Question
Explain the rules regarding posting of journal entries into ledger
accounts.
Answer :
Word Count : 613
_________ ______ ________ _________ _____ ______ ______ _________ __________ ____ _______.
_____ ___ ______ ____ __________ ____ ____ ____ __________ ________ ___.
________ __________ _________ _______ ______ ___ _______ __________.
_______ ________ _________ ______ ____ _____ _____.
_____ ____ __________ ____ _________ __________ __________ ________ __________ ____.
____ ______ _______ _______ ___ __________ ________ __________ ______ ________ ____ _____.
___ ______ ______ _____ ___ _____ __________ ____ ___ ________ _________ ________.
___ _________ ___ ________ ________ ________ ____ ____ ______ ___ _________ ________.
____ _____ _____ _______ __________ _______ _______ ____ ____ ____ ________ __________.
___ _________ __________ _________ _____ _________ __________.
___ ______ ___ __________ ________ __________ ____ _______ ______ __________ ___.
____ _______ _________ _____ __________ ________ _______ _______ ________ ____.
____ ___ _______ _________ _________ ____.
___ ____ _________ __________ ___.
___ ___ _____ ________ __________ _________ _________.
____ ____ _______ _______ _____ ___ _________.
____ ________ _______ __________ ___ ______ _______.
________ ______ _________ ____ _______ __________ ___ _______ ____ ___.
_________ ______ ________ ___ _____ _____ ___ ___ _____ _______ _____.
__________ ______ ___ _______ _________ ______.
____ __________ ______ _______ _______ ________ ___ __________.
_______ __________ _________ _______ ____ ____ ________ ______ ________ ______.
__________ ______ ____ ___ _____ ________ ___ _____ _______ ________.
______ _________ ______ ________ ___.
___ ____ ____ _______ _________ _______ _____ _____ _____ _______.
_____ ____ ______ ____ ______ ___ _______ ___.
__________ ____ _____ _________ _________ __________ _________ __________ ______.
__________ _____ ______ _____ ___ _______.
______ _________ ____ ________ ______ _____ _______ ____ _____.
________ ________ ________ __________ ____ __________ ____ __________.
____ _____ _________ _____ ________ _______.
_______ __________ _____ ___ _________.
___ ____ _________ ________ _________ ______ ________ ____ ________.
________ _______ ______ _________ _____ __________ __________.
________ ___ _____ __________ __________ ______ __________ _______ _________.
__________ __________ ____ ____ ____ _________ ____ _____.
_____ ___ ___ ________ ___.
__________ ____ ___ _______ __________ ____.
______ ______ ___ _________ ______ ___ ____ _______.
____ ________ ______ ___ _____ ___ _________ _________.
________ ___ ____ _____ __________.
_______ ____ ____ ____ __________ _____ _____ __________ _____ __________.
________ ________ __________ __________ ___ __________ ___ _________ ___ ________.
_________ ______ _________ _________ ______ ______ ____ __________.
Skip in 10
Posting means transferring the entries recorded in the journal to the respective ledger accounts. The ledger is the principal book of accounts in which all transactions relating to a particular account are collected at one place. Proper posting is essential for determining the balance of each account and for preparing the trial balance and final accounts. The main rules regarding posting of journal entries into ledger accounts are as follows: 1. Posting of debit aspect: The account which is debited in the journal is debited in the ledger. The amount is entered on the debit side of that account. In the particulars column, the name of the corresponding account credited in the journal is written, usually preceded by “To”. 2. Posting of credit aspect: The account which is credited in the journal is credited in the ledger. The amount is entered on the credit side of that account. In the particulars column, the name of the corresponding account debited in the journal is written, usually preceded by “By”. 3. Separate posting for each account: Every account affected by a journal entry must be posted separately in the appropriate ledger account. Thus, a transaction involving two or more accounts requires posting in all the accounts concerned. 4. Date of transaction: The date mentioned in the journal is entered in the date column of the ledger account. The same date should be used for both
_____ _____ _______ _____ _____ _________ _____ ___ _______ _______ ___._________ ______ ________ _________ _____ ______ ______ _________ __________ ____ _______.
_____ ___ ______ ____ __________ ____ ____ ____ __________ ________ ___.
________ __________ _________ _______ ______ ___ _______ __________.
_______ ________ _________ ______ ____ _____ _____.
_____ ____ __________ ____ _________ __________ __________ ________ __________ ____.
____ ______ _______ _______ ___ __________ ________ __________ ______ ________ ____ _____.
___ ______ ______ _____ ___ _____ __________ ____ ___ ________ _________ ________.
___ _________ ___ ________ ________ ________ ____ ____ ______ ___ _________ ________.
____ _____ _____ _______ __________ _______ _______ ____ ____ ____ ________ __________.
___ _________ __________ _________ _____ _________ __________.
___ ______ ___ __________ ________ __________ ____ _______ ______ __________ ___.
____ _______ _________ _____ __________ ________ _______ _______ ________ ____.
____ ___ _______ _________ _________ ____.
___ ____ _________ __________ ___.
___ ___ _____ ________ __________ _________ _________.
____ ____ _______ _______ _____ ___ _________.
____ ________ _______ __________ ___ ______ _______.
________ ______ _________ ____ _______ __________ ___ _______ ____ ___.
_________ ______ ________ ___ _____ _____ ___ ___ _____ _______ _____.
__________ ______ ___ _______ _________ ______.
____ __________ ______ _______ _______ ________ ___ __________.
_______ __________ _________ _______ ____ ____ ________ ______ ________ ______.
__________ ______ ____ ___ _____ ________ ___ _____ _______ ________.
______ _________ ______ ________ ___.
___ ____ ____ _______ _________ _______ _____ _____ _____ _______.
_____ ____ ______ ____ ______ ___ _______ ___.
__________ ____ _____ _________ _________ __________ _________ __________ ______.
__________ _____ ______ _____ ___ _______.
______ _________ ____ ________ ______ _____ _______ ____ _____.
________ ________ ________ __________ ____ __________ ____ __________.
____ _____ _________ _____ ________ _______.
_______ __________ _____ ___ _________.
___ ____ _________ ________ _________ ______ ________ ____ ________.
________ _______ ______ _________ _____ __________ __________.
________ ___ _____ __________ __________ ______ __________ _______ _________.
__________ __________ ____ ____ ____ _________ ____ _____.
_____ ___ ___ ________ ___.
__________ ____ ___ _______ __________ ____.
______ ______ ___ _________ ______ ___ ____ _______.
____ ________ ______ ___ _____ ___ _________ _________.
________ ___ ____ _____ __________.
_______ ____ ____ ____ __________ _____ _____ __________ _____ __________.
________ ________ __________ __________ ___ __________ ___ _________ ___ ________.
_________ ______ _________ _________ ______ ______ ____ __________.
IGNOU ACADEMY
Your IGNOU journey, made easier.
- Solved Assignments
- Study Notes
- Guess Papers
- Question Papers
Continue Reading — It's Free
Sign in with Google to unlock more of this answer.
✓ Free access
✓ Unlock up to 60% of the answer
✓ No payment required
✓ Unlock up to 60% of the answer
✓ No payment required
Quick Google sign-in. No separate registration form.