Posting from aGeneral Journal to a

General Ledger

Accounting I

Chapter 4, Section 2

Posting

Transferring information from a journal entry to a ledger account.

Five steps: Write the date Write the journal page number Write the amount Write the new account balance Write account number on journal page

Posting Reference

Three Purposes of Post. Ref.

Trace back to journal

Trace to account in ledger

See which entries still need to be posted

5

4

321

1. Write the date.

2. Write journal page number.

3. Write the debit amount.

4. Write new account balance.

5. Write the account number in the Post. Ref. column of the journal.

Posting a Debit Amount

1. Write the date.

5

4

3

2. Write the journal page number.3. Write the credit amount.4. Write the new account balance.5. Write the account number in the Post. Ref.

column of the journal.

21

Posting a Credit Amount

1. Write the date.

2. Write the journal page number.

3. Write the debit amount.

4. Write the new account balance.

5. Write the account number in the Post. Ref. column of the journal.

5

4

321

Posting an Amount in an Account with a Balance

Calculating Account Balances If first line posted, balance will be equal to

amount Previous balance = 0.00 First entry amount = Debit 10,000.00 Balance = Debit 10,000.00

If previous balance and new amount are on the same side, add to calculate new balance Previous balance = Debit 1,700.00 New Amount = Debit 300.00 New Balance = Debit 2,000.00

Calculating Account Balances

If previous balance and new amount are on opposite sides, subtract to calculate new balance Previous balance = Debit 1,000.00 New Amount = Credit 200.00 New Balance = Debit 800.00

Problems

Work Together 4-2 (Textbook pg. 101)

On Your Own 4-2 (Textbook pg. 101)

Application 4-2 (Textbook pg. 110)