Transcript Chapter 11 PowerPoint for 4th Quarter Seniors!

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Posting to an Accounts
Payable Ledger
LESSON 11-1
Welcome back!!!!!!
Objectives
 Identify and Define accounting terms
related to posting to ledgers
 Post separate items from a
purchases, cash payments and
general journal to an accounts
payable ledger.
So…what is a subsidiary
ledger???
 A business needs to know the amount
owed each vendor as well as the
amount to be collected from each
charge customer.
 Therefore, a separate account is
needed for each vendor and
customer.
What to know…
 An account number is assigned to each
vendor account to increase the ease of filling
and locating the accounts.
 The total of all vendor account balances in
the accounts payable ledger should always
equal the balance of the controlling account,
Accounts Payable.
REMEMBER…
 The total amount owed to ALL vendors is
summarized in a single general ledger
account….ACCOUNTS PAYABLE.
ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER
CONTROLLING ACCOUNT
LESSON 11-1
7
page 299
ACCOUNTS PAYABLE LEDGER
FORMS
1
3
1.
2.
3.
4.
5.
6.
4
page 300
2
5
6
Write the vendor name.
Write the vendor number.
Write the date.
Write the word Balance.
Place a check mark in the Post. Ref. column.
Write the balance.
LESSON 11-1
8
POSTING FROM A PURCHASES
JOURNAL TO AN ACCOUNTS
PAYABLE LEDGER
2
1
page 301
5
3
1. Write the date.
2. Write the journal page number.
3. Write the credit amount.
4
4. Write the new account balance.
5. Write the vendor number.
LESSON 11-1
9
POSTING FROM A CASH PAYMENTS JOURNAL TO AN
ACCOUNTS PAYABLE LEDGER
page 302
5
1
2
3
1. Write the date.
2. Write the journal
page number.
3. Write the debit
4
amount.
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
10
POSTING A CREDIT ENTRY FROM A GENERAL
JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 303
1
3
2
5
4
1. Write the date.
2. Write the general journal
page number.
3. Write the amount.
4. Add the amount in the Credit column to
the previous balance in the Credit
Balance column. Write the new balance.
5. Write the vendor number.
LESSON 11-1
11
POSTING A DEBIT ENTRY FROM A GENERAL
JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 303
1
5
2
3
4
1. Write the date.
2. Write the general journal
page number.
3. Write the amount.
4. Add the amount in the Debit column to
the previous balance in the Debit
Balance column. Write the new balance.
5. Write the vendor number.
LESSON 11-1
12
COMPLETED ACCOUNTS PAYABLE
LEDGER
LESSON 11-1
13
page 304
PROVING THE ACCOUNTS PAYABLE
LEDGER
page 305
schedule of accounts
payable
LESSON 11-1
14
To do list
 Aplia 11.1
 Work together & On Your
Own + Application
TERMS REVIEW
page 306
 subsidiary ledger
 accounts payable ledger
 accounts receivable ledger
 schedule of accounts payable
LESSON 11-1
16
Posting to an Accounts
Receivable Ledger
LESSON 11-2
Objective 11-2
 Post separate items from a sales, cash
receipts, and general journal to an accounts
receivable ledger.
Last time…
 The total of all customer account balances in
the accounts payable ledger equals the
balance of the controlling account, Accounts
payable….
 TODAY…..
ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER
CONTROLLING ACCOUNT
LESSON 11-2
20
page 307
•Schedule of Accounts
Receivable.
a listing of customer
accounts, account balances,
and total amount due from
all customers. (p. 313)
ACCOUNTS RECEIVABLE
LEDGER FORMS
1
Customer name
2
page 308
Customer number
This ledger form is designed to accommodate accounts with DEBIT
balances
Notice that the form has only one balance column-DEBIT, because all
customer accounts have a NORMAL debit balance.
LESSON 11-2
22
FYI…
 When an account that is no longer used is
removed from the accounts receivable ledger,
that customer number is available for
assignment to a new customer.
POSTING FROM A SALES JOURNAL TO AN
ACCOUNTS RECEIVABLE LEDGER
page 309
2
1
5
3
4
1. Write the date.
4. Add the amount in the Debit column to the
previous balance in the Debit Balance
2. Write the sales journal
column. Write the new account balance.
page number.
3. Write the debit amount. 5. Write the customer number.
LESSON 11-2
24
POSTING FROM A CASH RECEIPTS JOURNAL TO AN
ACCOUNTS RECEIVABLE LEDGER
page 310
5
1. Write the date.
1
3
2. Write the cash
receipts journal
page number.
3. Write the credit
2
amount.
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
25
4
POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO
page 311
AN ACCOUNTS RECEIVABLE LEDGER
3
1
2
5
4
1. Write the date.
2. Write the general
journal page
number.
3. Write the amount.
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
26
COMPLETED ACCOUNTS
RECEIVABLE LEDGER
LESSON 11-2
page 312
27
PROVING THE ACCOUNTS
RECEIVABLE LEDGER
LESSON 11-2
page 313
28
TERM REVIEW
page 314
 schedule of accounts receivable
 a listing of customer accounts, account balances,
and total amount due from all customers. (p. 313)
LESSON 11-2
29
To do List
 Aplia 11.2
 Work together & On your own
 Application Problem
 Explore Accounting (Page 330)
 Exit Ticket
Exit Ticket
 Summarize the procedure for preparing a
schedule of accounts receivable.
Posting from
Journals to a General
Ledger
LESSON 11-3
ACCOUNTING
Objective
Post separate items from a cash payments
journal and a general journal to a general
ledger.
In this lesson…
 We will post from a general journal to general
ledger accounts.
 We will also post from a cash payments
journal
STARTING A NEW PAGE FOR AN
ACCOUNT IN A GENERAL LEDGER
page 315
1
3
4
2
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
35
POSTING FROM THE GENERAL AMOUNT COLUMNS OF A
CASH PAYMENTS JOURNAL TO A GENERAL LEDGER
2
3
5
1
1. Write the date.
2. Write the journal
page number.
3. Write the debit
4
amount.
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
36
page 316
POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO
page 317
A GENERAL LEDGER
1. Write the date.
2. Write the
general journal
page number.
3. Write the
amount.
4. Calculate and
write the new
account
balance.
5. Write the
general ledger
account number.
5
1
2
3
4
LESSON 11-3
37
POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO
page 318
A GENERAL LEDGER
1
2
1. Write the date.
2. Write the
general journal
page number.
3. Write the
amount.
4. Calculate and
write the new
account
balance.
5. Write the
general ledger
account number.
5
3
4
LESSON 11-3
38