11 – Acctg for Transactions using a GJ


Understanding the Accounting Cycle for a Merchandising Business

  • 59: Identify special journals and their uses.

After studying Chapter 11, in addition to defining key terms, you will be able to:

  • LO1 Explain the purpose of a general journal.
  • LO2 Account for purchases returns and allowances.
  • LO3 Post a general journal to the accounts payable ledger and general ledger.
  • LO4 Account for sales returns and allowances.
  • LO5 Post a general journal to the accounts receivable ledger and general ledger.
  • LO6 Record a correcting entry to the accounts receivable ledger.
  • LO7 Explain the relationship between retained earnings and dividends.
  • LO8 Account for the declaration and payment of dividends.

Chapter 11 Vocabulary Acct

Chapter 11 Accounting Text

Chapter 11 Coversheet

Chapter 11 Mastery

Chapter 11 Study guide

Section 1:

Section 2:

Section 3: