1. Introduction to Accounting Preparing for a User’s Perspective
Post Journal Entries to Account Ledgers
Debits and Credits Trainer
By Kevin C. Kimball, CPA
with support from
Free Jan. 2014
Available on the Google Play Store

2. The Full Accounting Cycle
Original Transaction Entries
Identify
Analyze
Record
Post
Prepare
Pre-adjusted TB
Adjusting Entries
Identify
Analyze
Record
Post
Prepare
Adjusted TB
Financial Statements
Closing Entries
Identify
Analyze
Record
Post
Prepare
Post-Closing TB

3. Steps in the Accounting Cycle
1) Identify
2) Analyze
Steps in the Accounting Cycle
a) What accounts?
b) Increase or decrease?
c) Amount $?
d) Debit or credit?
3) Record
5) Prepare*
Date
Account
Debit
Credit
4/8
Accts Receivable
100
Consult. Revenue
Trial Balance
DR (CR) 20 50 80
Etc.
(150) $0
Cash
Accounts Receivable
Inventory
Etc.
Accts Payable
Total
Acct. Rec
Cons. Rev.
4) Post
700
2,000
100
100
* Will include preparation of financial statements

4. The posting process using realistic, manual general ledger accounts.
Date
Account
Debit
Credit
4/8
Accts Receivable
100
Consult. Revenue
Date
Account
Post Ref
Debit
Credit
4/8
Accts Receivable
100
Consult. Revenue
1100
4100
Acct. Rec
Cons. Rev.
Beg. Balances
700
2,000
100
100
100
800
End. Balances
800
2,100
100
(2,100)
The posting process using T-Accounts to represent the general ledger accounts.
The posting process using realistic, manual general ledger accounts.
T-accounts seem to be visually easier for students to comprehend.
This is how it is really done in a manual accounting system.

5. Continued

7. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1000
1510
Cash
3000
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
2,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.

8. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1550
1000
Cash
2800
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
2,000
200,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
160,000
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.

9. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1400
1000
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
12,000
2,000
200,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
160,000
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.

10. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1220
2000
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
7,000
12,000
2,000
200,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
7,000
160,000
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.

11. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1100
4000
Cash
5000
Beg. Bal.
1220
98,000
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
40,000
12,000
5,000
7,000
12,000
2,000
200,000
3,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
160,000
100,000
7,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000

12. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
6200
2310
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
7,000
12,000
2,000
200,000
3,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100
160,000
100,000
7,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000
100

13. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
2000
1000
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100
100,000
4,000
7,000
160,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000
100

14. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
2000
1100
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
4,000
4,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100
4,000
7,000
160,000
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000
100

15. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1020
1000
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
4,000
4,000
5,000
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
7,000
100
160,000
100,000
4,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000
100

16. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
1000
7110
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
4,000
4,000
5,000
200
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100,000
4,000
7,000
100
160,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
5,000
3,000
100
200

17. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
3200
1000
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
4,000
4,000
5,000
200
100
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100
160,000
100,000
4,000
7,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
100
5,000
3,000
100
200

18. Cash Beg. Bal. Investments Acct. Rec Inventory Prep. Ins. Equipment
6600
2500
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
4,000
4,000
5,000
200
100
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
100,000
4,000
7,000
100
500
160,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
100
5,000
3,000
100
500
200

19. Computing Each Ledger’s Ending Balance for the Pre-Adjusted Trial Balance (Step 5)
Debits $268,800
Credits ($268,800)
= $0 in balance
Cash
Beg. Bal.
Investments
Acct. Rec
Inventory
Prep. Ins.
Equipment
Building
98,000
40,000
12,000
5,000
5,000
7,000
12,000
2,000
200,000
4,000
3,000
5,000
4,000
4,000
200,000
5,000
4,000
12,000
2,000
200
100
1,000
41,100
Acct. Pay.
Comm. Pay.
Util. Pay.
Notes Pay.
Cap. Stock
Ret. Earn.
Beg. Bal.
7,000
100
4,000
500
160,000
100,000
3,000
100
500
160,000
100,000
Dividends
Sales Rev.
COGS
Com. Exp.
Util. Exp.
Div. Inc.
Beg. Bal.
100
5,000
3,000
100
500
200
100
5,000
3,000
100
500
200

20. Cash
98,000
40,000
12,000
4,000
4,000
5,000
200
100
41,100

25. Steps in the Accounting Cycle
1) Identify
2) Analyze
Steps in the Accounting Cycle
a) What accounts?
b) Increase or decrease?
c) Amount $?
d) Debit or credit?
3) Record
5) Prepare*
Date
Account
Debit
Credit
4/8
Accts Receivable
100
Consult. Revenue
Trial Balance
DR (CR) 20 50 80
Etc.
(150) $0
Cash
Accounts Receivable
Inventory
Etc.
Accts Payable
Total
Acct. Rec
Cons. Rev.
700
2,000
4) Post
100
100
Etc.
* Will include preparation of financial statements
Etc.
Etc.
Etc.

26. Introduction to Accounting Preparing for a User’s Perspective
Post Journal Entries to Account Ledgers
Debits and Credits Trainer
By Kevin C. Kimball, CPA
with support from
Free Jan. 2014
Available on the Google Play Store