Ledger | Class 11 | Accountancy | All Basics

Rajat Arora・2 minutes read

The text provides a recipe for homemade chocolate chip cookies and detailed instructions on how to prepare them. Additionally, it explains the process of ledger posting in accounting, highlighting the creation of separate accounts for different transaction types, practical examples, and the balancing of ledgers.

Insights

  • Ledger posting in accounting involves recording transactions in specific accounts like cash, purchases, and sales, with columns for date, particulars, JF (journal folio), and amount, emphasizing the importance of accuracy and organization in financial record-keeping.
  • Balancing a ledger requires subtracting the smaller side from the larger side to ensure accuracy in financial statements, with practical examples and exercises provided to reinforce the concept and demonstrate its application in real-world scenarios, highlighting the significance of maintaining balanced accounts for financial integrity.

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Recent questions

  • How do you make chocolate chip cookies?

    Combine butter, sugars, eggs, vanilla, flour, baking soda, water, salt, and chocolate chips. Bake at 350°F for 10 minutes.

  • What are the ingredients for chocolate chip cookies?

    Butter, white sugar, brown sugar, eggs, vanilla extract, flour, baking soda, water, salt, chocolate chips.

  • What is ledger posting in accounting?

    Ledger posting involves recording transactions in separate accounts, like cash to capital or purchases to cash, to track financial activities.

  • What is a ledger in accounting?

    A ledger is where transactions are recorded, with columns for date, particulars, JF (journal folio), and amount to maintain financial records.

  • How do you balance a ledger?

    To balance a ledger, subtract the smaller side from the larger side after posting transactions like purchases and sales to nominal accounts.

Related videos

Summary

00:00

Homemade Chocolate Chip Cookies Recipe

  • Recipe for homemade chocolate chip cookies
  • Ingredients: 1 cup butter, 1 cup white sugar, 1 cup packed brown sugar, 2 eggs, 2 teaspoons vanilla extract, 3 cups all-purpose flour, 1 teaspoon baking soda, 2 teaspoons hot water, 1/2 teaspoon salt, 2 cups semisweet chocolate chips
  • Instructions: Preheat oven to 350 degrees F (175 degrees C). Cream together butter, white sugar, and brown sugar until smooth. Beat in the eggs one at a time, then stir in the vanilla. Dissolve baking soda in hot water, add to batter along with salt. Mix in flour until just incorporated, then fold in chocolate chips. Drop by large spoonfuls onto ungreased pans. Bake for about 10 minutes in the preheated oven, or until edges are nicely browned.

00:00

"Mastering Ledger Posting in Commerce Pro"

  • Day 32 of the 100 days commerce pro series focuses on ledger posting.
  • Ledger is explained as the account where transactions are recorded.
  • Various transactions like cash to capital, purchases to cash, etc., are highlighted.
  • Ledger creation involves columns for date, particulars, JF, and amount.
  • JF stands for journal folio, indicating the journal page number.
  • Ledger posting involves creating separate accounts for each transaction type.
  • Practical examples of ledger posting are provided for cash transactions.
  • Balancing the ledger involves subtracting the smaller side from the larger side.
  • A practical exercise is given to demonstrate ledger posting for multiple transactions.
  • Nominal accounts like purchases and sales are not balanced in ledger posting.
  • The process of ledger posting is reiterated for clarity and understanding.
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