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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 4-3 Completed General Ledger, Proving Cash, and Making Correcting Entries
CENTURY 21 ACCOUNTING © Thomson/South-Western
LESSON 4-3
Completed General Ledger, Proving Cash, and Making Correcting Entries
CENTURY 21 ACCOUNTING © Thomson/South-Western
2
LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 102
(continued on next slide)
CENTURY 21 ACCOUNTING © Thomson/South-Western
3
LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 103
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CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 103
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CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 104
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CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 104
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CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 105
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CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
GENERAL LEDGER WITH POSTING COMPLETED page 105
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CENTURY 21 ACCOUNTING © Thomson/South-Western
Proving Cash:
Determining that the amount of cash agrees with the balance of the
cash account in the accounting records.
*Completed monthly.
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LESSON 4-3
PROVING CASH page 106
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LESSON 4-3
MEMORANDUM FOR A CORRECTING ENTRY page 106
CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
CORRECTING ENTRY
A journal entry made to correct an error in the ledger is called a correcting entry
CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
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.
JOURNAL ENTRY TO RECORD A CORRECTING ENTRY page 107
4 Source Document
3Credit
1 Date2 Debit
CENTURY 21 ACCOUNTING © Thomson/South-Western
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LESSON 4-3
TERMS REVIEW
proving cash correcting entry
page 108
