Special Journals: Purchases and Cash Payments Chapter 17.
-
Upload
mark-reynolds -
Category
Documents
-
view
252 -
download
4
Transcript of Special Journals: Purchases and Cash Payments Chapter 17.
![Page 1: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/1.jpg)
Special Journals: Purchases and Cash Payments
Chapter 17
![Page 2: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/2.jpg)
Using the Purchases Journal• Purchases journal is for recording purchases on
account. (Not just merchandise but anything on account)
• Enter date the invoice was received not the date it was prepared
Pg 482
![Page 3: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/3.jpg)
Purchases ofMerchandiseOn account
Purchases of Non MerchandiseOn account
Pgs 483-484
![Page 4: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/4.jpg)
Posting Merchandise
Posting Non-Merchandise
Pgs 485-486
![Page 5: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/5.jpg)
Proving and RulingSpecial Amount Columns
Posting Column Totals
Pgs 486-487
![Page 6: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/6.jpg)
Using the Cash Payments Journal
• The cash payments journal is used to record all transactions in which cash is paid out or decreased.
Pg 489
![Page 7: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/7.jpg)
Cash Payment for Prepaid Insurance
Cash Payment for Purchases
Cash Payment on Account Payable
Pgs 490-491
![Page 8: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/8.jpg)
Cash Payment for TransportationIn
Cash Paid for Salaries
Cash Payment ofMiscellaneous Expenses such as Bank service charges
Pgs 492-493
![Page 9: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/9.jpg)
Cash Payment of Bank Card Fees
Pg 494
![Page 10: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/10.jpg)
Posting Payment to an AccountsPayable
Posting Transactions From the General Column
Accounts payable payments and payments to accounts journalized in the general column are posted individually on a daily basis.
Pgs 495, 497
![Page 11: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/11.jpg)
Proving and Ruling the Cash Payments Journal
Pg 498
![Page 12: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/12.jpg)
Posting Column Totals of the Cash Payments Journal
Prove and rule the journal Once debits and credits equal
General Column TotalsDon’t get posted.
Totals are posted onceA month
Pg 499
![Page 13: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/13.jpg)
Schedule of Accounts Payable• Used to make sure that the amount in the
controlling account, Accounts Payable, it the same as the account totals in the Subsidiary Ledger.
Pg 500
![Page 14: Special Journals: Purchases and Cash Payments Chapter 17.](https://reader033.fdocuments.net/reader033/viewer/2022061612/56649ef05503460f94c0005c/html5/thumbnails/14.jpg)
Proving Cash
• Proving Cash is the process of verifying that cash recorded in the accounting records (cash ledger) agrees with the amount in the checkbook (check stub).
Pg 501