LEDGER AND TRIAL BALANCE

Case III- Ledger posting from Purchases book

Journal Entry for Credit Purchases is
Purchases A/c Dr
To Supplier

Therefore the rules of posting from Purchases Book are.

1. The total of the Purchases book will be posted to the Debit side of Purchase A/c and the words “To Sundries as per Purchase Book” will be written in the particulars column.
2. Each of the Supplier’s A/c will be Credited and the words. “By Purchases A/c” will be written in the particulars column.

EXAMPLE :

SOLUTION : LEDGER A/cs

Case IV- Ledger Postings from Sales Book

Journal Entry for Credit sales is
Customer Dr
To Sales A/c
Hence rules for posting from sales Book are

1. Total of the Sales Book will be posted to the credit side of sales A/c by writing the words "By Sundries as per Sales Book"
2. Customer's personal A/cs are debited by writing the words "To Sales A/c"

Case V- Ledger Postings from Purchase Return Book

Journal Entry for purchase Return is Personal A/c of Supplier Dr To Purchase Return A/c.

Hence the rules for posting are.

1. Supplier’s A/c (to whom the goods are returned) is debited by writing the words “To Purchase Return A/c”)

2. The total of the Purchases return Book is credited to the Purchases Return A/c by writing the words “By Sundries as per Purchases Return Book”.

Case VI - Ledger Postings of Sales Return Book

Journal Entry for the Sales Return is -
Sales Return A/c     Dr
To Customer
Hence the Rules for Posting are

1. Individual Customer’s A/cs by whom the goods are returned are Credited by writing the words “By Sales Return A/c”.
2. The total of the Sales Return Book is posted to the Debit of Sales Return A/c by writing the words. “To Sundries as per Sales Return Book”.
3. Ledger Postings from Bills Receivable Book.

Bills Receivable book shows the names of the persons from whom the Bills are Received. Therefore the Journal Entry is
B / R A/c    Dr
To Personal A/c
Hence. (1) Posting will be done on the Credit side of the Personal A/cs by writing the words. “By Bills Receivable A/c”.

(2) The total of the Bills Receivable Book will be posted to the debit side of Bills Receivable A/c by writing the words “To Sundries as per Bills Receivable Book”

(8) Ledger Postings of Bills Payable Book

Bills payable is a liability, therefore the Journal Entry is Personal A/c Dr

To Bills Payable A/c.
Hence the rules of Posting are

1. Personal A/cs will be debited by writing the words. “To Bills Payable A/c”.
2. Total of the Bills Payable Book will be posted to the credit of Bills Payable A/c by writing “By Sundries as per Bills Payable Book”.

Closing and Balancing of Accounts

 

CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari ) 
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