Procedure of posting :
The procedure of posting is given as follows:
I. Procedure of posting for an Account which has been debited in the journal entry.
Step 1 Locate in the ledger, the account to be debited and enter the date of the transaction in the date column on the debit side.
Step 2 Record the name of the account credited in the Journal in the particulars column on the debit side as “To….. (name of the account credited)”.
Step 3 Record the page number of the Journal in the J.F column on the debit side and in the Journal, write the page number of the ledger on which a particular account appears in the L.F. column.
Step 4 Enter the relevant amount in the amount column on the debit side.
II. Procedure of posting for an Account which has been credited in the journal entry.
Step 1 Locate in the ledger the account to be credited and enter the date of the transaction in the date column on the credit side.
Step 2 Record the name of the account debited in the Journal in the particulars column on the credit side as “By…… (name of the account debited)”
Step 3 Record the page number of the Journal in the J.F column on the credit side and in the Journal, write the page number of the ledger on which a particular account appears in the L.F. column.
Step Enter the relevant amount in the amount column on the credit side.
Illustration :
Mr. Ram started business with cash Rs. 5,00,000 on 1st June 2003.
The above transaction will appear in Journal and Ledger as under.
Solution :
In the Books of Ram
Journal
Illustration:
Journalise the following transactions in the books of Amar and post them in the Ledger:-
2004
March1 Bought goods for cash Rs. 25,000
2 Sold goods for cash Rs. 50,000
3 Bought goods for credit from Gopi Rs.19,000
5 Sold goods on credit to Robert Rs.8,000
7 Received from Robert Rs. 6,000
9 Paid to Gopi Rs.5,000
20 Bought furniture for cash Rs. 7,000
Solution : Journal of Amar
Date |
Particulars |
L.F |
Debit |
Credit |
||
2004 Mar 1 | Purchases A/c Dr.
To Cash A/c (Cash purchases) |
25,000 | — |
25,000 |
— |
|
2 | Cash A/c Dr.
To Sales A/c (Cash Sales) |
50,000 | — |
50,000 |
— |
|
3 | Purchases A/c Dr.
To Gopi A/c (Credit purchases) |
19,000 |
— |
19,000 |
— |
|
5 | Robert A/c Dr.
To Sales A/c (Credit Sales) |
8,000 | — |
8,000 |
— |
|
7 | Cash A/c Dr.
To Robert A/c (Cash received) |
6,000 |
— |
6,000 |
— |
|
9 | Gopi A/c Dr.
To Cash A/c (Cash paid) |
5,000 |
— |
5,000 |
— |
|
20 | Furniture A/c. Dr.
To Cash A/c (furniture purchased) |
7,000 |
— |
7,000 |
— |
Explanation : There are six accounts involved: Cash, Purchases, Sales, Furniture, Gopi & Robert, so six accounts are to be opened in the ledger
Ledger of Amar
Cash Account
Dr Cr.
Date |
Particulars | J.F | Amount Rs. |
Date | Particulars | J.F |
Amount |
2004 |
2004 |
||||||
Mar 5 |
To Sales A/c |
50,000 |
Mar 1 |
By Purchases | |||
Mar7 |
To Robert A/c |
6,000 |
A/c |
25,000 |
|||
Mar 9 |
By Gopi A/c |
5,000 |
|||||
Mar 20 |
By Furniture A/c |
7,000 |
Purchases Account
Dr. Cr.
Date | Particulars | J.F | Amount Rs. |
Date | Particulars | J.F | Amount Rs. |
,Mar 1
” 3 |
To Cash A/c To Gopi A/c |
25,000 |
Sales Account
Dr. Cr.
Date | Particulars | J.F | Amount Rs. |
Date | Particulars | J.F | Amount Rs. |
2004 Mar 2
5 |
By Cash A/c By Robert A/c | 50,000
8,000 |
Furniture Account
Dr. Cr.
Date | Particulars | J.F | Amount Rs. |
Date | Particulars | J.F | Amount Rs. |
2004 Mar 20 | To Cash A/c | 7,000 |
Gopi Account
Dr. Cr.
Date | Particulars | F
J.F |
Amount Rs. |
Date | Particulars | J.F | Amount Rs. |
2004 Mar 9 | To Cash A/c | 5,000 | 2004 mar 3 | By Purchase A/c |
19,000 |
Robert Account
Dr. Cr.
Date | Particulars | F
J.F |
Amount Rs. |
Date | Particulars | J.F | Amount Rs. |
2004 Mar 5 | To Sales A/c | 8,000 | 2004 Mar 7 | By Cash A/c | 6,000 |