Ch+03+Edited

Ch 03 Edited

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Unformatted text preview: n what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-24 3-47 SO 7 Explain what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-25 3-48 SO 7 Explain what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-26 3-49 SO 7 Explain what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-27 3-50 The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-28 3-51 SO 7 Explain what posting is and how it helps in the recording process. The Recording Process Illustrated The Recording Process Illustrated Additional Transactions 3-52 Illustration 3-29 SO 7 Explain what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-30 3-53 SO 7 Explain what posting is and how it helps in the recording process. The The The The Recording Recording Process Process Illustrated IIllustrated llustrated Illustrated Additional Transactions Illustration 3-31 3-54 SO 7 Summary Illustration of Journalizing Summary Illustration of Journalizing Illustration 3-32 3-55 SO 7 Explain what posting is and how it helps in the recording process. SO Summary Illustration of Journalizing Summary Illustration of Journalizing Illustration 3-32 3-56 SO 7 Explain what posting is and how it helps in the recording process. SO Summary Summary Summary Summary IIllustration llustration offPosting of Posting of o Illustration 3-33 3-57 SO 7 Explain what posting is and how it helps in the recording process. The Trial Balance The Trial Balance A list of accounts and their balances at a given time. Purpose is to prove that debits equal credits. Illustration 3-34 3-58 The Trial Balance The Trial Balance Limitations of a Trial Balance The trial balance may balance even when 1. a transaction is not journalized, 2. a correct journal entry is not posted, 3. a journal entry is posted twice, 4. incorrect accounts are used in journalizing or posting, or 5. offsetting errors are made in recording the amount of a transaction. 3-59 SO 8 Explain the purposes of a trial balance. The Trial Balance The Trial Balance Review Question A trial balance will not balance if: a. b. the purchase of supplies on account is debited to Supplies and credited to Cash. c. a $100 cash dividends is debited to the Dividends account for $1,000 and credited to Cash for $100. d. 3-60 a correct journal entry is posted twice. a $450 payment on account is debited to Accounts Payable for $45 and credited to Cash for $45. SO 8 Explain the purposes of a trial balance....
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This note was uploaded on 09/27/2013 for the course MGT 11A taught by Professor Armstrong during the Fall '08 term at UC Davis.

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