Posting To Ledger

HOW TO USE THIS COMPETENCY – BASED LEARNING
MATERIALS
Welcome to the learner’s guide for the module: Posting Transactions .

This learning material contains activities for you to complete.
The unit of competency “Post Transactions ” contains the knowledge,

skills and attitudes required for BOOKKEEPING NC III as Core Unit of
Competency.
You are required to go through a series of learning activities in order to

complete each learning outcomes of the module. In each learning outcome
there do Instruction Sheets to help you better understand the required
activities. Follow these activities on your own and answer the self-check at
the end of each learning outcome. You may remove a blank answer sheet at
the end of each module (or get from your facilitator/trainer) to write your
answers for each self-check. If you have questions, don’t hesitate to ask your
facilitator for assistance.
Recognition of Prior Learning (RPL)
You may already have some or most of the knowledge and skills covered
in this learner’s guide because you have:
 Been working for some time

 Already completed training in this area
If you can demonstrate to your trainer that you are competent in a particular
outcome, you don’t have to do the same training again.
Talk to your trainer about having them formally recognized. If you have a
qualification or certificate of competence from previous training, show it to your
trainer. If the skills you acquired are still current and relevant to the unit/s of
competency they may become part of the evidence you can present for RPL. If
you are not sure about the accuracy of your skills discuss this with your trainer
Code No. Developed by: Date Developed: Page #

Post Transactions 1
HCS 412302 Dorothea B. Cavalles June 5, 2014
Inside this learner’s guide you will find the activities for you to complete
and at the back are the relevant information sheets for each learning
outcome. Each learning outcome may have more than one learning activities.
At the back of this learner’s guide is a Learner’s Diary. Use this diary to
record important dates, jobs undertaken and other workplace events that will
assist you in providing further details to your trainer or an assessor. A
Record of Achievement is also provided for your trainer to complete once
you complete the module.

Post Transactions 2
UNIT OF COMPETENCY : POST TRANSACTIONS
MODULE TITLE : POSTING TRANSACTIONS
MODULE DESCRIPTOR : This module covers the knowledge, skills, and

attitudes in posting transactions manually for all
types of business organizations and business
activities.
NOMINAL DURATION : 16 hours
SUMMARY OF LEARNING OUTCOMES:
Upon completion of this module the students/ trainees will be able to:
LO1. Prepare ledger
LO2. Transfer journal entries
LO3. Summarize ledger

Post Transactions 3
LO1. PREPARE LEDGER
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
CONTENT:
 Posting Procedure for all types of business organization and activities.
CONDITIONS:
The students/trainees must be provided with the following:
 Calculator
 Ledger
 Learning Materials
 Pencil
 Eraser
 Ruler
 Chart of Accounts of all types of business organizations.
METHODOLOGIES:
 Group discussion
 Interaction
 Lecture
 Practical exercises
ASSESSMENT METHODS:
 Written test
 Practical/performance test

Post Transactions 4
LO2. TRANSFER JOURNAL ENTRIES
1. Journal entries are transferred in chronological order

2 Postings are done with 100% accuracy
CONTENT:
 Posting Procedure for all types of business organizations.
CONDITIONS:
 Calculator
 Pencil
 Eraser
 Ledger
 Ruler
METHODOLOGIES:
 Interaction
 Lecture
ASSESSMENT METHODS:
 Written test
 Interview

Post Transactions 5
LO3. SUMMARIZE LEDGER
1. Debits & Credits for each ledger account are added accurately.
2. Balances are extracted with 100% accuracy.
CONTENT:
 Balance Extraction
CONDITIONS:

 Calculator
 Paper
 Pencil
 Eraser
 Ledger
METHODOLOGIES:
 Interaction
 Lecture
 Practical exercise
ASSESSMENT METHODS:
 Written test

