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Journalizing Transactions. Chapter 4. Rule of Thumb. If you enter a number in the general amount column then a account title has to be entered also. SOURCE DOCUMENTS. DEF - A business paper from which information is obtained for a journal entry

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Presentation Transcript
rule of thumb
Rule of Thumb
  • If you enter a number in the general amount column then a account title has to be entered also.
source documents
SOURCE DOCUMENTS
  • DEF - A business paper from which information is obtained for a journal entry
  • Checks - a form for ordering a bank to pay cash . C1, C2 etc. . . . . .
  • Calculator Tapes - tapes from the cash register used to record sales for the day or the week. T1,T12 etc. . . . . .
source documents con t
SOURCE DOCUMENTS CON’T
  • Receipts - a form giving written acknowledgement for cash received. R1,R2,R3 etc. . . . .
  • Memorandums - a form which gives a brief message describing the transaction. M34, M45 etc. . . . . .
transactions
Transactions

August 1, 2000 Received cash from owner as an investment

$10,000. Receipt No. 1

Cash

Ben Furman,Cap

10000

10000

slide9

1

Aug

R1

Cash

10000

10000

Barbara Trevino’, Capital

transactions1
Transactions

August 3, 2000 Paid cash for supplies $1,577. Check No. 1

Cash

Supplies

1577

1577

slide11

1

Aug

R1

Cash

10000

10000

Barbara Trevino’, Capital

3

Supplies

C1

1577

Cash

1577

transactions2
Transactions

August 4, 2000 paid cash for insurance $1200 Check No. 2

Cash

Prepaid Insurance

1200

1200

slide15

1

Aug

R1

Cash

10000

10000

Barbara Trevino’, Capital

3

Supplies

C1

1577

Cash

1577

4

Prepaid Insurance

C2

1200

Cash

1200

transactions3
Transactions

August 7, 2000 Bought supplies on account from Butler

Cleaning Supplies, $2720. Memorandum

Supplies

Butler Cleaning supplies

2720

2720

slide17

1

Aug

R1

Cash

10000

10000

Barbara Trevino’, Capital

3

Supplies

C1

1577

Cash

1577

4

Prepaid Insurance

C2

1200

Cash

1200

7

M1

Supplies

2720

2720

Acct Pay- Butler Cleaning Supplies

transactions4
Transactions

August 11, 2000 Paid cash on account to Butler Cleaning Supply

$1360 Check No 3

Cash

Butler Cleaning Supply

1360

1360

transactions5
Transactions

August 12, 2000 Received cash form sales $525 Tape No

Cash

Sales

525

525

transactions6
Transactions

August 12, 2000 Paid cash for Rent $250 Check No 4

Cash

Rent Expense

250

250

transactions7
Transactions

August 13, 2000 Paid cash to owner for personal use $100

check No 6

Cash

Ben Furman, Drawing

100

100

standard accounting practices
Standard Accounting practices
  • Please look at the rules that apply on page 84
problems for this chapter
Problems for this chapter
  • On your own page 81
  • Problems 4-1,2,3,4,5,6
  • Next class We will do the first computer problem together…..Computer problem 4-5
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