POSTING TO LEDGER – Process of recording in the ledger (Book of Final Entry)

ACCOUNT TITLE

Date DEBIT Date CREDIT

PREPARING TRIAL BALANCE

Trial Balance – is a listing of all the balances of the different accounts (assets, liabilities, capital,
drawing, revenues and expenses), as of a given time.

(Name of Business/Corporation/Company)
TRIAL BALANCE
(Date of End of Accounting Period)
ACCOUNTS DEBIT CREDIT
Cash
Notes Receivable
Accounts Receivable
Furniture & Fixtures
Repair Equipment
Building
Land
Accounts Payable
Bonds Payable
Loans Payable
Mr. A, Drawing
Mr. A, Capital
Service Revenue/Sales
Expenses (Rent, Salaries,Utilities) ___________ _____________
TOTALS XXXXXXXXX XXXXXXXXX
TRANSACTIONS:
August 1 – Mr. A Invested P 500,000 cash to start his auto repair shop business.
2 – Bought Repair Equipment costing P 20,000 in cash.
4 – Bought Furniture worth P 50, 000 on accounts.
7 – Mr. A Invested a Building worth P800, 000 and Land worth P1,000,000.
10 – Rendered Service for P60,000 received in cash.
15 – Paid Salaries, P 75,000.
16 – Paid Utilities, P 40,000.
18 – Loaned P 700,000 cash from BPI.
24 – Mr. A withdrew P 5,000 cash for his personal use.
28 – Rendered service for P 120,000 on accounts.