A Ledger contains a classified summary of a business transactions pertaining to given period.
Posting is the process of transferring the entries from the books of original entries to the ledger.
Separate accounts are opened in it. Debit side is greater than credit side than in this case credit side will be written as balance c/d. credit side is greater than debit side than in this case Debit side will be written as balance c/d. Balance b/d is used to close account.
Format of Ledger
|Date||Particulars||jF||Dr Amount||Cr AMOUNT||Date||Particulars||JF||DR Amount||Cr AMOUNT|
NOTE- When journal entries are written, The next step is to transfer the journal entries information from journal to ledger. This process is called posting.
Ques.1 Prepare the ledger without journal entries
Purchased goods from mohanrs100
Sold goods to Mohan rs900
Dr purchases A/C Cr
|TO Mohan||100||By c/d||100|
|To sales||900||BY PURCHASES||100|
|To c/d||900||By Mohan||900|