1. Accounting, Wednesday, April 11
LESSON 2-1
4/26/2017
Accounting, Wednesday, April 11
Welcome Back!!
Today we start Chapter 11
Let’s begin by Defining
the five terms for
Lesson 11-1, pages 298 – 305
Only 19 B days left!

2. TERMS REVIEW subsidiary ledger accounts payable ledger
page 306
subsidiary ledger
accounts payable ledger
accounts receivable ledger
controlling account
schedule of accounts payable
LESSON 11-1

3. LESSON 11-1 Posting to an Accounts Payable Ledger
4/26/2017
LESSON 11-1
Posting to an Accounts Payable Ledger

4. ACCOUNTS PAYABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT
page 299
LESSON 11-1

5. ACCOUNTS PAYABLE LEDGER FORMS
page 300 1 2 3 4 5 6
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.
LESSON 11-1

6. LESSON 11-1

7. POSTING FROM A PURCHASES JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 301 2 1 3 5 4
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.
LESSON 11-1

8. LESSON 11-1

9. POSTING FROM A CASH PAYMENTS JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 302 2 1 5 3
1. Write the date.
2. Write the journal page number.
3. Write the debit amount. 4
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.
LESSON 11-1

10. LESSON 11-1

11. POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 303 2 1 5 3 4
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.
LESSON 11-1

12. LESSON 11-1

13. POSTING A DEBIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS PAYABLE LEDGER
page 303 2 1 3 5 4
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.
LESSON 11-1

14. LESSON 11-1

15. COMPLETED ACCOUNTS PAYABLE LEDGER
LESSON 11-1
4/26/2017
COMPLETED ACCOUNTS PAYABLE LEDGER
page 304
All of the vendor accounts make up the complete accounts payable ledger.
After the accounts payable ledger has been posted, the credit balance in each vendor account represents the amount the business owes each vendor.
LESSON 11-1

16. PROVING THE ACCOUNTS PAYABLE LEDGER
LESSON 11-1
4/26/2017
PROVING THE ACCOUNTS PAYABLE LEDGER
page 305
At the end of the month, the business prepares a schedule of accounts payable.
Which is a listing of each vendor and the vendor’s balance in the accounts payable ledger.
After all postings are complete, the total amounts payable shown on the schedule of accounts payable should be the same as the controlling account, accounts payable.
If they are the same then the accounts payable amount is proved.
Three line heading
LESSON 11-1

17. LESSON 11-1

18. LESSON 11-1

19. Own Your Own 11-1 on Aplia practice / completion grade, pg. 306
ASSIGNMENT
Own Your Own 11-1 on Aplia practice / completion grade, pg. 306
Application 11-1: Grade It Now, page 331
IMPORTANT HINTS:
If the balance is zero, only the vendor name & number is entered
Start with each General Ledger Account and enter transactions in CHRONOLOGICAL ORDER
LESSON 5-1