Post Transactions 6
INFORMATION SHEET
Posting procedure for all types of business organization

and activities
Posting is the second step in accounting process. It is the process in

transferring journal entries to the ledger. It is the updating the ledger
accounts for the effects of the transactions recorded in the journal. It is a
careful copying of what been footed in the ledger.
THE GENERAL LEDGER
The General Ledger is a book that group items or accounts of the same
kind, class and nature. The two sides of the ledge r which is called Debit
side and Credit side contained the following column:
Parts of the General Ledger
Date Column - shows the date of the transaction that occurred

as recorded in the Journal
Particulars - shows a brief description of the transactions
Folio - shows the Page number of the Journal where
entries are taken from
Money Column - the debit money column shows the amount that are
transferred from the Debit money column the journal while the credit
money column shows the amounts that are transferred from credit money
column

Post Transactions 7
1. Sample of General Ledger ( to be use in manual accounting )
Year Particular F Debit Year Particular F Credit

Month Day Month Day
2. Sample of General Ledger- ( to be used under computer based system)

In a computer –based system , a three money column ledger is used.
Footing is no longer necessary because the account maintains a
running balance.
Year Particular F Debit Credit Balance

Month Day

Post Transactions 8
POSTING TO THE LEDGER
The process of transferring entries from the Journal to the Ledger. This
is also called Sorting Process which means putting each value in a certain
place according to its kind , class and nature. This refer to Classifying, the
second phase in Accounting.
Showing the Illustrative Problem , the DCK Car Services
Steps in Posting Journal Entries to the Ledger
1. The first account in the General Journal entry is “Cash “ , turn the
ledger to the page where the account , turn the ledger to the page
where the account ” Cash” is located .
2. In the Ledger of the account “Cash “ , enter in the date column at the
left side (Debit ) of the said ledger the date when the transaction
occurred as shown in the journal
3. In the particular column of the ledger, state briefly the nature of the
transaction, how cash existed in the record.
4. In the Folio Column of the ledger, write down the page of the journal
where the account “Cash” entry was taken from the simultaneously ,
write down in the Folio column, of the journal the account or page
number assigned to the account “Cash “ This is called cross-
referencing or cross- indexing.
5. Enter in the Debit money column of the ledger, “Cash” the amount
and the same procedure is followed in posting the next amount and
subsequent journal entries.

Post Transactions 9
ILLUSTRATION IN POSTING PROCEDURE
General Journal
Page 1
Year Particular F Debit Credit
2011
Month Date
April 1 Cash GL1 500,000
Drew Kinley, Capital GL 7 500,000
Self Check #1
General Ledger
Cash Account No. 101
Year F Debit Year Particular F Credit
2011 Particul 2011
ar
Month Day Month Day
Apr 1 JE 500,000
1
DK Cavalles, Capital Account NO. 301

2011 Particul 2011
ar
Month Day Month Day
Apr 1 JE 1 500,000

Post Transactions 10
FOOTING THE LEDGER
Footing is the process of adding each of the two amounts of a

columns of an account or item in the general ledger. This is done every
after end of the month.
Illustration on Footing
ASSETS
Cash Account No. 101

2011 Particular 2011
Month Day Month Day

Apr 1 Initial 7 500,000 Apr 4 Purchases JE 20,000
investment 1
3 income 9 45,000 8 payment 2,500

8 income 9 35,000 11 withdrawals 3,000
12 Partial 4,000
payment
25 utilities 7,300
30 rent 6,500
30 salaries 16,000
580,000
520,700 580,000 59,300
Account Receivables Account No. 102

