PPT - Journal, Ledger and Trial Balance B Com Notes | EduRev

Accountancy and Financial Management

B Com : PPT - Journal, Ledger and Trial Balance B Com Notes | EduRev

 Page 1


JOURNAL,LEDGER AND 
TRIAL BALANCE
Page 2


JOURNAL,LEDGER AND 
TRIAL BALANCE
?
Journal means a daily record of business transactions. Journal 
is a book of original entry because transaction is first written 
in the Journal from which it is posted to the ledger.
JOURNAL
Page 3


JOURNAL,LEDGER AND 
TRIAL BALANCE
?
Journal means a daily record of business transactions. Journal 
is a book of original entry because transaction is first written 
in the Journal from which it is posted to the ledger.
JOURNAL
?
Increase            Debit
ASSET        
Decrease          Credit
Increase            Credit
LIABILITY
Decrease           Debit
Increase            Debit
EXPENSE
Decrease           Credit
Page 4


JOURNAL,LEDGER AND 
TRIAL BALANCE
?
Journal means a daily record of business transactions. Journal 
is a book of original entry because transaction is first written 
in the Journal from which it is posted to the ledger.
JOURNAL
?
Increase            Debit
ASSET        
Decrease          Credit
Increase            Credit
LIABILITY
Decrease           Debit
Increase            Debit
EXPENSE
Decrease           Credit
?
Increase              Credit
REVENUE
Decrease              Debit
Increase               Credit
EQUITY
Decrease              Debit
Page 5


JOURNAL,LEDGER AND 
TRIAL BALANCE
?
Journal means a daily record of business transactions. Journal 
is a book of original entry because transaction is first written 
in the Journal from which it is posted to the ledger.
JOURNAL
?
Increase            Debit
ASSET        
Decrease          Credit
Increase            Credit
LIABILITY
Decrease           Debit
Increase            Debit
EXPENSE
Decrease           Credit
?
Increase              Credit
REVENUE
Decrease              Debit
Increase               Credit
EQUITY
Decrease              Debit
Bob Sample opened the Campus Laundromat on September 1, 2017. During 
the first month of operations, the following transactions occurred.
Sept. 1 Bob invested $20,000 cash in the business.
2 The company paid $1,000 cash for store rent for September. 
3 Paid $1,200 for a one-year accident insurance policy. 
4 Bob withdrew $700 cash for personal use. 
The chart of accounts for the company is the same as that for Pioneer 
Advertising plus No. 610 Advertising Expense.
Instructions:
(a) Journalize the September transactions. (Use J1 for the journal page 
number.)
(b) Open ledger accounts and post the September transactions.
(c) Prepare a trial balance at September 30, 2017. 
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