Posting to the Ledger.

Sir ledger of this question????
1)Cash a/c-------------dr 50000
To capital a/c 50000
2)ram a/c----------dr 300
To cash a/c 280
To discount received a/c 20
3)cash a/c-----------dr 490
discount allowed a/c- dr 10
To om a/c 500

asked Jul 21, 2015 in Introduction to Accounting by Faizan (28 points) 950 views

1 Answer

0 votes

Let me explain you how to do posting in the ledger:

Posting of journal entry:

Cash A/c              Dr.  50000

     To Capital A/c                     50000

The above entry states that enter Rs.50000 on the debit side of Cash A/c.  This indicates increase in cash and this increase in cash is on account of introduction of capital.  Hence write in the particulars column on the debit side of Cash A/c 'To Capital A/c' and in the amount column Rs.50000.  Similarly in the journal entry Capital A/c is being credited, it means you are being told to enter Rs.50000 in the amount column of capital account on the credit side.  This entry indicates that capital is increasing because proprietor has given cash to the business.  Hence in the particulars column on the credit side of capital A/c write 'By Cash A/c'.

Watch my video on Posting in the ledger:

answered Jul 21, 2015 by jbsclasses (3,971 points)
Journal entry:-
Closing stock 15000  ?????
The journal entry for closing stock and its explanation is given at the link given below::
Closing Stock A/c   Dr   15000

  To Trading A/c                             15000