Day 54 (CA)

Chapter 9 Sales & Purchases

REVIEW:

  1. What is a controlling account?
  2. What is a subsidiary ledger?
  3. What is the purpose of having a controlling account & a subsidiary ledger?

GOAL: Using a general journal and the periodic inventory system, record purchase and purchase-related transactions; then post to the general ledger and the accounts payable ledger.

  1. Log in to cengagenow
  2. Click Study Tools
  3. Click Adaptive Study Plans
  4. Next to Chapter 9 – Sales & Purchases click Resume Studying
  5. Under Objectives & Study Materials click 4. Using a general journal and the periodic inventory system, record purchase and purchase-related transactions; then post to the general ledger and the accounts payable ledger.
  6. Under Study Materials click  eBook – 9.4: Purchase Transactions  follow along while watching this video
  7. WATCH: Show Me How: Using a general journal and the periodic inventory system, record purchase and purchase-related transactions; then post to the general ledger and the accounts payable ledger. 
  8. SHOW ME AS YOU FINISH EACH:
  9. Open the CHAPTER 9 WORKING PAPERS SPREADSHEET & DO AND PRINT THE FOLLOWING:
    1. Exercise 9-4 page 406
    2. Exercise 9-5 pages 406 to 407
    3. Exercise 9-6 page 407