CENTURY 21 ACCOUNTING © Thomson/South-Western

LESSON 23-3LESSON 23-3

Journalizing Expenditures, Encumbrances, and Other Transactions

2

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

JOURNALIZING EXPENDITURESJOURNALIZING EXPENDITURES page 695

3

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

JOURNALIZING ENCUMBRANCESJOURNALIZING ENCUMBRANCES page 696

–Appropriated for Supplies

Expenditures EncumbrancesAmount Still

Available– =

$5,600.00 $900.00 $380.00 $4,320.00– – =

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

1. Entry to cancel encumbrance.

11

22

2. Entry to record expenditure.

JOURNALIZING EXPENDITURES FOR JOURNALIZING EXPENDITURES FOR AMOUNTS ENCUMBEREDAMOUNTS ENCUMBERED page 697

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

JOURNALIZING EXPENDITURES JOURNALIZING EXPENDITURES BENEFITING FUTURE PERIODSBENEFITING FUTURE PERIODS page 698

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

JOURNALIZING THE ISSUANCE OF JOURNALIZING THE ISSUANCE OF LIABILITIESLIABILITIES page 698

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

JOURNALIZING THE PAYMENT JOURNALIZING THE PAYMENT OF LIABILITIESOF LIABILITIES page 699

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

INVESTING IN SHORT-TERM INVESTING IN SHORT-TERM INVESTMENTSINVESTMENTS page 699

9

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

RECEIVING CASH FROM RECEIVING CASH FROM SHORT-TERM INVESTMENTSSHORT-TERM INVESTMENTS page 700

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 23-3

TERMS REVIEWTERMS REVIEW

encumbrance general fund assets certificate of deposit

page 701