MANAGEMENT ACCOUNTING II LEDGER The purpose of this unit is for participants to implement skills and abilities i n managing the

ledger and the accounts most widely used in the accounting period , passes through the cards or more. Overview Management Ledger The appellant in this chapter Uds. know is that managing the use of cards or chips major, passes through each account to its respective tab, with the information p rovided in the book daily. As you must know the main book of accounts is the boo k every day, it settles all accounting transactions that carry on day to day and turn all accounts of the assets, liabilities, capital, income and expenses are reflected in it. Example: • On May 30, 2007, the company receives in cash the am ount of Bs 25 000 check No 30 157 by way of rental fees from a local named Sisti ne your property, the check is deposited into Republic Bank. So this is where yo u have to use logic, to observe the operation is noted that the company receives a for rental income, that account will be called rental income, plus the check is deposited into the bank, called Bank of the Republic, then there are two acco unts to be settling in the book every day. "And how? In the book, journal, there are two columns (debit and credit) and each has a particular nature for each ac count, analyzing the transaction and know that there are two settling accounts, rental income and Republic Bank. Income from rents, is an account INCOME and inc rease them column by HABER, Republic Bank is an asset account and the same incre ase for MUST be recalled that the outcome of the columns must be zero (0), there fore the seat is as follows: Date Ref EXPLANATIONS MUST HAVE -1 - Republic Bank in May 1930 1.1 4.6 Rental income 25000.00 25000.00 P / R for rental income mont hly No 30 157 ch, local Sistine As shown in columns of debit and credit are bala nced and that is how it works in principal daily book. For our work if not the p rincipal daily book but with the subsidiary ledger or Savings Bank, to simplify the class this way: 1 BOOK AUXILIARY JOURNAL OF BANK REPUBLIC Date ACCOUNTS OF MAJOR EXPLANATIONS MUST HAVE BALANCE May 1930 rental income Ch No 30 157 local Sistine 25,000 25,000 No te that here only the increases and reductions that are bound only with the acco unt bank, which in this case called Bank of the Republic and identifies counts m ost is the operation. After this is done go to the card or more of this form Cou nt: Rental income Date EXPLANATIONS MUST HAVE BALANCE May 1930 Local Sistine ch No 30157 25.000 25 000 Note that the header is placed in the account of the main operation and the explanations are very brief, but carefully observe that the p osition regarding the number of each account in the respective column (do not ch ange are the same for conserving the balance of the columns). Banco República (M ust, to improve their balance and be an asset account) and rental income (Haber, to improve their balance and be an income account) I add another operation in M ay 1930, the company contractor pays for the services of Alonso y Cia, CA, 12 00 0 in cash Bs ch Republic No 000 198, use the same tab, as long as this within th e current month AUXILIARY BOOK OF DAILY REPUBLIC BANK ACCOUNTS Date EXPLANATIONS TO MAYOR CREDIT BALANCE May 1930 Income from rental Ch local Sistine No 25,000 25,000 30 157 May 1930 Ch CONTRACTOR SERVICES 000 198 12 000 13 000 No Now you h ave to record the main account of the operation,in this case is service contract or, which is a separate card (each account must be greater than your credit card ) account: CONTRACTOR SERVICES BALANCE DEBIT CREDIT EXPLANATIONS Date May 30 Alo nso, CA 12 000 12 000 Assuming you already completed operations month, must clos e the cards this way: LOG BOOK AUXILIARY REPUBLIC BANK Date May May May May 2 30 30 30 30 MAJOR ACCOUNTS rental income CONTRACTOR SERVICES Ch EXPLANATIONS No local Sistine Ch 30 157 000 198 No month available

