I nternal Controls Accounting, 21 st Edition Warren Reeve Fess PowerPoint Presentation by Douglas Cloud Professor Emeritus of Accounting Pepperdine University Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved. Task Force Image Gallery clip art included in this electronic presentation is used with the permission of NVTech Inc. Basic Accounting System Implementation Design Analysis Tujuan Internal Control 1. Keamanan Assets perusahaan dan penggunaannya dalam kegiatan perusahaan 2. Menyediakan informasi akuntansi yang akurat 3. Menjamin ditaatinya peraturan dan kebijakan perusahaan oleh para karyawannya. 1. Control environment/Lingkungan Pegendalian 2. Risk assessment/Resiko Pengendalian 3. Control procedures/Prosedur 4. Monitoring/Pengawasan 5. Information and communication
Elements of Internal Control Manual Accounting Systems Cash 11 Accts. Pay. 21 General Ledger Accts. Rec. 12 Supplies 14 General Ledger and Subsidiary Ledgers Accounts Receivable Subsidiary Ledger A B C D Customer Accounts Accounts Payable Subsidiary Ledger A B C D Creditor Accounts BUYING SELLING Special J ournals Providing services on account Revenue journal recorded in Receipt of cash from any source Cash receipts journal recorded in Purchase of items on account Purchases journal recorded in Payment of cash for any purpose Cash payments journal recorded in Mencatat Pendapatan secara kredit Jurnal ini untuk apa ? Account Receivable bertambah Fees Earned bertambah Sediakan satu kolom untuk mencatat penambahan Account Receivable Sediakan satu kolom untuk mencatat penambahan Pendapatan The Revenue Journal Semua Penjualan Barang/Jasa Secara Kredit harus dicatat dlam jurnal ini Revenue Journal Invoice Post Account Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 Performed services on credit to MyMusic.com, $2,200. 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 The Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 Notice that only one line is required to make the entry. 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 The Revenue Journal Posting from the Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 To update the MyMusicClub.com account, the $2,200 debit is posted to the accounts receivable subsidiary ledger. 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 Accounts Receivable Subsidiary Ledger Date Item P.R. Debit Credit Balance MyMusicClub.com
Mar. 2 R35 2,200 2,200 2006 Posting from the Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 1 2 3 4 5 6 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 Accounts Receivable Subsidiary Ledger Date Item P.R. Debit Credit Balance MyMusicClub.com
Mar. 2 R35 2,200 2,200 2006 This procedure is repeated for each posting to the accounts receivable subsidiary ledger. Posting from the Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 2003 1 2 3 4 5 6 Assume that similar entries were journalized and posted during the month of March. Mar. 2 615 MyMusicClub.com 2 2 0 0 00 6 616 RapZone.com 1 7 5 0 00 18 617 Web Cantina 2 6 5 0 00 27 618 MyMusicClub.com 3 0 0 0 00 2006 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 Posting from the Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 2006 1 2 3 4 5 6 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 6 616 RapZone.com 1 7 5 0 00 18 617 Web Cantina 2 6 5 0 00 27 618 MyMusicClub.com 3 0 0 0 00 On March 31, the revenue journal is totaled and ruled. 31 9 6 0 0 00 Posting from the Revenue Journal Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 2006 1 2 3 4 5 6 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 6 616 RapZone.com 1 7 5 0 00 18 617 Web Cantina 2 6 5 0 00 27 618 MyMusicClub.com 3 0 0 0 00 Next, the revenue journals total ($9,600) is posted to the general ledger. 31 9 6 0 0 00 Posting the Revenue Journal Total ACCOUNT Accounts Receivable Account No. 12 Balance Dr. Cr. Date Dr. Cr. Item Post. Ref. 2006 Mar. 1 Balance 3 400 00 GENERAL LEDGER 31 9 600 00 13 000 00 R35 Revenue Journal, page 35 Posting the Revenue Journal Total By placing the account number here, we indicate that $9,600 has been debited to Accounts Receivable in the general ledger. Posting the Revenue Journal Total Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 2006 1 2 3 4 5 6 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 6 616 RapZone.com 1 7 5 0 00 18 617 Web Cantina 2 6 5 0 00 27 618 MyMusicClub.com 3 0 0 0 00 31 9 6 0 0 00 (12)(41) ACCOUNT Fees Earned Account No. 41 Balance Dr. Cr. Date Dr. Cr. Item Post. Ref. GENERAL LEDGER 2006 Mar. 31 R35 9 600 00 9 600 00 Posting the Revenue Journal Total Revenue Journal Invoice Post Accts. Rec. Debit Date No. Account Debited Ref. Fees Earned Credit Page 35 1 2 3 4 5 6 2006 1 2 3 4 5 6 Mar. 2 615 MyMusicClub.com 2 2 0 0 00 6 616 RapZone.com 1 7 5 0 00 18 617 Web Cantina 2 6 5 0 00 27 618 MyMusicClub.com 3 0 0 0 00 31 9 6 0 0 00 (12)(41) Placing 41 here indicates that $9,600 has been posted to the credit side of Fees Earned in the general ledger. Posting the Revenue Journal Total The Cash Receipts J ournal Semua transaksi penerimaan kas akan dicatat pada cash receipts journal. The Cash Receipts Journal Cara merancang Jurnal Penerimaan Kas Mencatat Penerimaan kas Jurnal ini untuk apa ? Kas bertambah (debit) Account yang dikredit apa? Sediakan satu kolom untuk mencatat penambahan Kas Dari Piutang Sediakan kolom Account Receivable Dari Pendapatan Sediakan kolom Fees Earned Dari Lainnya Sediakan kolom Other Account Mar. 1 Rent Revenue 400 400
