Harika Ledger Doc

LEDGER ACCOUNTING: Accounting is an activity concerned with the recording of financial data relating to business operations in a significant and orderly manner. Rules of different accounts: PERSONAL ACCOUNT: “Debit the receiver and credit the giver” REAL ACCOUNT: “Debit what comes in and credit what goes out” NOMINAL ACCOUNT: “Debit all expenses and losses and credit all incomes and gains” LEDGER: Ledger is a book which contains various accounts. In other words , ledger is a set of accounts . It contains all accounts of business enterprise whether real, nominal, or personal. RULES REGARDING THE POSTING: The following rules should be observed while posting the transactions in the ledger from the journal. 1. Separate accounts should be opened in the ledger for posting transactions relating to different accounts recorded in the journal. E.g.: separate accounts may be opened for sales, cash account, purchases etc… 2. The concerned account which has been debited in the ledger. However a reference should be made of the other account which has been credited in the journal. 3. The concerned account which has been credited in the journal should also be credited in the ledger, but reference should be of given account, which has been debited in the journal.

JOURNALISE THE FOLLOWING TRANSACTIONS AND POST THEM IN LEDGER

DATE

PARTICULARS

AMOUNT IN RS

01/01/2000 Started business with cash

40000

02/01/2000 Purchased goods for cash

8000

03/01/2000 Sold goods for cash

7000

05/01/2000 Received cash from murthy

1000

18/01/2000 Cash paid to murthy

500

21/01/2000 Purchased goods from kiran

14000

31/01/2000 Goods sold to kareem

6000

JOURNAL OF MR.PRABHU DATE

PARTICULARS

01/01/2000 .cash a/c …………………….Dr

LF

DEBIT IN

NO RUPEES 40000

To Prabhu’s capital a/c 02/01/2000 Purchases a/c…………………Dr

8000 8000 7000

To sales a/c 05/01/2000 Cash a/c ……………………..Dr

7000 1000

To Murthy a/c 18/01/2000 Murthy a/c…………………..Dr

1000 500

To cash a/c 21/01/2000 Purchases a/c…………………Dr

500 14000

To Kiran a/c 31/01/2000 Karim a/c……………………..Dr To sales a/c

RUPEES 40000

To cash a/c 03/01/2000 Cash a/c ………………………Dr

CREDIT IN

14000 6000 6000

POST THEM INTO LEDGER Dr DATE

CASH A/C

Cr

PARTICULA

JF

DEBIT IN DATE

PARTICULAR JF

CREDI

RS

N

RS

S

T IN RS

N

O 01/01/00

To prabhu’s

O 40000

02/01/00

By purchases

capital a/c

8000

a/c

03/01/00

To sales a/c

7000

18/01/00

By murthy a/c

500

05/01/00

To cash a/c

1000

31/01/00

By balance c/d

39500

48000 01/02/00

To balance b/d

Dr

48000

39500

PRABHU’S CAPITAL A/C JF

DEBI

DATE

PARTICULA

N

T IN

O

31/01/00

RS To balance c/d

RS 40000

Cr JF

CREDI

DATE

PARTICULAR N

T IN RS

01/01/00

S By cash a/c

40000

O

40000 40000

01/02/00

By balance b/d

40000

Dr DATE

PURCHASES A/C PARTICULA

JF

DEBI

RS

N

T IN

O 02/01/00

To cash a/c

RS 8000

21/01/00

To kiran a/c

14000

01/02/00

To balance b/d

22000

Cr DATE

PARTICULAR JF

CREDI

S

T IN RS

N O

31/01/00

By balance c/d

22000

22000

SALES A/C DATE

31/01/00

PARTICULA

JF

DEBI

RS

N

T IN

O

RS 13000

To balance c/d

13000

DATE

PARTICULAR JF

CREDI

S

T IN RS

N O

03/01/00

by cash a/c

7000

31/01/00

by karim a/c

6000

01/02/00

to balance b/d

13000

Dr DATE

MURTHY A/C

CREDI

S

N

T IN RS

DEBI

S

N

T IN

O

05/01/00 By cash a/c 01/02/00

To cash a/c

31/01/00

To balance c/d

500

O

1000

Dr

31/01/00

JF

JF

18/01/.00

DATE

PARTICULAR

PARTICULAR

RS 500

DATE

Cr

1000

By balance b/d

1000

KIRAN A/C PARTICULA

JF

DEBI

RS

N

T IN

O

RS 14000

To balance c/d

14000

DATE

Cr PARTICULAR JF

CREDI

S

T IN RS

N O

21/01/00

By purchases

01/02/00

a/c By balance b/d

14000

14000

Dr

KARIM A/C

DATE

PARTICULA

JF

DEBI

RS

N

T IN

O 31/01/00

To sales a/c

RS 6000

01/02/00

To balance b/d

6000

Cr DATE

PARTICULAR JF

CREDI

S

T IN RS

O 31/01/00

By balance c/d

CONCLUSION: Thus we have to post the following transactions from journal to Ledger.

N

6000 6000