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Corraicet © Sour: Western Cen 68 + Working PopersAPPLICATION PROBLEMS (concluded) GENERAL LEDGER accor Alta Komoko, Capital _ account no. 310 “pe CUIUTERREE aaa an accor Alta Komoko, Drawing, necounr wo, 320 on mo sl [ee Pasa “erbi 1 Ppeh PE 1 Cy accounr Sales account no, 410 " co ‘caeoT 1 sccounr Advertising Expense accounr no. 510, EL : Sri 70 + Working Papers Copraicht © SOUTHWESTERN CENGAGE LEARNINGNone Etnse S 5 — Dale Class APPLICATION PROBLEMS (continued) GENERAL LEDGER secounr Cash : sccounrne, 110 ( [25 - — 1 sccounr Accounts Receivable—Melanie Ford sceounrno 120 vow wer] cer | encom | Se Nee rT 1 7 15\~ 7|5\~ sccounr Supplies sceownrne. 130 aa [REE account Prepaid Insurance sccounr Accounts Payable—Bay Bridge Supply _ : sccounrno, 210 (Ce fie | Gig- lalef- ay \ \- se Chopler 4 Fosting to « General Ledger * 69ca MASTERY PROBLEM, p. 112 f aw g Joumalizing transactions and posting to @ general ledger qnis spayp pasnun yxou ayy uo aouejeq YoogyP=Y.) +++ yquoUr ay Jo pua ayy ye aourefeq seo syonby SN quo an Sep ped pen ssrt SESE) o . “> yey spmby = —oaRs yuoar ayy SuyMp paarsax Yse [101 SMT — gywyoy uaurIO> yputour ayy Jo Summu!Baq ayy ye Pury uO Yse> pa 1509 201g" sect sya, wun se Sey wae oo seo, seem wd oa aR SRS sare, jew, uunjo9 sqousnol ayy aod *g Teo 0 Py mR FRIIS LIM sascha Z Ss ¢ tas; 1 Te TWNaNOr HT © SOUTHWESTERN CENGAGE LEARNING Corr 72 + Working PapersName _ ee _ Date — Class —__ 4-5 | MASTERY PROBLEM (continued) GENERAL LEDGER: secounr Cash, _ sccour no 110 on ve ze ] wow ee oom [30 {falafel giids ie | 0 OD Zj2epi- [6 Klape = seeourr Accounts Receivable—Merilda Domingo - ___sccouner no. 120 TT ome vem vost. oesir coneorr — re [6 \| bk Agg [ (06) t t 3fO|~ sccounr Supplies: account no. 130 ds is | HbpE (3 \ Pla fol- bs] 1) Web n ) (ep [ accounr Accounts Payable—Park Supplies _ hes |S \ blo Tt [thee Chapter 4 Posting to « General Ledger * 73Ea MASTERY PROBLEM (continued) GENERAL LEDGER accounr Patrick O'Kalla, Capital _heah \ 2 Slop accouwr Patrick O'Kalla, Drawing Wes FA \_| Bobr eel— account Sales account no. 410 J pea 30 3 Riel shblepl- y | fee ee accour Advertising Expense accounr no. 510 chs \ | (hb | tA I 74 + Working Papers * Copraicitt © SOUTHWESTERN CENGAGE LEARNINGName Dote Class —__ Kai MASTERY PROBLEM (concluded) GENERAL LEDGER: _sccourr Miscellaneous Expense ee TM I Glof- 4] | Rent Expense sccouvr no 530 = ia T hs ~ CRBRELTETCLRPPEL TTL T =] o m=[ [= Pose 4 | Chapter 4 Posting to a General Ledger * 754 TESTA mane FO Se “Analyang Accounting Concepts and Procedures | an Pix n 0 P| soe | Preparing a Chart of Accounts | 37 pts. Posty loa Gow Legar [ar Fe, “Avaiyzing Posting Procedures | 10 Pts Total | 774 Ps Part One—Analyzing Accounting Concepts and Procedures Directions: Place aT for True or an F for False in the Answers column to show whether each of the following statements is true or false 1. A journal shows in one place all the changes ina single account. 2 Account numbers may be assigned by 10s so that new accounts can be added easily 3. Th procedurr of arranging accounts in a yeneral ledge, assigning account numbers, and keeping records current is posting. 4. Tfa business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120. 5. A group of accounts is called a ledger. 6 Ajournal page number is written in the Post. Ref. column of an account to show that posting of the entry is completed, 7 {he account number is placed in the Post, Ref. column of the journal as the last step in the posting procedure. 8 Han Previous account balance and the current entry posted to an account are both debits, 8 the new account balance is a debit, 9. The column total of the General Debit column is posted. 10. Only the column totals for special amount columns in a journal are posted 11. The cash account is the first asset account and is numbered 100, 12, When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515, 18. Tike fo steps for opening an account are writing the account ttle and recording the balance, 14, Separate amounts in special amount columns are posted individually. 