1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account 1.Journalize transactions correctly.

2. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Competency: Understanding the Accounting Cycle for a Service Business 2 LESSON 3-3 Objectives : 36 Use source documents to journalize transactions. 38 Prepare customer invoices for a service business.

3. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 3 Objectives Define accounting terms related to journalizing transactions. Identify accounting concepts and practices related to journalizing transactions. Record transactions to set up a business in a five-column journal. Record transactions to buy insurance for cash and supplies on account in a five-column journal. Record transactions that affect owner’s equity and receiving cash on account in a five-column journal. Prove and rule a five-column journal and prove cash. 3 LESSON 3-3

4. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 3-3 RECEIVED CASH FROM SALES page 67 August 12. Received cash from sales, $295.00. Tape No. 12. 1.Write the date in the Date column. 2.Write the debit amount in the Cash Debit column. 3.Write the credit amount in the Sales Credit column. Place a check mark in the Account Title column. A check mark is also placed in the Post. Ref. column. 4.Write the source document number in the Doc. No. column. 4 21 333

5. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 3-3 SOLD SERVICES ON ACCOUNT page 68 August 12. Sold services on account to Oakdale School, $350.00. Sales Invoice No. 1. 1.Write the date in the Date column. 2.Record the debit amount in the General Debit column. Write the title of the account in the Account Title column. 3.Write the credit amount in the Sales Credit column. 4.Write the source document number in the Doc. No. column. 413 2 2

6. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 3-3 PAID CASH FOR AN EXPENSE page 69 August 12. Paid cash for rent, $300.00. Check No. 4. 1.Write the date in the Date column. 2.Write the debit amount in the General Debit column. Write the title of the account in the Account Title column. 3.Write the credit amount in the Cash Credit column. 4.Write the source document number in the Doc. No. column. 41 3 22

7. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 3-3 RECEIVED CASH ON ACCOUNT page 70 August 18. Received cash on account from Oakdale School, $200.00. Receipt No. 2. 1.Write the date in the Date column. 2.Write the debit amount in the Cash Debit column. 3.Record the credit amount in the General Credit column. Write the title of the account in the Account Title column. 4.Write the source document number in the Doc. No. column. 12 4 3 3

8. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 3-3 PAID CASH TO OWNER FOR PERSONAL USE page 71 August 18. Paid cash to owner for personal use, $125.00. Check No. 6. 1.Write the date in the Date column. 2.Write the debit amount in the General Debit column. Write the title of the account in the Account Title column. 3.Write the credit amount in the Cash Credit column. 4.Write the source document number in the Doc. No. column. 41 3 22

9. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Exit Ticket for Chapter 3-3 1.Which journal columns are used to record receiving cash from sales? 2.Which journal columns are used to record sales on account? 3.Which journal columns are used to record paying cash for an expense? 4.Which journal columns are used to record receiving cash on account? 5.Which journal columns are used to record paying cash to the owner for personal use? 9 LESSON 3-3 In a Word Document, SaveAS: Chapter3-3AYUYourName Drop a copy in my InBox today before you leave!

10. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 3-3 Assignments Complete on Aplia Work Together 3-3 On Your Own 3-3 Application Problem 3-3 10 LESSON 3-3