Transcript Lesson 4-1

LESSON 4-1
Preparing a
Chart of Accounts
1. Describe the two parts of an account number.
2. List the two steps for opening an account.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
2
Competency: Understanding the
Accounting Cycle for a Service Business
Objectives:
42 Post general entries to the general
ledger.
50 Summarize the progression from
source documents to journals.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
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Chapter 4 Objectives
 Define accounting terms related to posting from a journal
to a general ledger.
 Identify accounting concepts and practices related to
posting from a journal to a general ledger.
 Prepare a chart of accounts for a service business
organized as a proprietorship.
 Post separate amounts from a journal to a general ledger.
 Post column totals from a journal to a general ledger.
 Analyze and journalize correcting entries.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
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 Ledger – A group of accounts.
 General ledger – A ledger that contains all accounts
needed to prepare financial statements.
 Account number – The number assigned to an
account.
 File maintenance – The procedure for arranging
accounts in a general ledger, assigning account
numbers, and keeping records current.
 Opening an account – Writing an account title and
number on the heading of an account.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
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RELATIONSHIP OF A T ACCOUNT
TO AN ACCOUNT FORM
page 91
Balance columns
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
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CHART OF ACCOUNTS
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 92
LESSON 4-1
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ACCOUNT NUMBERS
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 92
LESSON 4-1
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OPENING AN ACCOUNT
IN A GENERAL LEDGER
1
page 94
2
1. Write the account title.
2. Write the account number.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
9
TERMS REVIEW
page 95
In your Chapter 4Terms Word Document and SaveAS
Chapter4TermsYourName

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
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ledger
general ledger
account number
file maintenance
opening an account
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
10
Exit Ticket for Chapter 4-1
In a Word Document, SaveAS: Chapter4-1AYUYourName
Drop a copy in my InBox today before you leave!
1. Describe the two parts of an account number.
2. List the two steps for opening an account.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1
11
Chapter 4-1 Assignments
Complete on Aplia
 Work Together 4-1
 On Your Own 4-1
 Application Problem 4-1
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 4-1