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MATERIAL
Remember to:
You need to complete this module before you can perform the module
on Preparing Trial Balance.
List of Competencies
Introduction
Learning Outcomes:
Assessment Criteria:
1. Ledger for the list of asset, liability, and equity account titles are
prepared in accordance with the Chart of Accounts.
2. Ledger for the list of income and expense account titles are
prepared in accordance with the Chart of Accounts.
5. Debits & Credits for each ledger account are added correctly.
CONTENT:
Procedures in Transferring Journal Entries to the Ledger
ASSESSMENT CRITERIA:
1. Journal entries are transferred in chronological order.
2. Postings are done with 100% accuracy.
CONDITION:
The students/ trainees must be provided with the following:
Competency Based Learning Materials
Ledger
Calculator
Pencil
Eraser
PC/ Laptop
LCD Projector
Video Clips of Transferring Journal Entries
ASSESSMENT METHODS:
Written test
Demonstration with Oral Questioning
Interview/ Oral Questioning
LEARNING GUIDE
PC/ Laptop
LCD Projector
Speaker
Ledger
5. Perform Task Sheet 2.2-1 Transfer
Pencil
Journal Entries
Eraser
Calculator
6. Evaluate using Performance
Criteria Checklist 2.2-1 Performance Criteria Checklist 2.2-1
Learning Objectives:
Introduction:
The size of the business, the number of transactions, and whether the
accounting system is manual or computerized all affect how often posting
occurs. Ideally, businesses post daily to keep their accounts up-to-date.
Regardless of how often posting is performed, the process remains the same.
As in journalizing a transaction, posting to a ledger account is completed
from left to right. Let’s look at a journal entry for Roadrunner that is ready
to be posted to the ledger.
1. Enter the date of the journal entry in the Date column of the account
debited. Use the date of the journal entry, not the date on which the
posting is done. Write the year and month in the left side of the Date
CBLMs on Date Developed: Document No.
Bookkeeping NC III March 2016
Issued by:
COMPILED BY:
Posting Jennifer O. Page 9 of 29
Andres Revision No.
Transactions
column. It is not necessary to write the year and month for other
postings to the same account on the same page unless the month or
year changes. The day, however, is always entered.
4. Enter the debit amount in the Debit column of the ledger account.
6. Return to the journal and, in the Posting Reference column, enter the
account number of the ledger account to which you just posted the
debit part of the journal entry. Be sure it is entered on the same line
as the debit entry. In this example enter 101 in the Posting Reference
column on the line for Cash in Bank.
7. Repeat steps 1–6 for the credit part of the journal entry.
a. Locate the account to be credited. In this example Maria Sanchez,
Capital, is to be credited.
b. Enter the date.
c. Enter the posting reference on the ledger account form. In this
example, G1 represents the first page of the general journal.
CBLMs on Date Developed: Document No.
Bookkeeping NC III March 2016
Issued by:
COMPILED BY:
Posting Jennifer O. Page 10 of 29
Andres Revision No.
Transactions
d. Enter the credit amount.
e. Compute the new account balance.
f. Enter the account number in the Posting Reference column of the
general journal. In the example enter 301 to show that the credit
was posted to Maria Sanchez, Capital.
1 20-- 1
4 Memorandum 101 4
A.
1. Locate the account to be debited/credited.
2. Enter the date.
3. Enter the posting reference on the ledger account form.
4. Enter the debit/credit amount.
5. Compute the new account balance.
6. Enter the account number in the Posting Reference column of the
general journal.
B.
POST. BALANCE
DATE DESCRIPTION REF. DEBIT CREDIT DEBIT CREDIT
20--
May. 1 G1 10 0 0 0 00 10 0 0 0 00
POST. BALANCE
DATE DESCRIPTION REF. DEBIT CREDIT DEBIT CREDIT
20--
May. 1 G1 10 0 0 0 00 10 0 0 0 00
Steps/Procedures:
1. Following the 6 steps of posting transactions, transfer the following
journal entries to general ledger.
