Journalizing

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Parts of a Journal
Correct process in journalizing
Sample journalized transaction

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  • Journalizing

    1. 1. JOURNALIZING Prepared by: JOSEPHINE AÑONUEVO – DINGLASAN 22 OCTOBER 2010
    2. 2. Enumerate the correct process of journalizing business transaction. Record business transaction using two-column journal sheet. Observe accuracy, speed, and neatness of work OBJECTIVES
    3. 3. RULES OF DEBITS AND CREDITS Increase in Asset Decrease in Capital Decrease in Asset Decrease in Income Increase in Expense DEBIT CREDIT Decrease in Liabilities Increase in Liabilities Increase in Capital Increase in Income Decrease in Expense
    4. 4. A 1. book of original entry 2. recording business transaction in the journal 3. process of entering transaction in the journal B a. Journalizing b. Ledger c. Journal d. Journal entry e. Posting f. Footing g. Closing h. Bookkeeping
    5. 5. A 4. book of final entry 5. chronological record of business transaction B a. Journalizing b. Ledger c. Journal d. Journal entry e. Posting f. Footing g. Closing h. Bookkeeping
    6. 6. PARTS OF THE GENERAL JOURNAL DATE DESCRIPTION DEBIT CREDITP/R Month Day Debit Account Credit Account Explanation 2010
    7. 7. 5. Record the credit account followed by the amount credited. 1. Label the parts of the general journal. 3. Record the month and the date of the transaction. 4. Record the debit account followed by the amount debited. 2. Record the year of the transaction. Procedures in Journalizing 6. Write a brief explanation about the transaction.
    8. 8. BILIS PADALA DELIVERY SERVICES August 31, 2010 August 1 - Mr. Jhun Ran invested Php 250,000 cash to start the business.
    9. 9. DATE DESCRIPTION DEBIT CREDITP/R GENERAL JOURNAL 2010 Aug. 1 Cash 250000 Jan Ran, Capital Owner’s initial investment 250000
    10. 10. BILIS PADALA DELIVERY SERVICES August 31, 2010 August 1 - Mr. Jhun Ran invested Php 250,000 cash to start the business. 3 - Purchased delivery truck Php 80,000.
    11. 11. DATE DESCRIPTION DEBIT CREDITP/R GENERAL JOURNAL 2010 Aug. 1 Cash 250000 Jan Ran, Capital Owner’s initial investment 250000 3 Automobile-Delivery Truck 80000 Cash 80000 Bought delivery truck for cash
    12. 12. BILIS PADALA DELIVERY SERVICES August 31, 2010 August 1 - Mr. Jhun Ran invested Php 250,000 cash to start the business. 3 - Purchased delivery truck Php 80,000. 5 - Purchased supplies for cash, Php 4,000.
    13. 13. DATE DESCRIPTION DEBIT CREDITP/R GENERAL JOURNAL 2010 Aug. 1 Cash 250000 Jan Ran, Capital Owner’s initial investment 250000 3 Automobile-Delivery Truck 80000 Cash 80000 Bought delivery truck for cash 5 Supplies 4000 Cash Bought supplies for cash 4000 Page 1
    14. 14. August 8 - Purchased computer unit on account, Php 25,000. 11 - Received cash Php 10,000 for delivery services rendered to customer. 15 - Borrowed Php 10,000 from BDO signing a promissory note. 22 - Paid creditors on account, Php 5,000. 25 - The owner withdrew cash for his personal use, Php 3,000. 31 - Paid half of the notes payable.  
    15. 15. DATE DESCRIPTION DEBIT CREDITP/R GENERAL JOURNAL 2010 Aug. 8 Office Equipment-Computer 25000 Accounts Payable Purchased computer on account 25000 11 Cash 10000 Delivery Fees 10000 Received cash from customer for the services rendered 15 Cash 10000 Notes Payable -BDO Borrowed money from the bank with promissory note 10000 Page 2
    16. 16. DATE DESCRIPTION DEBIT CREDITP/R GENERAL JOURNAL 2010 Aug. 22 Accounts Payable 5000 Cash Paid creditors on account 5000 25 Owner’s Drawing 3000 Cash 3000 Owner’s withdrawal 31 Cash 5000 Notes Payable -BDO Partial payment for bank loan 5000 Page 3
    17. 17. Thank you for viewing my mom’s site . Hope you learn a lot. God Bless you all! Click to edit Master text styles Second level ● Third level ● Fourth level ● Fifth level
    18. 18. ”Let the main object... to seek and to find a method of instruction, by which teachers may teach less, but learners learn more”. John Amos Comenius Thank You.......

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