jps educators: class xi accountancy - ledger
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JPS
Ledger
JPS
What is a Ledger?
A ledger may be defined as a “book or register , which contains in a summarised and classified form, a permanent record of all transactions” In a ledger transaction of one nature are posted or classified. It is also called as “Principal Book”.
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The process of transforming a Journal into Ledger is called POSTING.
For posting we can classify journal entries into three types:a)Opening Entryb)Simple Entryc)Compound Entry
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FORMAT OF A LEDGER BOOK
Date Particulars J.F.
Amount Date Particulars J.F.
Amount
Account NameDr Cr
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Type 1: Posting of an Opening EntryQuestion:
1/4/2011 Cash A/c Dr. 2,000Bank A/c Dr 3,000Stock A/c Dr 10,000Machinery A/c Dr 20,000Rohan Dr 30,000Mohan Dr 5,000Prachi Dr 30,000
To Suresh 15,000To Gaurav 25,000To Capital A/c 60,000
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Cash A/c Dr. 2,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 2,000
Cash AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Bank A/c Dr 3,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 3,000
Bank AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Stock A/c Dr 10,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 10,000
Stock AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Machinery A/c Dr 20,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 20,000
Machinery AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Rohan Dr 30,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 30,000
Rohan’s AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Mohan Dr 5,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 5,000
Mohan’s AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 Prachi Dr 30,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Balance b/d 30,000
Prachi’s AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 To Suresh 15,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
By Balance b/d 15,000
Suresh’s AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 To Gaurav 25,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
By Balance b/d 25,000
Gaurav’s AccountDr Cr
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Type 1: Posting of an Opening EntryNow Pick Each Item Separately
1/4/2011 To Capital A/c 60,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
By Balance b/d 60,000
Capital AccountDr Cr
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Type 2: Posting of a Simple Entry
1/4/2011 Ram Dr 40,000 To Sales A/c 40,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Sales A/c 40,000
Ram’s AccountDr Cr
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Type 2: Posting of a Simple Entry
1/4/2011 Ram Dr 40,000 To Sales A/c 40,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
By Ram’s A/c 40,000
Sales AccountDr Cr
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Type 3: Posting of a Compound Entry1/4/2011 Cash A/c Dr 9,900
Discount Allowed A/c Dr 100 To Harish A/c 10,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Harish’s A/c 9,900
Cash AccountDr Cr
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Type 3: Posting of a Compound Entry1/4/2011 Cash A/c Dr 9,900
Discount Allowed A/c Dr 100 To Harish A/c 10,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
To Harish’s A/c 100
Discount Allowed AccountDr Cr
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Type 3: Posting of a Compound Entry1/4/2011 Cash A/c Dr 9,900
Discount Allowed A/c Dr 100 To Harish A/c 10,000
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1
By Cash A/cBy Discount Allowed A/c
9,900100
Harish’s AccountDr Cr
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How To Balance a LedgerSuppose we have the following cash account
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1May 2June 5July 4Aug 1
To Balance b/dTo Sales A/cTo Harish A/cTo Sales A/cTo Ram A/c
2,0005,0003,000
10,0005,000
2011May 2May 23June 1June 30Dec 19Mar 31
By Bank A/cBy Salary A/cBy Postage A/cBy Purchases A/cBy Wages A/cBy Balance c/d
1,000800200
3,0001,000
19,000
25,000 25,000
2012April 1
To Balance b/d 19,000
Cash AccountDr Cr
25,000 6,000
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How To Balance a LedgerSuppose we have the following bank account
Date Particulars JF
Amount Date Particulars JF
Amount
2011April 1May 2June 5July 4Aug 1Mar 31
To Balance b/dTo Sales A/cTo Harish A/cTo Sales A/cTo Ram A/cTo Balance c/d
3,0001,0003,0003,0001,000
20,000
2011May 2May 23June 1June 30Dec 19
By Cash A/cBy Salary A/cBy Postage A/cBy Purchases A/cBy Wages A/c
10,0007,0003,0005,0006,000
31,000 31,000
2012April 1
By Balance b/d 20,000
Bank AccountDr Cr
11,000 31,000
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