5.4 posting the cash receipts journal
TRANSCRIPT
5.4
POSTING THE CASH
RECEIPTS JOURNAL
Video of this presentation at…
YouTube Channel for VCE Accounting
© Michael Allison. Author’s permission required for external use.
Cash at Bank [A]
31/1 Cash receipts 6260
At the end of the period, the monthly totals must be “posted” to the
relevant General Ledger accounts
5.4 POSTING THE CASH RECEIPTS
JOURNAL
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash at Bank [A]
31/1 Cash receipts 6260Posted on last
day of period
Debit Credit
Assets
Debit Credit
Assets
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
© Michael Allison. Author’s permission required for external use.
Debtors [A]
31/1 Cash 380
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Debtors [A]
31/1 Cash 380Posted on last
day of period
5.4 POSTING THE CASH RECEIPTS
JOURNAL
Debit Credit
Assets
Debit Credit
Assets
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
© Michael Allison. Author’s permission required for external use.
Cost of Sales [E]
31/1 Stock 370
Stock [A]
31/1 Cost of sales 370
Cost of Sales [E]
31/1 Stock 370
Stock [A]
31/1 Cost of sales 370
Posted on last day
of period
Posted on last day
of period
5.4 POSTING THE CASH RECEIPTS
JOURNALCash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Debit Credit
Expenses
Debit Credit
Expenses
Debit Credit
Assets
Debit Credit
Assets
© Michael Allison. Author’s permission required for external use.
Sales [R]
31/1 Cash 670
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Sales [R]
31/1 Cash 670Posted on last
day of period
5.4 POSTING THE CASH RECEIPTS
JOURNALCash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Debit Credit
Revenues
Debit Credit
Revenues
© Michael Allison. Author’s permission required for external use.
GST [L]
31/1 Cash 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
GST [L]
31/1 Cash 67Posted on last
day of period
5.4 POSTING THE CASH RECEIPTS
JOURNAL
Debit Credit
Liabilities
Debit Credit
Liabilities
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
© Michael Allison. Author’s permission required for external use.
Interest [R]
31/1 Cash 143
Capital [OE]
31/1 Cash 5000
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 6 Capital 653 5000 5000
Jan 21 Interest on investments --- 143 143
Jan 31 Total receipts 6260 380 370 670 5143 67
SundriesThere is no
Sundries
ledger
Capital [OE]
31/1 Cash 5000
As Sundries represent
the firm’s “irregular”
items, each transaction
is entered individually in
its own ledger
Posted on last
day of period
Interest [R]
31/1 Cash 143
Posted on
last day
of period
5.4 POSTING THE CASH RECEIPTS
JOURNALCash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 6 Capital 653 5000 5000
Jan 21 Interest on investments --- 143 143
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 6 Capital 653 5000 5000
Jan 21 Interest on investments --- 143 143
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 6 Capital 653 5000 5000
Jan 21 Interest on investments --- 143 143
Jan 31 Total receipts 6260 380 370 670 5143 67
© Michael Allison. Author’s permission required for external use.
5.4 POSTING THE CASH RECEIPTS
JOURNALCash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash at Bank [A]
31/1 Cash receipts 6260
Debtors [A]
31/1 Cash 380
Sales [R]
31/1 Cash 670
Capital [OE]
31/1 Cash 5000
Interest [R]
31/1 Cash 143
GST [L]
31/1 Cash 67
Cash at Bank [A]
31/1 Cash receipts 6260
Debtors [A]
31/1 Cash 380
Sales [R]
31/1 Cash 670
Capital [OE]
31/1 Cash 5000
Interest [R]
31/1 Cash 143
GST [L]
31/1 Cash 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cash Receipts Journal
Date Details Receipt
Number
Bank Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Total receipts 6260 380 370 670 5143 67
Cost of Sales [E]
31/1 Stock 570
Stock [A]
31/1 Cost of Sales 570
Cost of Sales [E]
31/1 Stock 570
Stock [A]
31/1 Cost of Sales 570
Dr Cr Cr Cr CrDr Cr
© Michael Allison. Author’s permission required for external use.
TASK
In-class Homework
SQ11 X
Ex5.1 X
Ex5.2 X