Exercise 12: Posting to the General Ledger

Exercise Overview

In this exercise you are given a completed Sales Journal and your task is to post all totals to the appropriate General Ledger Accounts and then prepare a Trial Balance. The General Ledger contains lines highlighted in yellow to guide you where you should post Journal totals.

Exercise Instructions

To undertake this exercise, you will need to download the following resources and save to your computer:

• The Sales Journal Worksheet (PDF Format) that has been completed and totaled for the month.
• The General Ledger (Word Format) which is ready to receive your postings from the Sales Journal.
• The Trial Balance Template (Word Format)

Some screenshots of these documents appear below.

The Sales Journal Worksheet has six totaled columns:

• "Amount Receivable"
• "Travel and Accommodation"
• "Competition Entry Fees"
• "Clothing Sales"
• "Membership Fees"
• "Sponsorship"

You will need to post the totals of these columns to the appropriate accounts in the general ledger (which have been marked in yellow). Using your knowledge of the double-entry bookkeeping system, you will need to determine whether you post on the debit or the credit side of the ledger. Five of these postings will be on one side and one on the other side and this must keep the ledger in balance. It is up to you to use this clue wisely. If want to know the answer, see below.

Sales Journal Screenshot

General Ledger Screenshot

Trial Balance Screenshot

Answer to this Exercise

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