Lesson 1-4 6/13/2007

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 4-1

Chapter 4Chapter 4

Posting to the

General Ledger

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 4-1

Objectives:Objectives:

1. Define accounting terms related to posting to a general ledger.

2. Identify accounting concepts and practices related to posting from a journal to a general ledger.

3. Prepare a chart of accounts for a service business organized as a proprietorship.

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Lesson 1-4 6/13/2007

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Objectives (Objectives (con�tcon�t.):.):

4. Post separate amounts from a journal to a general ledger.

5. Post column totals from a journal to a general ledger.

6. Analyze and journalize correcting entries.

CENTURY 21 ACCOUNTING © Thomson/South-Western

LESSON 4LESSON 4--11

Preparing a Chart of Accounts

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RELATIONSHIP OF A T ACCOUNT RELATIONSHIP OF A T ACCOUNT TO AN ACCOUNT FORMTO AN ACCOUNT FORM page 91

Balance columns

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CHART OF ACCOUNTSCHART OF ACCOUNTS page 92

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ACCOUNT NUMBERSACCOUNT NUMBERS page 92

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1. Write the account title.2. Write the account number.

OPENING AN ACCOUNT OPENING AN ACCOUNT IN A GENERAL LEDGERIN A GENERAL LEDGER page 94

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LESSON 4LESSON 4--22

Posting Separate Amounts

from a Journal to aGeneral Ledger

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the debit amount.

5. Return to the journal and write the account number.

POSTING AN AMOUNT POSTING AN AMOUNT FROM A GENERAL DEBIT COLUMNFROM A GENERAL DEBIT COLUMN page 96

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POSTING A SECOND AMOUNT POSTING A SECOND AMOUNT TO AN ACCOUNTTO AN ACCOUNT page 97

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the debit amount.

5. Return to the journal and write the account number.

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POSTING AN AMOUNT POSTING AN AMOUNT FROM A GENERAL CREDIT COLUMNFROM A GENERAL CREDIT COLUMN page 98

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the credit amount.

5. Return to the journal and write the account number.

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ApplicationApplication

Application Problem

4-2

(p. 111)

CENTURY 21 ACCOUNTING © Thomson/South-Western

LESSON 4LESSON 4--33

Posting Column Totalsfrom a Journal to a

General Ledger

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CHECK MARKS SHOW THAT AMOUNTS CHECK MARKS SHOW THAT AMOUNTS ARE NOT POSTEDARE NOT POSTED page 100

Check mark indicates that amounts ARE NOT posted individually.

Check mark indicates that general amount column totals ARE NOT posted.

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POSTING THE TOTAL POSTING THE TOTAL OF THE SALES CREDIT COLUMNOF THE SALES CREDIT COLUMN page 101

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the column total.

5. Return to the journal and write the account number.

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POSTING THE TOTAL POSTING THE TOTAL OF THE CASH DEBIT COLUMNOF THE CASH DEBIT COLUMN page 102

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the column total.

5. Return to the journal and write the account number.

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POSTING THE TOTAL POSTING THE TOTAL OF THE CASH CREDIT COLUMNOF THE CASH CREDIT COLUMN page 103

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1. Write the date. 4. Write the new account balance.2. Write the journal page number.

3. Write the column total.

5. Return to the journal and write the account number.

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ApplicationApplication

Application Problem

4-3

(p. 111)

CENTURY 21 ACCOUNTING © Thomson/South-Western

LESSON 4LESSON 4--44

Completed Accounting Forms and Making Correcting Entries

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JOURNAL PAGE JOURNAL PAGE WITH POSTING COMPLETEDWITH POSTING COMPLETED page 105

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MEMORANDUM MEMORANDUM FOR A CORRECTING ENTRYFOR A CORRECTING ENTRY page 108

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JOURNAL ENTRY JOURNAL ENTRY TO RECORD A CORRECTING ENTRYTO RECORD A CORRECTING ENTRY page 108

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Source Document

33Credit

11 Date 22 Debit

November 13. Discovered that a payment of cash for advertising in October was journalized and posted in error as a debit to Miscellaneous Expense instead of Advertising Expense, $140.00. Memorandum No. 15.

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TERMS REVIEWTERMS REVIEW

ledger general ledger account number file maintenance opening an account

page 95

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TERM REVIEWTERM REVIEW

posting

page 99

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TERM REVIEWTERM REVIEW

correcting entry

page 109

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HomeworkHomework

1.1 Application Problems

a. Review problems completed in class.b. Use available interactive e-workpapers to complete

application problems not worked in class. c. No Chapter 4 application problems are due this week.

1.2 Mastery Problem 4-5 (p. 112)Sect. 3A � Due 06/20/07Sect. 5B � Due 06/18/07

1.3 Quiz � Chapter 4a. Sect. 3A � Due 06/20/07

Sect. 5B � Due 06/18/07b. Email quiz results to Instructor

(pcarter9@mccneb.edu) and toyourself.

1.4 Exam 1 (Chapters 1 � 5), 100 points, 75 minutesSect. 3A -- Sat, 06/23/07Sect. 5B � Sat, 06/21/07

Congratulations ! You have made it through Chapter 4.

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Reminder:Reminder:

Exam #1

Chapters 1 through 5

Sect. 3A � Saturday, 06/23/07

Sect. 5B � Thursday, 06/21/07