P O S T I N G T O A N AC C O U N T S PAYA B L E L E D G E R

LESSON 11-1

LEDGERS AND CONTROLLING ACCOUNTS

• Subsidiary Ledgers• A business needs to know the amount owed by each vendor as well

as the amount to be collected from each charge customer. Therefore, a separate account is needed for each vendor and each customer.

• A ledger that is summarized in a single general ledger account is called a subsidiary ledger.

• A subsidiary ledger containing only accounts for vendors from whom merchandise or other items are purchased on account is called an accounts payable ledger.

• A subsidiary ledger containing only accounts for charge customers is called an accounts receivable ledger.

• An account in a general ledger that summarizes all accounts in a subsidiary ledger is called a controlling account.

LESSON 11-1 3

ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 299

LESSON 11-1 4

ACCOUNTS PAYABLE LEDGER FORMS

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page 300

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.

LESSON 11-1 5

POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER

page 301

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.

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LESSON 11-1 6

POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER page 302

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.

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LESSON 11-1 7

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS

PAYABLE LEDGER page 303

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.

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LESSON 11-1 8

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

LEDGER page 303

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.

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LESSON 11-1 9

COMPLETED ACCOUNTS PAYABLE LEDGER

page 304

PROVING THE ACCOUNTS PAYABLE LEDGER

• A controlling account balance in a general ledger must equal the sum of all account balances in a subsidiary ledger. Hobby Shack proves subsidiary ledgers at the end of each month.

• A listing of vendor accounts, balances, and total amount due is called a schedule of accounts payable.

• A schedule of accounts payable is prepared after all entries in a journal are posted.

LESSON 11-1 11

PROVING THE ACCOUNTS PAYABLE LEDGER

page 305

LESSON 11-1 12

TERMS REVIEW

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

page 306

P O S T I N G T O A N A C C O U N T S R E C E I VA B L E L E D G E R

LESSON 11-2

LESSON 11-2 14

ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 307

LESSON 11-2 15

ACCOUNTS RECEIVABLE LEDGER FORMS page 308

1Customer name 2Customer number

LESSON 11-2 16

POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER

page 309

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.

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LESSON 11-2 17

POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER

page 310

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.

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LESSON 11-2 18

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

1. Write the date.

page 311

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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.

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LESSON 11-2 19

COMPLETED ACCOUNTS RECEIVABLE LEDGER

page 312

PROVING THE ACCOUNTS RECEIVABLE LEDGER

• A listing of customer accounts, account balances, and total amount due from all customers is called a schedule of accounts receivable.

LESSON 11-2 21

PROVING THE ACCOUNTS RECEIVABLE LEDGER

page 313

LESSON 11-2 22

TERM REVIEW

• schedule of accounts receivable

page 314

P O S T I N G F R O M J O U R N A L S T O A G E N E R A L L E D G E R

LESSON 11-3

LESSON 11-3 24

STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL LEDGER

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3 4 5 6

page 315

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.

LESSON 11-3 25

POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH PAYMENTS JOURNAL TO

A GENERAL LEDGER page 316

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

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LESSON 11-3 26

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

5. Write the general ledger account number.

page 317

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1. Write the date.

2. Write the general journal page number.

3. Write the amount.

4. Calculate and write the new account balance.

LESSON 11-3 27

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

5. Write the general ledger account number.

page 318

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1. Write the date.

2. Write the general journal page number.

3. Write the amount.

4. Calculate and write the new account balance.

P O S T I N G S P E C I A L J O U R N A L T O T A L S T O A G E N E R A L L E D G E R

LESSON 11-4

LESSON 11-4 29

POSTING TOTALS OF A SALES JOURNAL TO A GENERAL LEDGER

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

page 320

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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.

LESSON 11-4 30

POSTING THE TOTAL OF A PURCHASES JOURNAL TO A GENERAL LEDGER

1. Write the date.

page 321

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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

LESSON 11-4 31

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

LEDGER page 322

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1. Date

2. Journal page number

3. Column total

4. Account balance

5. Account number

LESSON 11-4 32

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

GENERAL LEDGER page 324

1. Date

2. Journal page number

3. Column total

4. Account balance

5. Account number2

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C O R R E C T I N G E R R O R S I N S U B S I D I A R Y L E D G E R A C C O U N T S

LESSON 11-5

LESSON 11-5 34

JOURNALIZING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS

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page 327

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.

LESSON 11-5 35

POSTING CORRECTING ENTRIES AFFECTING CUSTOMER ACCOUNTS

page 328

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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.