Learning Targets Chapter 11-1 and 11-2I will be responsible for knowing and understanding the following

concepts:Define Accounting Terms: Related to posting to ledgersIdentify Accounting Concepts and Practices: related to posting to ledgersPost Separate Items From: Purchases, Cash Payments, and general journal's to

an accounts payable ledger Post Separate Items From: Sales, Cash Receipts, and General Journals to an

accounts receivable ledgerI will be able to listen to my instructor and take notes, be an active

participant as needed.I will complete the appropriate Workbook Assignments

Does a corporation have more or less accounts than a sole proprietorship?

Is it effective for a corporation to use ONE General Ledger for all their accounts?

Posting to an 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

Controlling Account: An account in a general ledger that summarizes all accounts in a subsidiary ledger.

NEW TERMS

Schedule of Accounts Payable: A listing of vendor accounts, account balances, and total amount due all vendors

NEW TERMS

ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT

ACCOUNTS PAYABLE LEDGER FORMS

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.

POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER

1. Write the date.

2. Write the journal page number.

3. Write the credit amount.

4. Write the new account balance.

5. Write the vendor number.

1

2

3

4

5

POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER

4. Subtract the amount in the Debit column from the previous balance in the Credit column. Write the new balance.

1. Write the date.

5. Write the vendor number.

2. Write the journal page number.

3. Write the debit amount.

1 2 3

4

5

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER

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.

1 35

4

2

POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE

LEDGER

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.

1

4

2 53

COMPLETED ACCOUNTS PAYABLE LEDGER

PROVING THE ACCOUNTS PAYABLE LEDGER

subsidiary ledger accounts payable ledger accounts receivable ledger controlling account schedule of accounts payable

LESSON 11-1 13

TERMS REVIEW page 306

LESSON 11-2

•When we post transactions that have to do with cash we RECEIVE, which subsidiary ledger do you think we will post to?

ACCOUNTS RECEIVABLE LEDGER FORMS

1Customer name 2Customer number

POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE

LEDGER

4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new account balance.

1. Write the date.

2. Write the sales journal page number.

3. Write the debit amount. 5. Write the customer number.

4

2

53

1

POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER

4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance.

2. Write the cash receipts journal page number.

5. Write the customer number.

3. Write the credit amount.

1. Write the date.

4

1

2

3

5

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS

RECEIVABLE LEDGER1. Write the date.

4

21 5

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.

3

COMPLETED ACCOUNTS RECEIVABLE LEDGER

PROVING THE ACCOUNTS RECEIVABLE LEDGER

TB WB

WT 11-1 Pg. 306 Pgs. 253-254

WT 11-2 Pg. 314 Pgs. 257-258

OYO 11-1 Pg. 306 Pgs. 255-256

OYO 11-2 Pg. 314 Pgs. 259-260

LESSON 11-2 21

Work Book Assignments page 314

Learning Targets Chapter 11-3, 11-4, and 11-5

I will be responsible for knowing and understanding the following concepts:Define Accounting Terms: Related to posting to ledgersIdentify Accounting Concepts and Practices: related to posting to ledgersPost Separate Items From: Cash Payments Journal and General Journal to

general ledgers. Post Separate Items From: Special Journal Column Totals to general ledgers.Correct Errors in Subsidiary Ledger Accounts

I will be able to listen to my instructor and take notes, be an active participant as needed.

I will complete the appropriate Workbook Assignments

LESSON 11-3Posting from Journals to a General Ledger

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.

POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH PAYMENTS JOURNAL

TO A GENERAL LEDGER

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.

1. Write the date.

2. Write the journal page number.

3. Write the debit amount. 4

23

1 5

POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL

LEDGER

5. Write the general ledger account number.

4

2

3

51

1. Write the date.

2. Write the general journal page number.

3. Write the amount.

4. Calculate and write the new account balance.

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO A GENERAL LEDGER

5. Write the general ledger account number.

4

2

3

51

1. Write the date.

2. Write the general journal page number.

3. Write the amount.

4. Calculate and write the new account balance.

LESSON 11-4Posting Special Journal Totals to a General

Ledger

POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGER

5. In the sales journal, write the general ledger account number.

5

5

51

1

1

2

2

2

3

3

3

4

4

4

4. For each account, calculate and write the new account balance.

1. Write the date.

2. Write the sales journal page number.

3. For each column and account, write the column total.

POSTING THE TOTAL OF A PURCHASES JOURNAL TO A GENERAL LEDGER

1. Write the date.

4

41

1

3

3

5

5

2. Write the purchases journal page number.

3. For each account, write the purchases journal column total.

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.2

2

POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH RECEIPTS JOURNAL TO A GENERAL LEDGER

5 5 5 5 5

4

44

4

4

1

11

1

1

2

22

2

2

3

33

3

3

1. Date

2. Journal page number

3. Column total

4. Account balance

5. Account number

POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH PAYMENTS JOURNAL TO A GENERAL LEDGER

1. Date

2. Journal page number

3. Column total

4. Account balance

5. Account number2

2

2

3

3

3

4

4

4

5 5

5

1

1

1

LESSON 11-5Correcting Errors in Subsidiary Ledger

Accounts

JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER

ACCOUNTS

12

3

4

5 6

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.

1. Write the date. 5. Write the name of incorrectly charged customer.2. Write the name of correct customer.

3. Write the memorandum number.

4. Write the amount.

6. Write the amount.

POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS

2

2

1

1

4

4

5

5

3

3

3. Write the amount.

2. Write the general journal page number.

1. Write the date.

5. Write the appropriate customer number in the Post. Ref. columns.

4. Calculate and write the new account balances.

TB WB

WT 11-3 Pg. 319 Pgs. 261-263

WT 11-4 Pg. 326 Pgs. 261-263

OYO 11-3 Pg. 319 Pgs. 264-266

OYO 11-4 Pg. 326 Pgs. 264-266

LESSON 11-2 36

Work Book Assignments page 314

LESSON 11-5Correcting Errors in Subsidiary Ledger

Accounts

JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER

ACCOUNTS

12

3

4

5 6

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.

1. Write the date. 5. Write the name of incorrectly charged customer.2. Write the name of correct customer.

3. Write the memorandum number.

4. Write the amount.

6. Write the amount.

POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS

2

2

1

1

4

4

5

5

3

3

3. Write the amount.

2. Write the general journal page number.

1. Write the date.

5. Write the appropriate customer number in the Post. Ref. columns.

4. Calculate and write the new account balances.