Accounting

Accounting - Chapter 9

Chapter Objectives

  • Distinguish among service, retail merchandising, and wholesale merchandising businesses.
  • Identify differences between a sole proprietorship and a corporation.
  • Explain the relationship between a subsidiary ledger and a controlling account.
  • Describe accounting procedures used in ordering merchandise.
  • Discuss the purpose of a special journal.
  • Journalize purchases of merchandise on account using a purchases journal.
  • Post merchandise purchases to an accounts payable ledger and a general ledger.
  • Record cash payments using a cash payments journal.
  • Record replenishment of a petty cash fund.
  • Post cash payments to an accounts payable ledger and a general ledger.

Accounting for Purchases and Cash Payments

Chapter 9 PowerPoint

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Chapter 9 Quizlet

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Application Problem 9-4

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Think Like An Accountant

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