Month Day Month Day

Apr 6 Service on 3 12,000
account

Furniture & Fixtures Account No. 103

Month Day Month Day

Apr 2 15,000 1
Office Equipment Account No. 104

Month Day Month Day

Apr 4 4 20,000
LIABILITIES
Accounts Payable Account No. 201

Month Day Month Day

Apr 12 6 4,000 Apr 2 JE 15,000
1
11,000

OWNER’S EQUITY
DKCavalles, Capital Account No. 301

Month Day Month Day

Apr 1 500,000
DK Cavalles, Drawing Account No. 302

2011 Particula 2011
r
Month Day Month Day
Apr 11 3,000
INCOME
Service Income Account No. 401

Month Day Month Day

Apr 3 7 45,000
6 7 12,000
8 7 35,000
92,000

EXPENSES
Advertisement Expense Account No 501

Month Day Month Day

Apr 8 10 2,500
Utilities Expense Account No. 502

Month Day Month Day

Apr 25 11 7,300
Rent Expense Account No. 503

Month Day Month Day

Apr 30 12 6,500
Salaries Expense Account No. 504

Month Day Month Day

Apr 30 13 16,000

 A computer –based system where a three money column ledger is used
footing is no longer necessary because the account maintain a running
balance.
DKC Car Services

(Sample of a computer-based system )
CASH Account No. 101

2011
Month Day
April 1 Investment JE1 500,000

3 Services JE1 45,000 545,000
4 Purchases 20,000 525,000
8 Services 35,000 560,000
8 Utilities 2,500 557,500
11 Drawings 3,000 554,500
12 Payment 4,000 550,500
25 Utilities 7,300 543,200
30 Rent 6,500 536,700
30 Salaries 16,000 520,700
=======

SELF- CHECK
TEST 1- MULTIPLE CHOICE
Direction : In a separate sheet of paper write the letter of the correct

answer in each of the given question
1. The process of transferring entries from the journal to the edger

a. Posting c. Sorting
b. Footing d. Classifying
2. The double line drawn after the total of a trial balance

a. Double file c. Double entry
b. Double rule d. Cross reference
3. Contain list of account titles

a. List of accounts c. Chart of Accounts
b. Account titles d. Account list
4. Adding the figures in debit and credit columns

a. Balances c. Footing
b. Posting d. Recording
5. The accounts that remained open after footing the ledger

a. Sliding error c. footing error
b. Open account d. posting error
6. Posting an entry twice in the general ledger will cause the trial
balance to be:
a. In – balance c. Out of balance
b. Force balance d. Balance
7. Statement that summarizes the debit and credit entries.

a. Income Statement c. Statement of Cash flows
b. Balance Sheet d. Trial Balance
8. Shows the page number of a journal where the entries are taken
from
a. Pattern c. Ledger
b. Folio d. Chart of accounts
9. Prepaid expenses is considered as :

a. Asset c. Owner’s Equity
b. Liability d. Expenses

10.Skeleton of a ledger.
a. Journal c. T - Accounts
b. Voucher d. Check
11.Debit means :
a. Left side c. Value received
b. Right side d. Value parted with
12.Constitute a verbal promise to pay

a. Service income c. Accounts receivable
b. Accounts payable d. Notes payable
13.The series of business activities is referred to as:

a. Business operation c. Business matter
b. Business activities d. Business investment
14.The appropriate account title for money that has been received
in advance but services has to be rendered in the future.
a. Accrued income c. Accrued expense
b. Service income d. Unearned income
15.Complete list of account can be seen in the :

a. Income Statement c. Statement of Cash flows
b. Balance Sheet d. Chart of Accounts
16.The second step in accounting process

a. Journalizing c. Preparation of trial Balance
b. Posting d. Preparation of Financial
report
17.Account title for expenses paid in advance

a. Accrued expenses c. Prepaid expenses
b. Unearned expenses d. Advance expenses
18.Accumulated depreciation is also called as:

a. Temporary account c. Valuation account
b. Permanent account d. Nominal account
19.Financial obligation of the business that requires payment for

more than 1 year
a. Mortgage payable c. Account payable
b. Notes payable d. Expenses account
20.Shows the amount that are transferred from the Debit money
columns of the journal
a. Date columns c. Folio
b. Particulars d. Money column

SELF- CHECK
TEST II – TRUE OR FALSE

Direction : In a separate sheet of paper answer True if the questions
given below is correct and False if it is incorrect.
______1. Summarizing refers to classifying