DEBIT CREDIT BALANCE 25,000 25,000 12,000 13,000 13,000 Account: Rental income EXPLANATIONS Date May 1930 Local Sistine ch No End of mon th 30 157 Account Balance: CONTRACTOR SERVICES EXPLANATIONS Date May 30 Alonso, CA, Ch No 000 198 Final Month Balance MUST HABER 25 000 BALANCE 25,000 25,000 MUST 12 000 HABER BALANCE 12.000 12.000 After that, it becomes an end in the principal daily book, just putting the fina l balances of the accounts in the respective book, to verify the balance of the columns: Date Book Home Journal EXPLANATIONS MUST HAVE BALANCE Bank in May 1930 ( 1) Contractor Services 13 000 12 000 25 000 Rental Income P / R closing book o f the month May 2007 Note (1): In the closing balances Home Journal book does no t take the availability of bank, only the balance recurrent the current month. T his detail will be explained in class Exercise 1 Register the operations of the company La Cruz, CA 1. May 1, the balance at the beginning of the month in the b ank account is Bs 500 000 2. May 3, office equipment acquired Fact No 215 of Bs 60,000 cash, check No. 310 101 3. May 8, it sells merchandise Romero y Cia Fact No. 008 80 000 Bs against invoice within 30 days, up owing the commission to the seller of 2% 4. May 1910, used vehicle is purchased by check cash Bs 5000 No 31 0 102 5. May 13, sold merchandise to the top, SA Fact No 100 000 009 Bs, Bs 60,0 00 in cash and the rest payable in 30 days in June. May 18, pay $ 60,000 in cash Bs Fact No. 008 the rest will be paid on May 30 7. May 18, the seller is given the commission by 2% for the Fact No. 008 in cash in August. May 1919, the Bank' s branch gives the company a loan with a maturity of two years deposited into yo ur bank account Bs 1 million, thereby acquiring a small 3 Bs deposit No. 310 103 950 000 check and the rest of the loan is transferred to box tr shout September 1. May 1925 Formicasa merchandise is sold, SA Fact No. 01 0 70 000 Bs, 80% in cash and the rest against invoice 10. May 1926, he was mista kenly charged to Fact No. 010 Goods not asked for Bs 15,000, a note is issued No . 11 in his favor in November. May 30, cancel the invoice No 008 in cash ch No 0 0,060,678 is requested: Make the emptying of the transactions in the books of au xiliary Bank, Mayor and Chief of Daily Exercise 2 Record the operations of the c ompany's Onomatopoeia, SA 1. January 1st of the month beginning balance is Bs 19 5 200 2. January 2 the company creates a trust for Bs 145 000 transferred from y our bank account to benefit 3. Submitted January 2 Bs 200 to box n / tr No 025 4 . January 5 requests an advance in the bank to cover its liabilities denominated in a año75 is issued check No. 750 000 789 245 Bs which 85% is deposited in the bank and the rest in box 5. January 7 professional fees paid to financial consu ltant for Bs ch n º 00 010 2500 6. January 1910 rent paid by local Bs ch 45 000 00 011 No 7. January 1913 paid electricity, water, condo Bs ch 70 000 00 012 No 8. January 1914 payroll register by paying off the 1st half of Bs 400 000 9. Jan uary 1915 a sale takes place Fact No. 2501 to the Vineyard, SA 120 000 Bs agains t invoice to 30 days, owing him 5% commission to the seller 10. January 1915 was made a fact-sale for Bs 2502 No 645 000,owing him 5% commission to the seller 1 1. Stationery acquired in January 1916 by the order of 95% against 7500 Bs invoi ce and the balance in cash 12. January 18 is charged interest on fixed-term bank account for Bs 157 000 13. January 1920 Cobra bonus interest of national public

debt (DPN) for Bs 45,875,133 14. January 1921 to pay the payroll of the 1st hal f 15. January 1922 commissions paid bills 2501 and 2502 No 16. January 1925 Abon a 20% of the invoice No 2502 4 17. January 1926 I paid 75% of invoice No. 201 18. January 1928 payroll is recor ded in the 2nd half for 19 Bs 400.00. January 1931 Pay off all accounts payable that the company has requested: Making the emptying of the operations in the boo ks of Bank Assistant, Mayor and Chief of Journal

5 ANNEXES € € € € € € € € € € € € € € € € € € € € € € € 6 AUXILIARY BOOK DIARY OF BANK ACCOUNTS Date EXPLANATIONS MUST HAVE MORE BALANCE

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7 MORE CARDS 8

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