13.Ledgers.ppt

1、Unit Thirteen Ledgers,2020/7/9,1,Study targets To define the ledger and posting To describe the formats of ledger To state the relationship between subsidiary accounts in subsidiary ledger and control account in general ledger To describe the steps of posting To post to the general ledger and subsid

2、iary ledger To prepare the charts of account,2020/7/9,2,13.1 Kinds of ledgers 13.1.1 General ledger: contains all of the balance sheet and income statement accounts. It contains a separate account listed in the chart of account.,3,13.1.2 Subsidiary ledger: a large number of individual accounts with

3、a common characteristic can be grouped together in a separate ledger, which is called a subsidiary ledger. Each subsidiary ledger is represented in the general ledger by a summarizing account, which is called a controlling account. The sum of the balance of he accounts in a subsidiary ledger must eq

4、ual the balance of the related controlling account.,4,2020/7/9,The individual accounts with customers are arranged in alphabetical order in a subsidiary ledger called the accounts receivable subsidiary ledger. The controlling account in the general ledger is accounts receivable, which summarized the

5、 debits and credits to the individual customer accounts.,2020/7/9,5,The individual accounts with creditors are arranged in alphabetical order in a subsidiary ledger called the accounts payable subsidiary ledger. The related controlling account in the general ledger is accounts payable.,2020/7/9,6,13.2 Format of ledger (see samples on page 122) Four-column Account ledger T-account ledger 13.3 Chart of account Accountants number accounts to find them in the ledger easily. A list of numbers with the corresponding account names is called a chart of accounts. E