______ 2..Prepaid expenses is an asset account.
______ 3. Financial statements has six elements
______.4. Accrued income is a pre collected income.
______ 5. Accumulated depreciation is a contra asset
______ .6. Land is an exception of a depreciable asset
______ 7.The general ledger is a book of original entry
_______8.Hopeless for collection is a worthless account
. _______9..A= L+OE is an expanded accounting equation
______ 10.Profit is the primary motive to engage in business
. _______11.Profit is the primary motive to engage in business
______ 12.Real accounts are composed of expense account
______ 13. Income statement account are temporary accounts
______ 14.Corporation is the business owned by two or more persons.
______ 15.In business concept, business and owners has separate
personalities
______16. Financial information must be available at the time of need.
______17.Financial statement is the end product of accounting process
_____ 18.The name of the customer written off must be transferred to
active accounts.
______ 19. Provision for uncollectible account is deductible for income tax
purposes.
______ 20.Physical depreciation is a result to the ultimate retirement of the
property due to frequent use.

SELF- CHECK
TEST III – ENUMERATION

Direction : In a separate sheet of paper write the answer on the
questions given below
Enumerate the column of the General Ledger.

1.
2.
3.
4.
5.
6.
7.
8.
TEST IV - DIFFERENTIATE POSTING FROM FOOTING
Direction : In a separate sheet of paper write the answer on questions

given below

SELF CHECK
TASK SHEET
Title : Post Transactions

Performance Objective : In a given condition you should be able to perform the
required standard in the module : Post Transactions”
Supplies/ Materials needed : Worksheet, Pencils, Erasers
Equipment : Calculator, Stapler
Direction :Read the questions carefully. Write your answer in the a separate sheet
of paper. Allocate hours : 3 hours
Procedure required :
1. Ledger for the list of asset, liability, equity , income and
expense account titles in accordance with the Chart of
Accounts
2. Foot the amounts of the two columns and finds the difference
3. Summarize the ledger
Demonstrated Problem:
1) Sept 1, 2013- Lailah Jan opened an Advertising Center business and put up an initial
investment of Cash in Bank P250,000 , and Zerox machine 650,000.
2) Sept 3 - Purchased on account Furniture & fixture - P14,000
3) Sept 4 - Cash purchased of Supplies - 15,000
4) Sept 5 - Received cash on services rendered - 95,,000
5) Sept 7 - Paid licenses due to the government - 12,000
6) Sept 9 - Paid insurance for the month - 1,400
7) Sept 12 - Rendered service on account n/ 30 - 130,000
8) Sept 15 - Bought on account Computer set at Computer Trade
set and promissory was issued - 18,000
9) Sept 17 - Withdraw for personal expenses - 3,000
10) Sept 20 - Partial collection from customer for services
rendered on account - 80,000
11) Sept 21 - Full payment to Computer Trade and get back
the promissory note - 18,000
12) Sept 25 - Paid Utilities for the month - 6,000
13) Sept 26 - Partial payment to creditor - 3,000
14) Sept 29- Paid Rent for the month - 8,000
15) Sept 30 - Paid salaries - 12,000

ANSWER KEY
TEST 1- MULTIPLE CHOICE

Direction : In a separate sheet of paper write the letter of the correct
answer in each of the given question
1. a
2. b
3. c
4. a
5. b
6. c
7. d
8. b
9. a
10. c
11. a
12. b
13. b
14. d
15. d
16. b
17. c
18. c
19. b
20. d

ANSWER KEY
TEST II – TRUE OR FALSE

Direction : In a separate sheet of paper answer TRUE if the questions
given below is correct and FALSE if it is incorrect.
1. FALSE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
6. TRUE
7. FALSE
8. TRUE
9. TRUE
10. TRUE
11. TRUE
12. FALSE
13. TRUE
14. FALSE
15. TRUE
16. TRUE
17. TRUE
18. FALSE
19. TRUE
20. TRUE

ANSWER KEY
TEST III
Direction : In a separate sheet of paper write the answer on the
questions given below
Enumerate the column of the General Ledger.

