Ledger Three Marks Questions

11th Standard

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Accountancy

Time : 00:45:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. Distinguish between journal and ledger.

  2. What is ledger? Explain its utilities.

  3. How is posting made from the journal to the ledger?

  4. Explain the procedure for balancing a ledger account.

  5. The following balances appeared in the books of Vinoth on Jan1, 2018
    Assets: Cash Rs.40,000; Stock Rs.50,000; Amount due from Ram Rs.20,000; Machinery Rs.40,000 Liabilities: Amount of due to Vijay Rs.10000 Pass the opening journal entry an deposit them to Vinoth's Capital account.

  6. Prepare cash account from the following transactions for the month of January 2018. (Direct Ledger Posting)

      Jan 1    Commenced business with cash Rs 62,000  
    3    Goods purchased for cash Rs 12,000
    10    Goods sold for cash Rs 10,000
    12    Wages paid Rs 4,000
    25    Furniture purchased for cash Rs 6,000
  7. On 15th March 2017, Ramesh paid Rs 13,800 in full settlement of his account Rs 15,000 due to his creditor Dinesh. Pass journal entry and prepare ledger accounts.

    In the books of Ramesh Journal entry
     Date   Particulars   L.F.   Debit Rs   Credit Rs 
        2017        
     March 15    Dinesh A/c    Dr.   15,000  
        To Cash A/c     13,800
        To Discount received A/c         1,200
       (Paid Dinesh in full settlement of his account)        
  8. Explain the significance of debit and credit balances of various types of accounts.

  9. What are the steps in posting?

  10. Explain the posting of a compound journal entry with an example.

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