Journalizing Purchases and Cash Payments
This chapter objectives are:
Define accounting terms related to purchases and cash payments for a merchandising business
Identify accounting concepts and practices related to related to purchases and cash payments for a merchandising business
Journalizing purchases of merchandise using a purchase journal
Journalizing cash payments and cash discounts using a cash payment journal
Prepare a petty cash report and journalize the reimbursement of the petty cash fund
Total, prove and rule a cash payments journal and start a new cash payment journal page
Journalize purchases returns and allowances and other transactions using a general journal
Posted below are the PowerPoints and the "worksheets" we will use in class for this chapter.
Chapter 9 Vocabulary
9.1 Journalizing Purchases Using a Purchase Journal
Merchandise
Merchandising business
Retail merchandising business
Wholesale merchandising business
Corporation
Share of stock
Capital stock
Stockholder
Special journal
Cost of merchandise
Markup
Vendor
Purchase on account
Purchases journal
Special amount column
Purchase invoice
Terms of sale
9.2 Journalizing Cash Payments Using a Cash Payment Journal
Cash payment journal
Cash discount
Purchase discount
General amount column
List price
Trade discount
Contra account
9.3 Performing Additional Cash Payments Journal Operations
Cash short
Cash over
9.4 Journalizing Other Transactions Using a General Journal
Purchase Return
Purchase Allowance
Debit Memorandum