Lesson 9 1
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This document provides instructions for journalizing purchases using a purchases journal in accounting. It explains that a purchases journal is a special journal used to record purchases of merchandise on account from vendors. It demonstrates how to record purchase transactions in a purchases journal, including writing the date, vendor name, invoice number, and amount. It also shows how to total the amounts column and rule lines at the end of the journal entries. Key terms related to purchases and accounting for merchandising businesses are reviewed.
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Lesson 10 1
This document discusses journalizing sales on account using a sales journal. It explains how to record sales transactions, including merchandise sold on account, sales tax amounts, and how to complete a sales invoice. The sales journal is used to record the date of the sale, customer name, invoice number, total and sales amounts, and sales tax for transactions where merchandise is sold to a customer on credit.
Lesson 9 2
This document provides instructions and examples for journalizing cash payments using a cash payments journal. It explains how to record payments of expenses, purchases of supplies, merchandise purchases, and payments on account. Examples show recording the date, account title, check number, debit amount, and credit amount for each transaction. Key terms covered are the cash payments journal, cash discounts, purchase discounts, and contra accounts.
Lesson 9 4
This document provides instructions and examples for journalizing transactions related to purchases using a general journal. It includes an example of buying supplies on account, outlining the steps to record the debit to Supplies and credit to the vendor account. Another example shows how to record the return of merchandise to a vendor by debiting Purchases Returns and Allowances and crediting the vendor. Key terms reviewed are purchases return, purchases allowance, and debit memorandum.
Lesson 11 1
This document provides instructions for posting transactions to an accounts payable ledger. It explains how to record purchases, cash payments, and journal entries in the ledger. It also shows how to prove the accuracy of the ledger by ensuring debits equal credits. Maintaining an accounts payable ledger is important for tracking amounts owed to vendors and reconciling with the general ledger.
Section 1
The document summarizes key aspects of the accounting cycle and special journals. It outlines the 9 steps of the accounting cycle, including analyzing transactions, journalizing, posting to ledgers, preparing trial balances, adjusting entries, closing entries, and financial statements. It describes subsidiary ledgers for accounts receivable and payable. Finally, it discusses the uses of special journals like sales, purchases, cash receipts and cash payments journals.
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This document discusses the methods of calculating purchase consideration for amalgamation, absorption, and reconstruction. It outlines the net asset method, intrinsic value method, and net payment method. It also describes the conditions for an amalgamation to be considered a merger and provides details on the accounting entries for both the vendor and purchasing companies. Key points covered include calculating reduction in purchase consideration for inter-company shareholdings, treatment of reserves, and adjustments needed for unrealized profits.
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This document provides instructions for journalizing three common accounting transactions:
1) Paid cash for insurance, debiting the Insurance Expense account and crediting the Cash account.
2) Bought supplies on account, debiting the Supplies account and crediting the Accounts Payable account.
3) Paid cash on account to a supplier, debiting the Accounts Payable account and crediting the Cash account.
Steps are outlined for recording each transaction in the general journal, including filling in dates, debit/credit amounts, and document numbers.
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Lesson 10 1
This document discusses journalizing sales on account using a sales journal. It explains how to record sales transactions, including merchandise sold on account, sales tax amounts, and how to complete a sales invoice. The sales journal is used to record the date of the sale, customer name, invoice number, total and sales amounts, and sales tax for transactions where merchandise is sold to a customer on credit.
Lesson 9 2
This document provides instructions and examples for journalizing cash payments using a cash payments journal. It explains how to record payments of expenses, purchases of supplies, merchandise purchases, and payments on account. Examples show recording the date, account title, check number, debit amount, and credit amount for each transaction. Key terms covered are the cash payments journal, cash discounts, purchase discounts, and contra accounts.
Lesson 9 4
This document provides instructions and examples for journalizing transactions related to purchases using a general journal. It includes an example of buying supplies on account, outlining the steps to record the debit to Supplies and credit to the vendor account. Another example shows how to record the return of merchandise to a vendor by debiting Purchases Returns and Allowances and crediting the vendor. Key terms reviewed are purchases return, purchases allowance, and debit memorandum.
Lesson 11 1
This document provides instructions for posting transactions to an accounts payable ledger. It explains how to record purchases, cash payments, and journal entries in the ledger. It also shows how to prove the accuracy of the ledger by ensuring debits equal credits. Maintaining an accounts payable ledger is important for tracking amounts owed to vendors and reconciling with the general ledger.
Section 1
The document summarizes key aspects of the accounting cycle and special journals. It outlines the 9 steps of the accounting cycle, including analyzing transactions, journalizing, posting to ledgers, preparing trial balances, adjusting entries, closing entries, and financial statements. It describes subsidiary ledgers for accounts receivable and payable. Finally, it discusses the uses of special journals like sales, purchases, cash receipts and cash payments journals.
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This document discusses the methods of calculating purchase consideration for amalgamation, absorption, and reconstruction. It outlines the net asset method, intrinsic value method, and net payment method. It also describes the conditions for an amalgamation to be considered a merger and provides details on the accounting entries for both the vendor and purchasing companies. Key points covered include calculating reduction in purchase consideration for inter-company shareholdings, treatment of reserves, and adjustments needed for unrealized profits.
Lesson 3 2
This document provides instructions for journalizing three common accounting transactions:
1) Paid cash for insurance, debiting the Insurance Expense account and crediting the Cash account.
2) Bought supplies on account, debiting the Supplies account and crediting the Accounts Payable account.
3) Paid cash on account to a supplier, debiting the Accounts Payable account and crediting the Cash account.
Steps are outlined for recording each transaction in the general journal, including filling in dates, debit/credit amounts, and document numbers.
