tailieunhanh - Lecture Accounting fundamentas (7e): Chapter 20 - Curran

Chapter 20 - The accounts payable ledger. After completing this chapter, students will be able to: Post to the Accounts payable ledger, prepare a schedule of accounts payable, record transactions involving notes payable. | CHAPTER TWENTY THE ACCOUNTS PAYABLE LEDGER 1. Post to the Accounts Payable ledger. 2. Prepare a schedule of Accounts Payable. 3. Record transactions involving notes payable. THE ACCOUNTS PAYABLE LEDGER Objectives: 20- The Accounts Payable Ledger Businesses use special ledgers like the Accounts Payable ledger to be more efficient in their financial operation. Separate accounts are used for each creditor. 20- The Accounts Payable Ledger (continued) All accounts for creditors can be placed in the Accounts Payable ledger. Accounts Payable ledgers are known as subsidiary ledgers. 20- Posting To the Accounts Payable Ledger Entries should be posted to the Accounts Payable ledger on a daily basis. Up-to-date information is critical for the operation of a business. 20- Posting to the Accounts Payable Ledger (continued) When the ledger is set up, the name, address, and terms for each creditor are recorded on a separate ledger card. 20- Posting to the Accounts Payable . | CHAPTER TWENTY THE ACCOUNTS PAYABLE LEDGER 1. Post to the Accounts Payable ledger. 2. Prepare a schedule of Accounts Payable. 3. Record transactions involving notes payable. THE ACCOUNTS PAYABLE LEDGER Objectives: 20- The Accounts Payable Ledger Businesses use special ledgers like the Accounts Payable ledger to be more efficient in their financial operation. Separate accounts are used for each creditor. 20- The Accounts Payable Ledger (continued) All accounts for creditors can be placed in the Accounts Payable ledger. Accounts Payable ledgers are known as subsidiary ledgers. 20- Posting To the Accounts Payable Ledger Entries should be posted to the Accounts Payable ledger on a daily basis. Up-to-date information is critical for the operation of a business. 20- Posting to the Accounts Payable Ledger (continued) When the ledger is set up, the name, address, and terms for each creditor are recorded on a separate ledger card. 20- Posting to the Accounts Payable Ledger (continued) Each transaction listed in the purchases journal is posted individually to a creditor’s account in the Accounts Payable ledger. 20- Posting to the Accounts Payable Ledger (continued) If a creditor’s account already has a balance when a purchase is posted, the amount of the purchase must be added to the previous balance. 20- Posting to the Accounts Payable Ledger (continued) Each transaction listed in the Accounts Payable Debit column of the cash payments journal is posted individually to a creditor’s account in the Accounts Payable ledger. 20- Posting to the Accounts Payable Ledger (continued) Each time Accounts Payable is debited or credited in the General Journal, the entry is posted individually to a creditor’s account in the Accounts Payable Ledger. 20- Proving the Accounts Payable Ledger At the end of the month, the Accounts Payable ledger must be proved. To do this, a schedule of Accounts Payable is prepared. 20- Proving the Accounts Payable .

• Kế toán - Kiểm toán
• Accounting fundamentas
• Lecture Accounting fundamentas
• Nguyên lý kế toán
• Accounts payable ledger
• Schedule of accounts payable
• Notes payable
• 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
• General ledger
• Posting reference
• Correcting errors
• 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
• Goods sold
• Cost of goods sold
• Ten column worksheet
• Classified balance sheet
• Adjusting entries
• Banking procedures
• Deposit slips
• Check stubs