Posting entries from the general journal to the general ledger groups transactions of similar nature into a single account. This effectively summarizes those transactions that lead to the determination of balances at the end of the period. The general ledger is the book of final entry where the initial recording phase ends and summarization begins.
Posting is a mechanical process, not requiring any analysis. Instead care and accuracy is important to ensure that the details of the journal entry is correctly posted to the general ledger, regardless of the entry’s correctness or propriety. Posting does not correct errors but could lead to errors.
In manual accounting systems, two common formats of the general ledger are used, the T-account format, and the 3-column format. Both formats have columns for debits and credits. In the T-column format, the columns are in opposite sides of the page; in the 3-column format, the debit and credit columns are placed side by side followed by a third column for the updated balance.
The posting process is usually done at the end of the accounting period, or as often as necessary and feasible. It involves transferring the amounts from the general journal exactly as it was originally recorded. Debit and credit amounts are posted to the appropriate columns in the general ledger. Other information such as date and reference numbers are also posted to the general ledger.
The balance of the account is the most important detail resulting from the posting process. It is the amount that is reported in the financial statements after any adjustment that may be necessary. The balance of an account is determined by comparing the total debits with the total debits. The difference is the balance of the account and whichever side has the bigger total determines whether the amount is a debit or a credit balance.
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Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If total debits amounted to $98,600 and total credits amounted to $88,000, the Accounts Receivable account will have a (debit or credit) balance of .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If total credits amounted to $76,300 and total debits amounted to $61,200, the Accounts Payable account will have a (debit or credit) balance of .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Prepaid Expenses account has a debit balance of $24,000, and total debits amounted to $96,000, the sum of credits is .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Mortgage Payable account has a credit balance of $3,500,000, and total debits amounted to $500,000, the sum of credits is .
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Accounts Payable account has a credit balance of $1,680,000 and total credits amounted to $2,000,000, the sum of debits is .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Loan Payable account has a credit balance of $1,500,000, and total debits amounted to $500,000, the sum of credits is .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Match the following
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What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If total credits amounted to $25,866 and total debits amounted to $14,755, the Accrued Expenses Payable account will have a (debit or credit) balance of .
What is the posting error? 
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Property and Equipment account has a balance of $1,077,000, and total credits amounted to $103,000, the sum of debits is .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Accounts Receivable account has a debit balance of $35,450, and total credits amounted to $110,550, the sum of debits is .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00).
If the Investments account has a debit balance of $2,850,000 and total debits amounted to $5,000,000, the sum of credits is .
Fill in the blank
The general ledger is also called the book of .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Which of the following statements are correct?
Fill in the blank
Because of its “T” format, with a left side and right side, a general ledger account resembles the .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
Fill in correct amount. Do not include decimals, commas and other punctuation marks, and currency signs (e.g., 99999, instead of $99,999.00)
If total debits amounted to $104,500 and total credits amounted to $87,000, the Cash account will have a (debit or credit) balance of .
What is the posting error?
Trace each item in the journal entry to the ledger. Accounts should be to the correct ledger page, amounts to the correct side, and as recorded in the journal.
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