Chart of Accounts
1 2015 1
5 5
7 Cash 10000 7
9 9
10 4 Cash 10000 10
13 Additional Investment 13
14 14
15 10 Furniture and Fixture 80000 15
18 18
19 Cash 75 000 19
22 22
24 Cash 5000 24
26 26
27 16 Cash 10000 27
29 Additional investment 29
30 30
32 Cash 0 9000 32
34 34
35 22 Cash 50000 35
36 Legal Fees 50000 36
38 38
39 28 Cash 50000 39
42 42
43 43
Assessment Methods:
CRITERIA
YES NO
Journal Entries are transferred in chronological order.
Postings are done with 100% accuracy.
Steps/Procedures:
1. Open ledger accounts. (1) Write the account name at the top of the
ledger account form; (2) write the account number on the ledger
account form.
2. Enter the complete date (year, month, and day). Write the word
Balance in the Description column.
CBLMs on Date Developed: Document No.
Bookkeeping NC III March 2016
Issued by:
COMPILED BY:
Posting Jennifer O. Page 19 of 29
Andres Revision No.
Transactions
3. Place a check mark (✓) in the Posting Reference column to show the
amount entered on this line is not being posted from a journal.
4. Enter the balance in the appropriate Balance column. Usually asset,
expense, and owner’s withdrawals accounts have debit balances.
Liability, owner’s capital, and revenue accounts have credit balances.
Chart of Accounts
1 2015 1
5 5
7 Cash 20000 7
9 9
10 4 Equipment 100000 10
11 Cash 25000 11
14 on account 14
15 15
17 Cash 0 10000 17
19 19
20 Cash 5 0000 20
23 23
25 Cash 70000 25
27 27
28 12 Cash 50000 28
30 Additional investment 30
31 31
33 Cash 0 9000 33
35 35
36 15 Salaries and Wages 50000 36
37 Cash 50000 37
39 39
40 Cash 100000 40
43 43
1 2015 1
3 Cash 50000 3
4 Partial Payment of Account 4
5 5
7 Cash 40000 7
9 9
10 18 Cash 25000 10
13 13
17 17
19 Cash 50000 19
21 21
23 Cash 50000 23
25 25
27 Cash 50000 27
29 29
30 Cash 9000 30
33 33
37 37
38 Cash 100000 38
40 Collections 40
41 41
42 42
43 43
Assessment Methods:
CRITERIA YES NO
1. Ledger for the list of asset, liability, and equity
account titles are prepared in accordance with the
Chart of Accounts.
2. Ledger for the list of income and expense account
titles are prepared in accordance with the Chart of
Accounts.
3. Journal entries are transferred in chronological order.
Steps/Procedures:
1. Before using the calculator, slide its hard
case downwards to remove it, and then affix
the hard case to the back of the
calculator as shown in the illustration
below.
2. Press ON to turn on the calculator.
3. Perform the following:
A. Use the +, -, x, and ÷ keys to perform arithmetic calculations.
Compute the following:
423 + 225 =
346 -212 =
231 x 18 =
250÷ 50 =
B. Percent Calculations
4. Write all your answers on your paper. You will present this to your
trainer.
5. Check your performance using the Performance Criteria Checklist.
6. Present your work to your trainer.
Assessment Methods:
CRITERIA
YES NO
Did you remove the cover of the calculator?
Were you able to turn on the calculator easily?
Were you able to press the right number keys?
Were you able to use the basic operations to perform
arithmetic calculations?
Were you able to calculate percentage?
Were you able to compute the answers accurately?
Books
Mejorada, N., Bookkeeping, JMC Press, Inc., 2000
Wild, J., Fundamental Accounting Principles, McGRAW-HiILL Philippines, 2008
Websites:
www.accountingexplained.com
www.myaccountingcourse.com
www.accountingcoach.com