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This document provides instructions for journalizing transactions that affect owner's equity and involve receiving or paying cash. It includes examples of receiving cash from sales, selling services on account, paying cash for an expense, receiving cash on account, and paying cash to the owner for personal use. For each transaction, it lists the steps to record the date, debit and credit amounts, account titles, and source document number in the journal.
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This document provides instructions for posting transactions to an accounts receivable ledger from source documents like sales journals, cash receipts journals, and general journals. It explains how to record the date, journal page number, debit or credit amount, and customer number for each transaction. Samples are given for making postings from each source document type. The completed accounts receivable ledger is shown, along with the process for proving it. Key terms like schedule of accounts receivable are defined.
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Lesson 10 3
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This document provides instructions for various petty cash and cash payments journal operations, including:
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2) The steps for replenishing a petty cash fund using a check, including recording expense accounts and adjusting cash balances.
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Journalizing Purchases and Using Purchases Journal
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Personalization Strategies: We discussed how to leverage data and insights to create personalized experiences that resonate with customers.
Technology Integration: Insights were shared on how inQuba’s advanced technology can streamline customer interactions and drive operational efficiency.
Northern Engraving | Nameplate Manufacturing Process - 2024
Manufacturing custom quality metal nameplates and badges involves several standard operations. Processes include sheet prep, lithography, screening, coating, punch press and inspection. All decoration is completed in the flat sheet with adhesive and tooling operations following. The possibilities for creating unique durable nameplates are endless. How will you create your brand identity? We can help!
GlobalLogic Java Community Webinar #18 “How to Improve Web Application Perfor...
Під час доповіді відповімо на питання, навіщо потрібно підвищувати продуктивність аплікації і які є найефективніші способи для цього. А також поговоримо про те, що таке кеш, які його види бувають та, основне — як знайти performance bottleneck?
Відео та деталі заходу: https://bit.ly/45tILxj
Discover the Unseen: Tailored Recommendation of Unwatched Content
The session shares how JioCinema approaches ""watch discounting."" This capability ensures that if a user watched a certain amount of a show/movie, the platform no longer recommends that particular content to the user. Flawless operation of this feature promotes the discover of new content, improving the overall user experience.
JioCinema is an Indian over-the-top media streaming service owned by Viacom18.
A Deep Dive into ScyllaDB's Architecture
This talk will cover ScyllaDB Architecture from the cluster-level view and zoom in on data distribution and internal node architecture. In the process, we will learn the secret sauce used to get ScyllaDB's high availability and superior performance. We will also touch on the upcoming changes to ScyllaDB architecture, moving to strongly consistent metadata and tablets.
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
Tomaz Bratanic
Graph ML and GenAI Expert - Neo4j
AI in the Workplace Reskilling, Upskilling, and Future Work.pptx
Discover how AI is transforming the workplace and learn strategies for reskilling and upskilling employees to stay ahead. This comprehensive guide covers the impact of AI on jobs, essential skills for the future, and successful case studies from industry leaders. Embrace AI-driven changes, foster continuous learning, and build a future-ready workforce.
Read More - https://bit.ly/3VKly70
Astute Business Solutions | Oracle Cloud Partner |
Your goto partner for Oracle Cloud, PeopleSoft, E-Business Suite, and Ellucian Banner. We are a firm specialized in managed services and consulting.
GNSS spoofing via SDR (Criptored Talks 2024)
In the realm of cybersecurity, offensive security practices act as a critical shield. By simulating real-world attacks in a controlled environment, these techniques expose vulnerabilities before malicious actors can exploit them. This proactive approach allows manufacturers to identify and fix weaknesses, significantly enhancing system security.
This presentation delves into the development of a system designed to mimic Galileo's Open Service signal using software-defined radio (SDR) technology. We'll begin with a foundational overview of both Global Navigation Satellite Systems (GNSS) and the intricacies of digital signal processing.
The presentation culminates in a live demonstration. We'll showcase the manipulation of Galileo's Open Service pilot signal, simulating an attack on various software and hardware systems. This practical demonstration serves to highlight the potential consequences of unaddressed vulnerabilities, emphasizing the importance of offensive security practices in safeguarding critical infrastructure.
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Lesson 9 1
- 1. LESSON 9-1 Journalizing Purchases Using a Purchases Journal CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
- 2. 2 PURCHASING MERCHANDISE CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 236 LESSON 9-1
- 3. 3 PURCHASES ON ACCOUNT CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 236 LESSON 9-1
- 4. 4 PURCHASES JOURNAL CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning page 237 LESSON 9-1
- 5. 5 PURCHASE INVOICE page 238 1 4 2 3 1. Stamp the date received and purchase invoice number. 3. Initials of the person who checked the invoice. 2. Place a check mark by each amount. 4. Review the vendor’s terms. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1
- 6. PURCHASING MERCHANDISE ON ACCOUNT 6 page 239 November 2. Purchased merchandise on account from Crown Distributing, $2,039.00. Purchase Invoice No. 83. 2 1 1. 2. 3. 4. 3 4 Write the date. Write the vendor name. Write the purchase invoice number. Write the amount of the invoice. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1
- 7. 7 TOTALING AND RULING A PURCHASES JOURNAL page 240 1 2 4 3 1. Rule a single line across the amount column. 2. Write the date. 3. Write the word Total. 4. Add the amount column. 5. Write the total. 6. Rule double lines across the amount column. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1 5 6
- 8. 8 TERMS REVIEW merchandise merchandising business retail merchandising business wholesale merchandising business corporation share of stock capital stock stockholder page 241 special journal cost of merchandise markup vendor purchase on account purchases journal special amount column purchase invoice terms of sale CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 9-1
Editor's Notes
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