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 NetSolutions received $400 cash on March 1 for the months rent. The Cash Receipts Journal 2006 Mar. 1 Rent Revenue 400 400
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. During March, NetSolutions collected cash from three customers. 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750
The Cash Receipts Journal Page 14 2006 Each account under Accounts Receivable Cr. is posted to the accounts receivable subsidiary ledger. Posting the Cash Receipts Journal Mar. 1 Rent Revenue 400 400
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750
Page 14 2006 Mar. 1 Rent Revenue 400 400
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750
Accounts Receivable Subsidiary Ledger Date Item P.R. Debit Credit Balance Web Cantina
Mar. 1 Bal. 3,400 18 R35 2,650 6,050 2006 3,400 2,650 Posting the Cash Receipts Journal 2006 19 Mar. 1 Rent Revenue 400 400
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750
Posting the Cash Receipts Journal Accounts Receivable Subsidiary Ledger Date Item P.R. Debit Credit Balance Web Cantina
The Cash Receipts Journal Setelah semua transaksi di jurnal dan diposting ke subsidiary ledger, jumlahkan semua kolom Dr dan Cr The Cash Receipts Journal Mar. 1 Rent Revenue 400 400 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750 31 400 7,350 7,750
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 2006 The total Cash Dr. column equals the total of the two credit columns. Mar. 1 Rent Revenue 400 400 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750 31 400 7,350 7,750
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 Posting the Cash Receipts Journal The three circled items are posted to the general ledger. Lets post Accounts Receivable. 2006 Account: Accounts Receivable No. 12 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 3,400 31 R35 9,600 13,000 2006 Mar. 1 Rent Revenue 400 400 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750 31 400 7,350 7,750
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 Posting the Cash Receipts Journal 2006 Account: Accounts Receivable No. 12 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 3,400 31 R35 9,600 13,000 2006 7,350 5,650 31 CR14 Mar. 1 Rent Revenue 400 400 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750 31 400 7,350 7,750
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 Posting the Cash Receipts Journal 2006 ( ) (12)
Posting the Cash Receipts Journal The $7,750 total in the Cash Debit column is posted to Cash in a similar manner. Posting the Cash Receipts Journal The $400 credit to Rent Revenue could have been posted earlier, but posting it at the same time as other general ledger accounts is proper. Posting the Cash Receipts Journal A completely posted cash receipts journal is shown in the next slide. Mar. 1 Rent Revenue 400 400 19 Web Cantina 3,400 3,400 28 MyMusicClub.com 2,200 2,200 30 RapZone.com 1,750 1,750 31 400 7,350 7,750
CASH RECEIPTS JOURNAL Other Accounts Post Accounts Receivable Cash Date Account Credited Ref. Cr. Cr. Dr. Page 14 Posted Cash Receipts Journal 42 ( ) (12) (11) 2006
Accounts Receivable Control Account If the accounts receivable account in the general ledger only shows summary totals, where are the individual customer balances? ACCOUNT Accounts Receivable No. 12 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 3,400 31 R35 9,600 13,000 7,350 5,650 31 CR14
Accounts Receivable Subsidiary Ledger Accounts Receivable Control Account MyMusicClub.com ACCOUNT Accounts Receivable No. 12 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 3,400 31 R35 9,600 13,000 7,350 5,650 31 CR14
The purchases journal untuk mencatat pembelian secara kredit Cara merancang Jurnal Pembelian Mencatat Pembelian secara kredit Jurnal ini untuk apa ? Account Payable (K) Account yang didebit apa? Tergantung apa yang dibeli Sediakan satu kolom untuk mencatat penambahan Hutang Sediakan kolom Supplies Beli Supplies Beli Aktiva Lain Sediakan kolom Other On March 3, 2003, NetSolutions purchased supplies from Howard Supplies, $600. Journalizing in the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 To keep the accounts payable subsidiary ledger current, this entry is posted on March 3. Mar. 3 Howard Supplies 600 600 2006 Accounts Payable Subsidiary Ledger Date Item P.R. Dr. Cr. Balance Howard Supplies
Mar 3 600 600 2006 Posting the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Accounts Payable and Supplies will be posted as totals. Mar. 3 Howard Supplies 600 600 2006 Posting the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 On March 7, NetSolutions purchased supplies from Donnelly Supplies, $420. Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 Journalizing in the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006
7 Donnelly Supplies 420 420 Journalizing in the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006
