CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Accounting Bell Ringer Thursday, February 16 BELL RINGER Organize your Notebook using Ch. 8 Rubric Professional Reading Book Check

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Thursday, February 16 AGENDA Starting Part 2 in the Text Book Chapter 9 Journalizing Purchases and Cash Payment Show Professional Reading for Q3 REMINDER: TODAY IS THE LAST DAY FOR CH. 8 APLIA ASSIGNMENTS NO extra credit if application/mastery problems are not completed

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1 Journalizing Purchases Using a Purchases Journal

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 9-1 PURCHASING MERCHANDISE page 236 Account used for recording the _________ ______ _______________ is titled ______________. It has a normal ___________ balance.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 9-1 PURCHASES ON ACCOUNT page 236 A ____________ account that summarizes the ____________ owed to _____ ___________________ is titled ____________ ____________. This liability account has a normal ______________ balance.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 9-1 PURCHASES JOURNAL page 237 A ____________ ______________ used to record only ____________ of ________________________ on account is called a __________ ___________. All of the purchase on account transactions involve a _______ to ____________ and a __________ to ___________ _____________. Therefore, a purchase on account tranaction is recorded on only _______ line of the purchases journal.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Purchases Journal If a purchase is made for cash, is it recorded in the Purchases Journal?

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 9-1 A purchase invoice is a ___________ ___________ recording a purchase on account transaction. A purchase invoice lists the ___________, the __________________, the _______ of each item, and the _____________ __________ of the invoice. PURCHASE INVOICE

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON Stamp the date received and purchase invoice number. PURCHASE INVOICE page Review the vendor’s terms. 3.Initials of the person who checked the invoice. 2.Place a check mark by each amount.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 9-1 PURCHASING MERCHANDISE ON ACCOUNT page 239 November 2. Purchased merchandise on account from Crown Distributing, $2, Purchase Invoice No Write the date. 2.Write the vendor name. 3.Write the purchase invoice number. 4.Write the amount of the invoice.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 11 LESSON 9-1 TOTALING AND RULING A PURCHASES JOURNAL page Rule a single line across the amount column. 2.Write the date. 3.Write the word Total. 4.Add the amount column. 5.Write the total. 6.Rule double lines across the amount column.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 12 LESSON 9-1 TERMS REVIEW merchandise merchandising business retail merchandising business wholesale merchandising business corporation share of stock capital stock stockholder special journal cost of merchandise markup vendor purchase on account purchases journal special amount column purchase invoice terms of sale page 241

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 13 LESSON 5-1 ASSIGNMENT Work Together 9-1 as a Class, pg. 241

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 14 LESSON 9-1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 15 LESSON 5-1 ASSIGNMENT Own Your Own 9-1 on Aplia practice / completion grade, pg. 241 Application 9-1: Grade It Now, page 260 Finish FOUR modules in Everfi (everfi.net) Show me your professional reading book Seventeen terms from the chapter

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 16 LESSON 5-1 Exit Ticket DEFINE THE SEVENTEEN TERMS FOR LESSON 9-1 PLEASE REMEMBER TO PUT THE BOOKS IN THE CABINET