Posting to General

Ledger (Step 3)
General Journal
vs General
Ledger
General Journal – Chronological order
of the entity’s transaction
General ledger – grouping of entity’s
account
General Journal

Bought goods bought on December 1, 2021

12/1/2021 Inventories 15,000
Accounts payable 15,000
Partially paid the inventories bought on December 1, 2021
12/5/2021 Accounts payable 5,000
Cash 5,000
Cash sales were maid to Customer A worth 10k on December 10, 2021
12/10/2021 Cash 10,000
Sales 10,000
General Ledger
  Is a list of all accounts with their respective debit or
Trial balance credit balances. It is prepared to verify the equality
of debits and credits in the ledger at the end of
(Step 4) accounting period
 This is a device to help minimize accounting errors.
Debit and credit side should be always equal
COMPREHENSIVE PROBLEM
 Journalize the following transactions

Create T Account

Instruction
Post it to General Ledger

Create trial balance

Henry started a photography business on oct 2022. Below
are the transactions for the year 2022

Oct 7 – Ordered
Oct 1 - Deposited 350k
Journal entry: additional photography
in the business
equipment for 75k

Oct 3 – Paid 2 month’s

rent in advance for Journal entry: Journal entry:
40.5k

Oct 5 – Transferred to
business personal
Journal entry:
photography equipment
worth 129k
Oct 8 – Purchased office equipment for cash 54k
Journal entry:
Oct 10 – Received and paid office equipment ordered on oct 7 for 75k
Journal entry:
Oct 12 – Purchased photography supplies on credit 21k
Journal entry:
Oct 13 – Received cash for previously unbilled portraits 11.4k
Journal entry:
Oct 17 – Billed customers for portraits 22.5k
Journal entry:
Oct 19 – Paid 50% of supplies purchased worth 10.5k
Journal entry:
Oct 25 – Paid the electricity bill 3,600
Journal Entry
Oct 28 – Received the payments from customer billed 7.5k
Journal entry:
Oct 29 – Paid salaries worth 12k
Journal entry:
Oct 30 – Received an advance payment from a customer 1.5k
Journal entry:
Oct 31 – withdrew 16k from the business