Chapter 6.1

Recording Journal Entries

16

• Enter the date

Chapter 6.1

Recording Journal Entries

16

Date

99Nov.Nov.20—20—

Chapter 6.1

Recording Journal Entries

16

Step 2

99Nov.Nov.20—20—

• Enter the debit account(s)

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies

• Enter the debit amount(s)

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

• Indent and enter the credit account(s)

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank

• Enter the credit amount(s)

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

• Write a brief explanation (at left margin)

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

• Skip a line and complete next entry

Chapter 6.1

Recording Journal Entries

16

1 3 5 –

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

A/P—World Wide Fibre Optics

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

A/P—World Wide Fibre Optics 10 0 0 0 –

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

A/P—World Wide Fibre Optics 10 0 0 0 –

Bank

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

A/P—World Wide Fibre Optics 10 0 0 0 –

Bank 2 0 0 0 –

Chapter 6.1

Recording Journal Entries

16

99Nov.Nov.20—20—

Supplies 1 3 5 –

Bank 1 3 5 –

Letterhead and envelopes; cheque #40

12 Equipment 12 0 0 0 –

A/P—World Wide Fibre Optics 10 0 0 0 –

Bank 2 0 0 0 –

Network software installation; issued cheque

#41 with the balance due in 30 days.

Chapter 6.1

Recording Journal Entries

16

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12 Equipment

A/P—World Wide Fibre Optics

Network software installation; issued cheque

#41 with the balance due in 30 days.

12 0 0 0 –

Bank

10 0 0 0 –

2 0 0 0 –

1 3 5 –

99Nov.Nov.20—20—

Journal Entry Facts

Chapter 6.1

Recording Journal Entries

16

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12 Equipment

A/P—World Wide Fibre Optics

Network software installation; issued cheque

#41 with the balance due in 30 days.

12 0 0 0 –

Bank

10 0 0 0 –

2 0 0 0 –

1 3 5 –

99Nov.Nov.20—20—

• Consecutive page numbers

Journal Entry Facts

Chapter 6.1

Recording Journal Entries

16

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12 Equipment

A/P—World Wide Fibre Optics

Network software installation; issued cheque

#41 with the balance due in 30 days.

12 0 0 0 –

Bank

10 0 0 0 –

2 0 0 0 –

1 3 5 –

99Nov.Nov.20—20—

• Each journal entry balances

Journal Entry Facts

Chapter 6.1

Recording Journal Entries

16

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12 Equipment

A/P—World Wide Fibre Optics

Network software installation; issued cheque

#41 with the balance due in 30 days.

12 0 0 0 –

Bank

10 0 0 0 –

2 0 0 0 –

1 3 5 –

99Nov.Nov.20—20—

• A “compound entry” affects more than two accounts

Journal Entry Facts

Chapter 6.1

Recording Journal Entries

16

Supplies 1 3 5 –

Bank

Letterhead and envelopes; cheque #40

12 Equipment

A/P—World Wide Fibre Optics

Network software installation; issued cheque

#41 with the balance due in 30 days.

12 0 0 0 –

Bank

10 0 0 0 –

2 0 0 0 –

1 3 5 –

99Nov.Nov.20—20—

• Account titles are capitalized

Journal Entry Facts

Chapter 6.1

Recording Journal Entries

16

• Amounts in the opening journal entry are the same as amounts on the opening balance sheet

Bank

Supplies

Equipment

Bank Loan

Opening financial position of Shirley Cassar

19 5 5 0 –

Shirley Cassar, Capital

10 0 0 0 –

1 4 0 0 –3030Oct.Oct.20—20—

Automobile

22 0 9 0 –

8 7 1 5 –

2 4 2 5 –

The Opening Entry