1. Date
2. Particulars
3. Folio
4. Debit
5. Date
6. Particulars
7. Folio
8. Credit
TEST IV - DIFFERENTIATE POSTING FROM FOOTING
Direction : In a separate sheet of paper write the answer on questions

given below :
Posting is the process of transferring entries from the Journal to the

Ledger while Footing is the process of adding each of the two amounts
columns of an account in the general ledger and finding their balances
thereof.

ANSWER KEY
TASK SHEET
Lailah Jan Advertising

Chart of Accounts
September 30, 2013
Balance Sheet Accounts Income Statement Accounts

ASSET INCOME
Page Account Page Account

No. No. No. No.
1 001 Cash In Bank

2 002 Zerox Machine 11 031 Service Income
3 003 Accounts Receivable
4 004 Furniture & Fixture
5 005 Supplies
6 006 Computer Set
LIABILITIES EXPENSES
7 011 Account Payable 12 041 license expense

8 012 Notes Payable 13 042 Insurance expense
14 043 Utilities expense
15 044 Rent expense
16 045 Salaries expense
OWNER’S EQUITY
9 021 Lailah Jan , Capital

10 022 Lailah Jan, Drawing

ASSET ACCOUNTS
Year Particular F Debit Year Particular F Credit

2013 2013
Month Day Month Day

Sept 31 investment 1 250,000 Sept 3 purchases 5 15,000
5 income 1 95,000 7 licenses 12 12,000
1
20 collections 3 80,000 9 insurance 13 1,400
17 Drawings 10 3,000
21 payment 6 18,000
25 utilities 14 6,000
26 payment 4 3,000
29 rent 15 8,000
30 salaries 16 12,000
425,000
346,600 425,000 78,400
ZEROX MACHINE Account No. 002

Month Day Month Day

Sept 1 650,000
ACCOUNTS RECEIVABLES ACCOUNTS Account No. 003

Month Day Month Day

Sept 20 80,000 Sept 12 130,00
50,000

ANSWER KEY- TASK SHEET
FURNITURE & FIXTURE Account No. 004

Month Day Month Day

Sept 3 14,000
SUPPLIES Account No. 005

Month Day Month Day

Sept 4 15,000
COMPUTER SET Account No. 006

Month Day Month Day

Sept 15 18,000

ANSWER KEY- TASK SHEET
LIABILITIES ACCOUNTS
ACCOUNT PAYABLES Account No. 011

Month Day Month Day

Sept 26 3,000 Sept 3 14,000
11,000
NOTES PAYABLES Account No. 012

Month Day Month Day

Sept 21 18,000 Sept 15 18,000
000
OWNER’S EQUITY ACCOUNTS
LAILAH JAN, CAPITAL ACCOUNT No. 021

Month Day Month Day

Sept 1 Initial 900,000
investment

Month Day Month Day
Sept 26 3,000 Sept 3 14,000
ANSWER KEY - TASK SHEET
LAILAH JAN, DRAWINGS Account No. 022

Month Day Month Day

Sept 17 3,000
INCOME
SERVICE INCOME Account No. 031

Month Day Month Day

Sept 5 Service income 95,000
12 Service on
account 130,000
225,000
EXPENSES ACCOUNTS
License Expense Account No. 041

Month Day Month Day

Sept

ANSWER KEY - TASK SHEET
INSURANCE EXPENSE Account No. 042

Month Day Month Day

Sept 9 3,000
UTILITIES EXPENSE Account No. 043

Month Day Month Day

Sept 25 6,000
RENT EXPENSE Account No. 044

Month Day Month Day

Sept 29 8,000
SALARIES EXPENSE Account No. 045

Month Day Month Day

Sept 30 12,000

ANSWER KEY – TASK SHEET
COMPUTER BASED SYSTEM

2013
Month Day
Sept 1 Investment 1 250,000
3 Purchases 4 15,000 235,000
5 Services 11 95,000 330,000
7 Expenses 12 12,000 318,000
9 Expenses 13 1,400 316,600
15 Drawings 10 3,000 313,600
20 Collections 3 80,000 393,600
21 Payment 6 18,000 375,600
25 Expenses 14 6,000 369,600
26 Payment 5 3,000 366,600
29 Expenses 15 8,000 358,600
30 Expenses 16 12,000 346,600
Record of Achievement

Learner’ Diary
C
Record important dates, jobs undertaken and other workplace events that will
assist you in providing further details to an Assessor.
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Module: Posting Transaction
LO #1 PREPARE LEDGER
PERFORMANCE CRITERIA:
1. Ledger 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 Account
Comments:
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Learner has satisfied the above performance criteria . ..................................................
Learner’s signature: ......................................................................................................
Trainer’s signature: .......................................................................................................
Date: ............................................................................................................................

