SEMI DETAILED LESSON PLAN IN JOURNALIZING TRANSACTIONS
I. Objectives
At the end of the lesson the students are expected to:
A. Define journalizing.
B. Understand the types of journals and journal entries.
C. Prepare journal entry.
II. Subject Matter
Course Description of Journalizing Transactions in Accounting
III. Materials
PowerPoint Presentation
IV. Procedure
A. Preparation
Greet the students, ask them to open their cam, and mute their microphone.
B. Motivation
Make the students think that journalizing is easy to understand and during the
activity, they will receive rewards.
C. Lesson Proper
Topic Outline:
1. Journals and Journal Entries
2. Preparation of Journal Entries
Journalizing in accounting is the system by which all business
transactions are recorded for your financial records. A business transaction is first
recorded in a journal, also called a Book of Original Entry.
The four (4) types of Journals are Sales Journal, Purchase Journal, Cash Receipt
Journal, and Cash Disbursement Journal.
Sales Journal: Records credit sales related to your business. When a
client pays an invoice by credit, you’ll record it in your Sales Journal.
Purchase Journal: Records credit purchases you make for your business,
such as office supplies to stock your desk, or software for your work.
Cash Receipts Journal: Records all the cash flowing into your business,
including cash payments you receive from your clients.
Cash Payments Journal: Records all cash flowing out of your business.
If you paid for parking on your way to a business meeting using cash,
you’d record it here.
The two (2) types of Methods of Record Keeping are Single Entry and Double
Entry.
Single-entry accounting is the most basic accounting method. In single-
entry accounting, every transaction is journalized as a single transaction.
Double-entry bookkeeping means that for every journal entry you make
in an account, you must make an opposite entry in a different account.
Every debit on one account is balanced by a credit to another account.
There are four (4) parts of a journal entry. In the first column is the date of
the transaction. The second column's first line is just after the date line is debit,
the second must be written in the below line after indented ten spaces from the
data line is credit, and the next is narration which is a brief description of the
transaction. The last part is the source documents such as the reference or account
numbers and amounts debited and credited.
To classify the normal balance of accounts, the debit means left and credit
means right. The normal balance of Drawings, Expenses, and Assets are on the
debit side and the decrease of the said accounts are on the credit side. On the other
hand, the normal balance of Liability, Equity, and Revenue are on the credit side
and the increase of the said accounts are on debit side.
Process of Journalizing
1. Classify business transactions by account.
Take a look at each business transaction and classify it by the type
of transaction. There will be two types of accounts involved in each
transaction: one account will be debited, and one account will be credited.
2. Determine the account type that’s involved.
There are different types of accounts that can be included in a
journal entry, and it’s important to identify the correct account type when
using double-entry bookkeeping. The types of accounts normally used by
self-employed workers include: asset, liability, expense and revenue.
3. Apply the fundamental accounting equation to the transaction.
Financial transactions must always be balanced, with the sum of
your debits always equal to the sum of your credits.
4. Journalize the transaction.
To complete the process, you’ll want to record the business
transaction as a journal entry in the correct journal. Don’t forget to include
the date of the transaction and a brief description of the financial event
you’re recording.
V. Evaluation:
The students will have activities about the normal balances of accounts and
the preparation of journal entry. The students will gain points for each correct answer
in the form of chips (pieces of paper). When the students are able to obtain five (5)
points they will receive a reward.
Performance Drill:
Instruction: Identify the normal balance of each account titles.
1. Unearned Revenue
2. Used Supplies
3. Accrued Interest
4. Prepaid Rent
5. Doubtful Account Expense
Prepare the journal entry below:
July 1 Jayron Nongui started a delivery service called Jayron Logistics, Inc. he
invested 800,000 cash and cars amounting to 200,000.
7 Jayron bought tables and chairs from Orocan and paid 45,000 cash.
18 Purchased equipment on account from Fortune, Inc. for 55,000
24 Jayron made cash withdrawal of 5,000 for personal use.
30 The account due to Fortune, Inc. was paid in cash.
VI. Assignment
Journalize each transaction using appropriate account title. The Chart of Accounts of
the Angela Laundry follows:
Balance Sheet Accounts Profit and Loss Accounts
ASSETS INCOME
201 Cash 301 Laundry Income
202 Accounts Receivable
203 Laundry Supplies EXPENSES
204 Laundry Equipment 401 Rent Expense
205 Delivery Truck 402 Taxes and Licenses
LIABILITIES EQUITY
601 Accounts Payable 501 Angela, Capital
March 1 Angela opened a laundry business called the “Angela Laundry” with capital
composed of
Cash 20,000
Laundry Supplies 4,000
Laundry Equipment 80,000
6 Paid business tax to the City Treasurer, 1,600
10 Purchased a delivery truck from the Northern Motors for 120,000 on credit.
15 Paid rent of the building for the month, 2,000
20 Received 6,000 cash for laundry delivered to various customers. Sent
charge bill, 4,000, for laundry delivered on credit to the Manila Hotel.
References:
(Online Sources)
1. https://www.academia.edu/83129979/Detailed_Lesson_Plan_in_Journalizing
2. https://www.slideshare.net/bogeybear/accounting-recording-process-journalizing-
81328680
3. https://www.freshbooks.com/hub/accounting/journalizing-transactions-
accounting?fbclid=IwAR0Vwpk8Bn5vwC4_u_W6l_eAtPrAmlEr6Luh-
UjhEgM4C0rjrgMDTTBJ5m4#:~:text=in%20your%20area.-,What%20Is
%20Journalizing%20in%20Accounting%3F,a%20Book%20of%20Original
%20Entry
Presented by:
Llamado, Romina L.
Baltazar, Rochelle S.
