CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

Accounting, Wednesday, April 11

Welcome Back!!

Today we start Chapter 11

Let’s begin by Defining the five terms for

Lesson 11-1, pages 298 – 305

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

TERMS REVIEW

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

page 306

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 11-1

Posting to an Accounts Payable Ledger

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 299

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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LESSON 11-1

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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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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LESSON 11-1

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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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

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LESSON 11-1

COMPLETED ACCOUNTS PAYABLE LEDGER page 304

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

PROVING THE ACCOUNTS PAYABLE LEDGER page 305

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 11-1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 5-1

ASSIGNMENT

Own Your Own 11-1 on Aplia practice / completion grade, pg. 306

Application 11-1: Grade It Now, page 331IMPORTANT HINTS: If the balance is zero, only the vendor name &

number is entered Start with each General Ledger Account and

enter transactions in CHRONOLOGICAL ORDER