Record Achievement
Module: Posting Transactions
LO #2: TRANSFER JOURNAL ENTRIES
1. Journal entries are transferred in chronological order
2. Postings are done with 100% accuracy
Comments
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Learner has satisfied the above performance criteria:

Learner’ssignature:......................................................................................................
Trainer’s signature:......................................................................................................
Date: ............................................................................................................................

Module: Posting Transactions
LO #3: SUMMARIZE LEDGER
3. Debits & Credits for each ledger account are added correctly.
4. Balances are extracted with 100% accuracy
Comments:
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Learner has satisfied the above performance criteria: ..................................................

Learner’s signature: ......................................................................................................
Trainer’s signature: .......................................................................................................
Date: ............................................................................................................................


Posting To Ledger

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HOW TO USE THIS COMPETENCY – BASED LEARNING

Welcome to the learner’s guide for the module: Posting Transactions .

The unit of competency “Post Transactions ” contains the knowledge,

You are required to go through a series of learning activities in order to

Recognition of Prior Learning (RPL)

 Been working for some time

Code No. Developed by: Date Developed: Page #

Code No. Developed by: Date Developed: Page #

MODULE TITLE : POSTING TRANSACTIONS

MODULE DESCRIPTOR : This module covers the knowledge, skills, and

NOMINAL DURATION : 16 hours

SUMMARY OF LEARNING OUTCOMES:

LO1. Prepare ledger

LO2. Transfer journal entries

LO3. Summarize ledger

Code No. Developed by: Date Developed: Page #

 Posting Procedure for all types of business organization and activities.

The students/trainees must be provided with the following:

Code No. Developed by: Date Developed: Page #

1. Journal entries are transferred in chronological order

 Posting Procedure for all types of business organizations.

The students/trainees must be provided with the following:

Code No. Developed by: Date Developed: Page #

The students/trainees must be provided with the following:

Code No. Developed by: Date Developed: Page #

Posting procedure for all types of business organization

Posting is the second step in accounting process. It is the process in

THE GENERAL LEDGER

Parts of the General Ledger

Date Column - shows the date of the transaction that occurred

Code No. Developed by: Date Developed: Page #

Year Particular F Debit Year Particular F Credit

2. Sample of General Ledger- ( to be used under computer based system)

Year Particular F Debit Credit Balance

Code No. Developed by: Date Developed: Page #

Showing the Illustrative Problem , the DCK Car Services

Steps in Posting Journal Entries to the Ledger

Code No. Developed by: Date Developed: Page #

DK Cavalles, Capital Account NO. 301

Code No. Developed by: Date Developed: Page #

Footing is the process of adding each of the two amounts of a

Cash Account No. 101

Year F Debit Year Particular F Credit

Month Day Month Day

3 income 9 45,000 8 payment 2,500

Account Receivables Account No. 102

Year F Debit Year Particular F Credit

Month Day Month Day

Code No. Developed by: Date Developed: Page #

Year F Debit Year Particular F Credit

Month Day Month Day

Office Equipment Account No. 104

Year F Debit Year Particular F Credit

Month Day Month Day

Accounts Payable Account No. 201

Year F Debit Year Particular F Credit

Month Day Month Day

Code No. Developed by: Date Developed: Page #

Year F Debit Year Particular F Credit

Month Day Month Day

DK Cavalles, Drawing Account No. 302

Year F Debit Year Particular F Credit

Year F Debit Year Particular F Credit