accounts Payable ledger – a subsidiary ledger containing only accounts for vendors from whom merchandise or other items are purchased on account Accounts Receivable ledger – a subsidiary ledger containing only accounts for charge customers Controlling account – an account in a general ledger that summarizes all accounts in a subsidiary ledger

ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 299 Account #’s LESSON 11-1

ACCOUNTS PAYABLE LEDGER FORMS page 300 1 2 3 4 5 6 1. Write the vendor name. 2. Write the vendor number. 3. Write the date. 4. Write the word Balance. 5. Place a check mark in the Post. Ref. column. 6. Write the balance. LESSON 11-1

POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 301 2 1 3 5 4 1. Write the date. 2. Write the journal page number. 4. Write the new account balance. 3. Write the credit amount. 5. Write the vendor number. LESSON 11-1

POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 302 2 1 5 3 1. Write the date. 2. Write the journal page number. 3. Write the debit amount. 4 4. Subtract the amount in the Debit column from the previous balance in the Credit column. Write the new balance. 5. Write the vendor number. LESSON 11-1

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 303 2 1 5 3 4 1. Write the date. 4. Add the amount in the Credit column to the previous balance in the Credit Balance column. Write the new balance. 2. Write the general journal page number. 3. Write the amount. 5. Write the vendor number. LESSON 11-1

POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 303 2 1 3 5 4 1. Write the date. 4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new balance. 2. Write the general journal page number. 3. Write the amount. 5. Write the vendor number. LESSON 11-1

COMPLETED ACCOUNTS PAYABLE LEDGER page 304 LESSON 11-1

38. Posting to Accounts Payable ledger Schedule of accounts payable – a listing of vendor accounts, account balances, and total amount due all vendors

39. Posting to Accounts Receivable ledger

ACCOUNTS RECEIVABLE LEDGER FORMS page 308 1 Customer name 2 Customer number LESSON 11-2

POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 309 2 5 1 3 4 1. Write the date. 4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new account balance. 2. Write the sales journal page number. 5. Write the customer number. 3. Write the debit amount. LESSON 11-2

POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 310 2 1 5 3 1. Write the date. 2. Write the cash receipts journal page number. 3. Write the credit amount. 4 4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 5. Write the customer number. LESSON 11-2

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 311 2 1. Write the date. 2. Write the general journal page number. 1 3. Write the amount. 5 3 4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 4 5. Write the customer number. LESSON 11-2

COMPLETED ACCOUNTS RECEIVABLE LEDGER page 312 LESSON 11-2

39. Posting to Accounts Receivable ledger Schedule of accounts receivable – a listing of customer accounts, account balances, and total amount due all customers

40. Posting to the general ledger Order of posting – transactions should be posted by 1. Date 2. Then by journal in the following order: Sales journal Purchases journal General journal Cash receipts journal Cash payments journal

STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL LEDGER 1 2 3 4 5 6 1. Write the account title. 2. Write the account number. 3. Write the date. 4. Write the word Balance in the Item column. 5. Place a check mark in the Post. Ref. column. 6. Write the balance. LESSON 11-3

POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGER page 316 2 3 1 5 1. Write the date. 2. Write the journal page number. 3. Write the debit amount. 4 4. Add the amount in the Debit column to the previous balance in the Balance Debit column. Write the new balance. 5. Write the general ledger account number. LESSON 11-3

POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGER page 317 2 1. Write the date. 2. Write the general journal page number. 1 5 3 3. Write the amount. 4. Calculate and write the new account balance. 4 5. Write the general ledger account number. LESSON 11-3

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGER page 318 2 1. Write the date. 2. Write the general journal page number. 1 5 3 3. Write the amount. 4. Calculate and write the new account balance. 5. Write the general ledger account number. 4 LESSON 11-3

POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGER LESSON 11-4 4/13/2017 POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGER page 320 2 1. Write the date. 2. Write the sales journal page number. 1 3 3. For each column and account, write the column total. 5 4. For each account, calculate and write the new account balance. 4 5. In the sales journal, write the general ledger account number. LESSON 11-4

POSTING THE TOTAL OF A PURCHASES JOURNAL TO A GENERAL LEDGER page 321 2 1. Write the date. 2. Write the purchases journal page number. 3. For each account, write the purchases journal column total. 3 1 5 4. For each account, calculate and write the new balance. 5. Write the purchases general ledger account number and the accounts payable general ledger account number. 4 LESSON 11-4

POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH RECEIPTS JOURNAL TO A GENERAL LEDGER page 322 2 1. Date 2. Journal page number 1 3 3. Column total 5 4. Account balance 5. Account number 4 LESSON 11-4

POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGER page 324 2 1 3 5 1. Date 2. Journal page number 4 3. Column total 4. Account balance 5. Account number LESSON 11-4

JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS LESSON 11-5 4/13/2017 JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page 327 December 10. Discovered that a sale on account to Cumberland Center on December 3 was incorrectly charged to the account of Country Crafters, $412.00. Memorandum No. 56. 2 4 1 5 3 6 1. Write the date. 5. Write the name of incorrectly charged customer. 2. Write the name of correct customer. 6. Write the amount. 3. Write the memorandum number. 4. Write the amount. LESSON 11-5 Blue

POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS LESSON 11-5 4/13/2017 POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS page 328 2 1 3 5 1. Write the date. 2. Write the general journal page number. 3. Write the amount. 4. Calculate and write the new account balances. 4 5. Write the appropriate customer number in the Post. Ref. columns. LESSON 11-5 Blue