Posting to General and Subsidiary Ledgers

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Chapter 11

• Posting to General and Subsidiary Ledgers

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38. Posting to Accounts Payable ledger
Subsidiary ledger a ledger that is summarized
in a single general ledger account Accounts
Payable ledger a subsidiary ledger containing
only accounts for vendors from whom merchandise
or other items are purchased on account Accounts
Receivable ledger a subsidiary ledger
containing only accounts for charge
customers Controlling account an account in a
general ledger that summarizes all accounts in a
subsidiary ledger
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ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER
CONTROLLING ACCOUNT
page 299
Account s
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ACCOUNTS PAYABLE LEDGER FORMS
page 300
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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.
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POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS
PAYABLE LEDGER
page 301
1. Write the date.
2. Write the journal page number.
4. Write the new account balance.
3. Write the credit amount.
5. Write the vendor number.
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POSTING FROM A CASH PAYMENTS JOURNAL TO AN
ACCOUNTS PAYABLE LEDGER
page 302
1. Write the date.
2. Write the journal page number.
3. Write the debit amount.
4. Subtract the amount in the Debit column from
the previous balance in the Credit column. Write
the new balance.
5. Write the vendor number.
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POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO
AN ACCOUNTS PAYABLE LEDGER
page 303
1. Write the date.
4. Add the amount in the Credit column to the
previous balance in the Credit Balance column.
Write the new balance.
2. Write the general journal page number.
3. Write the amount.
5. Write the vendor number.
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POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO
AN ACCOUNTS PAYABLE LEDGER
page 303
1. Write the date.
4. Add the amount in the Debit column to the
previous balance in the Debit Balance column.
Write the new balance.
2. Write the general journal page number.
3. Write the amount.
5. Write the vendor number.
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COMPLETED ACCOUNTS PAYABLE LEDGER
page 304
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38. Posting to Accounts Payable ledger
Schedule of accounts payable a listing of
vendor accounts, account balances, and total
amount due all vendors
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39. Posting to Accounts Receivable ledger
Account s
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ACCOUNTS RECEIVABLE LEDGER FORMS
page 308
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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.
5. Write the customer number.
3. Write the debit amount.
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POSTING FROM A CASH RECEIPTS JOURNAL TO AN
ACCOUNTS RECEIVABLE LEDGER
page 310
1. Write the date.
2. Write the cash receipts journal page number.
3. Write the credit 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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POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO
AN ACCOUNTS RECEIVABLE LEDGER
page 311
1. Write the date.
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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COMPLETED ACCOUNTS RECEIVABLE LEDGER
page 312
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39. Posting to Accounts Receivable ledger
Schedule of accounts receivable a listing of
customer accounts, account balances, and total
amount due all customers
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40. Posting to the general ledger
Order of posting transactions should be posted
by 1. Date 2. Then by journal in the
following order Sales journal Purchases
journal General journal Cash receipts
journal Cash payments journal
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STARTING A NEW PAGE FOR AN ACCOUNT IN A GENERAL
LEDGER
page 315
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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.
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POSTING FROM THE GENERAL AMOUNT COLUMNS OF A CASH
PAYMENTS JOURNAL TO A GENERAL LEDGER
page 316
1. Write the date.
2. Write the journal page number.
3. Write the debit amount.
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.
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POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO A
GENERAL LEDGER
page 317
1. Write the date.
2. Write the general journal page number.
3. Write the amount.
4. Calculate and write the new account balance.
5. Write the general ledger account number.
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POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO
A GENERAL LEDGER
page 318
1. Write the date.
2. Write the general journal page number.
3. Write the amount.
4. Calculate and write the new account balance.
5. Write the general ledger account number.
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POSTING TOTALS OF A SALES JOURNAL TO A GENERAL
LEDGER
page 320
1. Write the date.
2. Write the sales journal page number.
3. For each column and account, write the column
total.
4. For each account, calculate and write the new
account balance.
5. In the sales journal, write the general ledger
account number.
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POSTING THE TOTAL OF A PURCHASES JOURNAL TO A
GENERAL LEDGER
page 321
1. Write the date.
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.
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POSTING SPECIAL AMOUNT COLUMN TOTALS OF A CASH
RECEIPTS JOURNAL TO A GENERAL LEDGER
page 322
1. Date
2. Journal page number
3. Column total
4. Account balance
5. Account number
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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 number
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JOURNALIZING CORRECTING ENTRIES AFFECTING
CUSTOMER ACCOUNTS
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.
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5. Write the name of incorrectly charged customer.
1. Write the date.
2. Write the name of correct customer.
6. Write the amount.
3. Write the memorandum number.
4. Write the amount.
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POSTING CORRECTING ENTRIES AFFECTING CUSTOMER
ACCOUNTS
page 328
1. Write the date.
2. Write the general journal page number.
3. Write the amount.
4. Calculate and write the new account balances.
5. Write the appropriate customer number in the
Post. Ref. columns.