Chapter 6.1
Recording Journal Entries
16
• Enter the date
Chapter 6.1
Recording Journal Entries
16
Date
99Nov.Nov.20—20—
Chapter 6.1
Recording Journal Entries
16
Step 2
99Nov.Nov.20—20—
• Enter the debit account(s)
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies
• Enter the debit amount(s)
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
• Indent and enter the credit account(s)
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank
• Enter the credit amount(s)
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
• Write a brief explanation (at left margin)
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
• Skip a line and complete next entry
Chapter 6.1
Recording Journal Entries
16
1 3 5 –
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
A/P—World Wide Fibre Optics
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
A/P—World Wide Fibre Optics 10 0 0 0 –
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
A/P—World Wide Fibre Optics 10 0 0 0 –
Bank
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
A/P—World Wide Fibre Optics 10 0 0 0 –
Bank 2 0 0 0 –
Chapter 6.1
Recording Journal Entries
16
99Nov.Nov.20—20—
Supplies 1 3 5 –
Bank 1 3 5 –
Letterhead and envelopes; cheque #40
12 Equipment 12 0 0 0 –
A/P—World Wide Fibre Optics 10 0 0 0 –
Bank 2 0 0 0 –
Network software installation; issued cheque
#41 with the balance due in 30 days.
Chapter 6.1
Recording Journal Entries
16
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12 Equipment
A/P—World Wide Fibre Optics
Network software installation; issued cheque
#41 with the balance due in 30 days.
12 0 0 0 –
Bank
10 0 0 0 –
2 0 0 0 –
1 3 5 –
99Nov.Nov.20—20—
Journal Entry Facts
Chapter 6.1
Recording Journal Entries
16
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12 Equipment
A/P—World Wide Fibre Optics
Network software installation; issued cheque
#41 with the balance due in 30 days.
12 0 0 0 –
Bank
10 0 0 0 –
2 0 0 0 –
1 3 5 –
99Nov.Nov.20—20—
• Consecutive page numbers
Journal Entry Facts
Chapter 6.1
Recording Journal Entries
16
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12 Equipment
A/P—World Wide Fibre Optics
Network software installation; issued cheque
#41 with the balance due in 30 days.
12 0 0 0 –
Bank
10 0 0 0 –
2 0 0 0 –
1 3 5 –
99Nov.Nov.20—20—
• Each journal entry balances
Journal Entry Facts
Chapter 6.1
Recording Journal Entries
16
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12 Equipment
A/P—World Wide Fibre Optics
Network software installation; issued cheque
#41 with the balance due in 30 days.
12 0 0 0 –
Bank
10 0 0 0 –
2 0 0 0 –
1 3 5 –
99Nov.Nov.20—20—
• A “compound entry” affects more than two accounts
Journal Entry Facts
Chapter 6.1
Recording Journal Entries
16
Supplies 1 3 5 –
Bank
Letterhead and envelopes; cheque #40
12 Equipment
A/P—World Wide Fibre Optics
Network software installation; issued cheque
#41 with the balance due in 30 days.
12 0 0 0 –
Bank
10 0 0 0 –
2 0 0 0 –
1 3 5 –
99Nov.Nov.20—20—
• Account titles are capitalized
Journal Entry Facts
Chapter 6.1
Recording Journal Entries
16
• Amounts in the opening journal entry are the same as amounts on the opening balance sheet
Bank
Supplies
Equipment
Bank Loan
Opening financial position of Shirley Cassar
19 5 5 0 –
Shirley Cassar, Capital
10 0 0 0 –
1 4 0 0 –3030Oct.Oct.20—20—
Automobile
22 0 9 0 –
8 7 1 5 –
2 4 2 5 –
The Opening Entry