Lecture 4-2 - 4-2 Posting from a General Journal to a...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 4-2 Posting from a General Journal to a General LedgerREVIEW: The transaction; Owner Invested $5000. is shown below.GENERAL JOURNALPAGE 1DateAccount TitleDoc.No.PostRef.DebitCredit1Aug1CASHR111050002Kim Park, Capital310500033SuppliesC21505004CASH110500Now, we’re going to POST the journal transaction above into the appropriate LEDGERS, below.STEP 1. The Cash amount in the general journal above shows a 5000 debit. Therefore, we need to carry that $5000 debit to the LEDGER account below. The date is the same as the Journal. The Item column is left blank. The POST REF column is the General Journal Page Number (G1). The $5000 is placed in the Debit column. Since there is no previous balance, we can assume it was zero. Therefore, a previous balance of zero, plus a $5,000 debit equals a balance of $5000 DEBIT. Lastly, you need to put the cash account number (110) in the Post Ref column in the General Journal (see above). It’s important that you do this last. It shows that you have posted the amount to the...
View Full Document

This note was uploaded on 04/12/2011 for the course ACCT 2310 taught by Professor Santoshattar during the Fall '08 term at Cuyahoga CC.

Page1 / 2

Lecture 4-2 - 4-2 Posting from a General Journal to a...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online