tailieunhanh - Lecture Accounting fundamentas (7e): Chapter 8 - Curran

Chapter 8 - The general ledger. After completing this chapter, students will be able to: Post entries from a general journal to general ledger accounts, set up and arrange the general ledger accounts, complete the balance columns of the general ledger accounts, correct errors in the general ledger, prepare a trial balance from the general ledger accounts. | CHAPTER EIGHT The General Ledger 1. Post entries from a general journal to general ledger accounts. 2. Set up and arrange the general ledger accounts. 3. Complete the Balance columns of the general ledger accounts. 4. Correct errors in the general ledger. 5. Prepare a trial balance from the general ledger accounts. THE GENERAL LEDGER Objectives: 8- Posting to the Ledger The year, month, and day are entered in the Date column. The description column is for special notations you may want to enter. 8- Posting to the Ledger (continued) The Posting Reference column is used to refer back to the original entry. A “J3” entry would indicate that the information came from the journal on page 3. 8- Posting to the Ledger (continued) If a debit appears in the journal, it will appear as a debit in the ledger. If a credit appears in the journal, it will appear as a credit in the ledger. A running balance appears in the ledger. 8- Posting to the Ledger (continued) The number of the | CHAPTER EIGHT The General Ledger 1. Post entries from a general journal to general ledger accounts. 2. Set up and arrange the general ledger accounts. 3. Complete the Balance columns of the general ledger accounts. 4. Correct errors in the general ledger. 5. Prepare a trial balance from the general ledger accounts. THE GENERAL LEDGER Objectives: 8- Posting to the Ledger The year, month, and day are entered in the Date column. The description column is for special notations you may want to enter. 8- Posting to the Ledger (continued) The Posting Reference column is used to refer back to the original entry. A “J3” entry would indicate that the information came from the journal on page 3. 8- Posting to the Ledger (continued) If a debit appears in the journal, it will appear as a debit in the ledger. If a credit appears in the journal, it will appear as a credit in the ledger. A running balance appears in the ledger. 8- Posting to the Ledger (continued) The number of the ledger account will appear in the Post Reference column in the journal. 8- Setting Up and Using Accounts in the General Ledger To make posting as simple as possible, a separate ledger sheet is used for each account. All the accounts together make up the general ledger. 8- Completing the Balance Columns of the Accounts As each entry is posted from the journal, the ledger account balance is computed and recorded in either the Debit Balance or the Credit Balance column. 8- Correcting Errors in the Ledger If an amount is incorrectly posted or posted to the wrong account, the error is corrected by drawing a single line through the incorrect data and writing the correct information above it. 8- Correcting Errors in the Ledger (continued) If the error involves a journal entry that was incorrectly recorded and posted to the wrong account, then another entry is required to correct the error. 8- Proving the Ledger The trial balance tests the accuracy of the entries in the .

• Kế toán - Kiểm toán
• Accounting fundamentas
• Lecture Accounting fundamentas
• Nguyên lý kế toán
• General ledger
• Posting reference
• Correcting errors
• Trial balance
• Accounting errors
• Accounting terminology
• Accounting for purchases
• Purchases discounts
• Freight in
• Accounting equation
• Balance sheet
• Principles of accounting
• Analyze business transactions
• Net income
• The worksheet
• Financial statements
• Business transactions
• Closing the ledger
• Closing entries
• Postclosing trial balance
• Accounting cycle
• Accounting for sales
• Sales discounts
• Sales returns
• Purchases journal
• Recording transactions
• Worksheet adjustments
• Uncollectible accounts
• Owner’s equity accounts
• Form of accounts
• Account balances
• Expense accounts
• Recording revenue
• Transaction analysis
• Income statement
• General journal
• Chart of accounts
• Business’s transactions
• Merchandising businesses
• Charge account
• Cash discount
• Unpaid invoice file
• Purchases returns
• The sales journal
• Special journal
• Cash receipts journal
• Memorandum entry
• Cash payments journal
• Cash purchases
• Accounts receivable ledger
• Accounts receivable
• Statement of account
• Accounts payable ledger
• Schedule of accounts payable
• Notes payable
• Goods sold
• Cost of goods sold
• Ten column worksheet
• Classified balance sheet
• Adjusting entries
• Banking procedures
• Deposit slips
• Check stubs