15. Separate amounts in general amount columns are not posted individually: 16. The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger. 7. The only reason for the Post. Ref. columns of the journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted. 18. The steps for posting are to write the date, journal page number, amount, and balance 19. Acheck mark in is not posted, Parentheses below a General Debit column total indicates that the total 20. With the exception ofthe totals lines, the Post. Ref. column is completely filled in with either an account number or a check mark Chapter 4—Test A © South-Western Cengage Learning Shag Answers 10. uF a fy BE “u_E 6 6 FE _ v Ty 8. — a J gr,Part Two—Preparing a Chart of Accounts \Wittiam James owns a service business called James Catering, which uses the following accounts! A\ Accounts Receivable—Chocotater Divine ty Prepaid-Insuranee— A ry “i Accounts Receivable—Sweet tooth Baker} ‘2 -Advertising Expense A-Gat- |L-Actounte Payablo—Downey-Electronics™ cent Ex QWilisayantes-Smpital Rent Expense sctwnimuniahe 3 * , Si o Réssles Q Wiltiemejomes- Drawing, E Miscellaneous Expense 1. Prepare a chart of accounts. Arrange expense accounts in alphabetical order Ue 3 digit account numbers and number the accounts within a division by 10s, Include general ledger division ttles in the chart of accounts, 2. After the chart of accounts has been completed, two new accounts, Delivery Expense and Accounts Payable—Falcon Bakeries, are tobe added. ‘Assign account mumbers to the two new accounts, James Catering Chart of Accounts (a0) Ras. BOO) Ouines’s ayy [ if en 10 Williams Tau a Z\ he 320 Villian Somes, Cerner Vita nomad e yO. 9 [[ Ian s Me (00) Revenue, wz, 40 “4v\e Eon) eee Linbdlitve E10 ‘lng, 90nd o WP: Cleciscmés 720 Mi FO AP: Creneaia, Waissdoigi Gi) Rawk Capen, 220) he: Malian Snast Part Three—Posting to a General Ledger Directions: 1, Open a general ledger account on the next page for each of the following accounts: 110 Cash 410 Sales 310 William James, Capital 540 Utilities Expense 320 William James, Drawing 2, Post the separate amounts on each line of the journals on the next page that need to be posted individually. 3, Post the journal's special amount column totals. 2 Oy Century 21 Accounting, 9th Edition Chapter 4—Test Afem Fan Of [|e conarf sroF TT aaa ach al [3 [Wutties expense =| _|6) Carried Forward [= Sa [af [20] Wiliam james, Denwing >| [31] Uitte Expense flap E 31] Totals 4 = Et t rey ey Alia To Hf t ENERAL LEDGE} > scour ‘Chet. GENERAL LEDGER sccouwrne. |] i vo et | cer | cee Pe rar} 7 REESE Toe 31 5 accom (i yy Tones ide | sceounrno, 3/05 accor SJ O65 sccourrnal)/()_ Tw ve = >= [= == Hu accor (fh prec Expense account no. SC) Fe zap t Chapter 4—Test A © South-Western Cengage Learning 3Part Four—Analyzing Posting Procedures Directions; For each of the following items, select the choice that best completes the statement. Print the letter identifying your choice in the Answers column. Answers 1. The first digit in the account number 120 means that the account is in the 1. expense division of the general ledger. b, rehonue division ofthe general edger. ©. liability division of the general ledger. 4. asset division of the general ledger. 2. When accounts are arranged in a general ledger, account numbers are assigned, andthe 2. b chart of accounts is kept up to date, the accounting personnel are a. posting, . doing file maintenance. ©. journalizing. 4. none of these. 3. ‘The procedure for transferring information from a journal entry to a ledger account is 3G a. posting. », journalizing, J ¢. file maintenance. 4. none of these. 4. The first step in the posting procedure is writing the 4 entry date in the Date column of the account: bb. journal page number in the Post. Ref. column of the account. c. entry amount in the Debit or Credit column of the account. d. none of these. of 5. The last step in the posting procedure is writing the 5 a. entry date in the Date column of the account. b. journal page number in the Post. Ref. colurin of the account. c. entry amount in the Debit or Credit coltumn of the account. 4. none of these. 6. An account number in the journal's Post. Ref. column shows CH a. the account to which an amount is posted. —— b. the date ofthe entry. ¢. that work on that journal page is completed 4. none of these. 7. Posting references in a journal are 7_C y a. not necessary. b. the first item recorded when posting. . always placed in an account's Post. Ref. column, d, noné of these. 8. If posting is interrupted, the accounting personnel know to resume posting 8 OW a. onthe line with a blank Post. Ref. column in the journal. b. at the beginning of the journal page. «. the next day. d. all of these. 9, If both amounts on a journal line are recorded in special amount columns, 9.5 a. both amounts are posted individually b. only one of the amounts is posted individually . neither amount is posted individually. 4. all of these. 10. Separate amounts in the Sales Credit column of a journal are a. rounded to the nearest dollar. posted frequently. b. posted individually. . none of these. 4 Century 21 Accounting, 9th Edition Chapter 4—Test