1. $ $ $ $ Section 2 The Posting Process What You’ll Learn Chapter 7
The purpose and importance of posting.
How often a business posts transactions.
The six steps in the posting process.
How to compute an account balance.
How to show an account with a zero balance. $ $ $

2. $ $ $ $ Why It’s Important Key Terms Chapter 7 posting
Section 2 The Posting Process (cont'd.) $
Why It’s Important
Posting brings the records of the business up-to-date. If a business did not post its transactions, the balances in ledger accounts would not be current. $ $ $
Key Terms
posting

3. $ $ $ $ The Fourth Step in the Accounting Cycle: Posting Chapter 7
Section 2 The Posting Process (cont'd.) $
The Fourth Step in the Accounting Cycle: Posting
To provide a clear picture of how each account is affected by a business transaction, the information in a journal entry is posted to the general ledger accounts. $ $
General Journal $
Utilities
Salaries
Repairs
Revenue

4. $ $ $ $ Posting from the General Journal to Ledger Accounts Chapter 7
Section 2 The Posting Process (cont'd.) $
Posting from the General Journal to Ledger Accounts $ $ $

5. $ $ $ $ Computing a New Account Balance Chapter 7
Section 2 The Posting Process (cont'd.) $
Computing a New Account Balance
Debit amounts are added together. $
Credit amounts are added together.
Debit and credit amounts are subtracted. $ $

6. $ $ $ $ Check Your Understanding Chapter 7
Section 2 The Posting Process (cont'd.) $
Check Your Understanding $
Explain the process of posting from a journal to the ledger. $ $