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    General Ledger 02.29.2020 (E)

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    John Carlo Amodia
    The general ledger is a book where journal entries are transferred during the posting process, which is the second step of the accounting process. During posting, transactions are sorted by account type, class, and nature, with each account having its own ledger sheet. For example, a sample transaction of Mr. Q investing ₱500,000.75 cash to start his business Q Mart on February 24, 2020 would be posted to the general ledger.

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    General Ledger 02.29.2020 (E)

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    John Carlo Amodia
    11 views14 pages
    The general ledger is a book where journal entries are transferred during the posting process, which is the second step of the accounting process. During posting, transactions are sorted by account type, class, and nature, with each account having its own ledger sheet. For example, a sample transaction of Mr. Q investing ₱500,000.75 cash to start his business Q Mart on February 24, 2020 would be posted to the general ledger.

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    General Ledger 02.29.2020 (e) (1).pptx

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    The general ledger is a book where journal entries are transferred during the posting process, which is the second step of the accounting process. During posting, transactions are sorted by account type, class, and nature, with each account having its own ledger sheet. For example, a sample transaction of Mr. Q investing ₱500,000.75 cash to start his business Q Mart on February 24, 2020 would be posted to the general ledger.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    11 views14 pages

    General Ledger 02.29.2020 (E)

    Uploaded by

    John Carlo Amodia
    The general ledger is a book where journal entries are transferred during the posting process, which is the second step of the accounting process. During posting, transactions are sorted by account type, class, and nature, with each account having its own ledger sheet. For example, a sample transaction of Mr. Q investing ₱500,000.75 cash to start his business Q Mart on February 24, 2020 would be posted to the general ledger.

    Copyright:

    © All Rights Reserved
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    general

    ledger
    by Angelo Ellica Jadraque, CPA, MM
    GENERAL
    LEDGER
    After transactions have been recorded in
    the Journal, the journal entries will then
    be transferred to another book called
    “GENERAL LEDGER”. This process is
    called “posting”, i.e., the 2nd step of the
    accounting process.
    - The posting process involves
    classifying of transactions in a way
    that they are sorted as to the
    account type, class, and nature.

    - Each account title with transactions


    during the accounting period shall
    have its own general ledger sheet or
    book.
    HOW IT IS DONE
    Sample Transaction:

    On February 24, 2020, Mr. Q


    invested cash of P500,000.75
    to start the Merchandising
    business of “Q Mart”.
    2020

    Feb
    To Post to General Leger:
    To Post to General Leger:

    2020

    Feb
    To Post to General Leger:

    2020

    Feb
    2020

    Feb
    LET US
    DO

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