On March 12, NetSolutions purchased office equipment from Jewett Business Systems, $2,800. 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 Because there isnt a special column for Office Equipment, this purchase was recorded under Other Accounts Dr. Journalizing in the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 Now, lets look at the rest of Marchs entries (assume that all postings to the accounts payable subsidiary ledger have been made). 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 Journalizing in the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 At the end of March, all columns are totaled and equality of debits and credits is verified. Totaling the Purchases Journal 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 $6,230 = $3,430 + $ 2,800 The next step is to post to the general journal. PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 Posting the Purchases Journal PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 ACCOUNT Accounts Payable No. 21 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 1,230 6,230 7,460 31 P11 PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2003 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 ACCOUNT Accounts Payable No. 21 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 1,230 6,230 7,460 31 P11 (21) PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2003 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 (21) Supplies is posted as a total of $3,430 to general ledger account 21. Office Equipment is posted individually. (14) 18 PURCHASES JOURNAL Accts. Other Post Payable Supplies Accounts Post Date Account Credited Ref. Cr. Dr. Dr. Ref. Amount Page 11 Mar. 3 Howard Supplies 600 600 2006 7 Donnelly Supplies 420 420 12 Jewett Bus. Sys. 2,800 Off. Equip. 2,800 19 Donnelly Supplies 1,450 1,450 27 Howard Supplies 960 960 31 6,230 3,430 2,800 (21) (14) 18 ( ) NetSolutions had only one entry in the Other Accounts Dr. column. If there were others, they would be posted individually. Therefore, the total is not posted. A check mark indicates that the total was not posted. The Cash Payments J ournal Cara merancang Jurnal Pengeluaran Kas Mencatat Pengeluaran Kas Jurnal ini untuk apa ? Kas berkurang (Kredit) Account yang didebit apa? Tergantung untuk apa yang dibayar Sediakan satu kolom untuk mencatat pengeluaran Kas Bayar hutang Sediakan kolom Account Payable Bayar lain-lain Sediakan kolom Other Account CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 2, NetSolutions paid the rent for March by issuing Check No. 150 for $1,600. 2006 Mar. 2 150 Rent Expense 1,600 1,600 CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 15, issued Check No. 151 to Grayco Supplies on account, $1,230. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 Lets post to the accounts payable subsidiary ledger at this time to keep the creditors account current. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 Accounts Payable Subsidiary Ledger Grayco Supplies Mar. 3 Bal. 1,230
Date Item P.R. Dr. Cr. Balance 1,230 --- 15 CP7
CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 21, issued Check No. 152 as payment on account to Jewett Business Systems, $2,800. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800
CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 22, issued Check No. 153 as payment on account to Donnelly Supplies, $420. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420
CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 30, issued Check No. 154 as payment for utility bill, $1,050. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050
CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 On March 31, issued Check No. 155 on account to Howard Supplies, $600 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050 31 155 Howard Supplies 600 600
CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 The journal is ruled, summed, and verified for equality of debits and the Cash Cr. column. 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050 31 155 Howard Supplies 600 600 31 2,650 5,050 7,700
Individual items in the Other Accounts Dr. column are posted. Then the totals for Accounts Payable Dr. and Cash Cr. are posted. CASH PAYMENTS JOURNAL Other Accounts Ck. Post Accounts Payable Cash Date No. Account Debited Ref. Dr. Dr. Cr PAGE 7 2006 Mar. 2 150 Rent Expense 1,600 1,600 15 151 Grayco Supplies 1,230 1,230 21 152 Jewett Business Sys. 2,800 2,800 22 153 Donnelly Supplies. 420 420 30 154 Utilities Expense 1,050 1,050 31 155 Howard Supplies 600 600 31 2,650 5,050 7,700 (21) (11) 52 54
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Accounts Payable Accounts Payable Control Donnelly Supplies Date Item P.R. Debit Credit Balance Grayco Supplies Date Item P.R. Debit Credit Balance Howard Supplies Date Item P.R. Debit Credit Balance Mar 2 P11 420 420 19 P11 1,450 1,870 22 CP7 420 1,450 Accounts Payable Subsidiary Ledger Accounts Payable (Controlling) ACCOUNT Accounts Payable No. 12 GENERAL LEDGER Date Item P.R. Debit Credit Balance Mar. 1 Bal 1,230 31 P11 6,230 7,460 31 CP7 5,050 2,410 Mar 1 Bal. 1,230 15 CP7 1,230 0 - -
Mar 3 P11 600 600 27 P11 960 1,560 31 CP7 600 960 Jewett Business Systems also has a zero balance, so that account was omitted for space reasons. Advantages of a Computerized Accounting System Over a Manual Accounting System 1. Computerized systems simplify the record- keeping process. 2. Computerized systems are generally more accurate. 3. Computerized systems provide management current account balance information to support decision making. The End Chapter 5