Vous êtes sur la page 1sur 1
Hore again, cash sales at exhibition hall are not recorded. Also, merely getting an onder for {goods snot a transaction tobe entered in sales book 2224 Jounal Proper (Credit transactions that cannot be entered in any other subsidiary book are entered in journal ‘proper. [twill ver purchase or sale of assets, expense accruals rectification entries, adjusting ‘Entries, opening entries and closing entries. The forma of journal properis exactly the same as [Biven in the section 22.1 The entries here recorded inthe same way as shown in that dlustra- 223 Ledger Accounts, posting to ledger accounts and balancing them Ledger is the main book or principal book of account. The entries into ledger accounts travel through the route of journal and subsidiary books. The ledger book contain all accounts viz. ‘assets Habiites incomes or gains, expenses or loses, owner's capital and owner s equity. The Iecgers the book of final entry and henceisa permanent record. There is a systematic way in ‘which transactions are posted into a ledger account. Once the transactions are posted for an ‘ccounting period, the ledger accounts ae balanced (Lethe difference between debit side and ‘ret side is caleulated). These balances are used to wltimately prepare the financial statement like Profit and Loss a/c and Balance sheet. The ledger may also be divided as General ledger land Sub-ledgers While the General Ledger will have all ledger accounts, the sub-led gers will have individual accounts of customers and suppliers. If there are 10 customer, the general ledger wil nathave 10 individual accounts foreach customer. Instead, these 10 customer account ‘will exist in whats calle as’ Receivables or Debtors Ledger’ and the general ledger will have fonly one account tat represents the customers. This is ramed as Debtors Control Account. Similar is the ese of supplier accounts. Such sub-ledgers are necessary for better control over {individual accounts. Also, this will avoid the general ledger from becoming too big, especialy ‘when number of customers and suppliers is lrge. ‘The specimen of atypical ledger account is given below. De ‘Ledger Account i E Fe | amount Re) | Date | Particulars Letusnovr understand the mechanism of posting transaction into the ledger account, Consider ‘he transaction Rent paid in cash for Rs 10000. The joural entry for this transaction would be: Janis Rent a/e De 10000 ToCash a/e 0000 — anne

Vous aimerez peut-être aussi