LESSON 4-3. Posting Column Totals from a Journal to a General Ledger. Objectives for today…. In this lesson, we will post the totals of the special amount columns. This lesson is about posting journal column totals. Why are journal columns totaled? To prove equality of debits and credits.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Posting Column Totalsfrom a Journal to aGeneral Ledger
In this lesson, we will post the totals of the special amount columns.
The type of journal amount column an amount is recorded in determines how that amount is posted to the general ledger.
The amounts in the special amount columns are posted as part of the total of the amount column
Posting totals saves time and reduces errors because only the total of many of the same kinds of transactions must be posted, as opposed to posting each amount each time a frequently occurring transaction is journalized.
Here are the five steps for posting the total of the sales credit column.
Whenever the debits in an account exceed the credits, the account balance is a debit.
Whenever the credits in an account exceed the debits, the account balance is a credit.
4-3 WORK TOGETHER AND ON YOUR OWN
4-3 APPLICATION PROBLEM