Posting: Guiding rules MCQs Quiz | Class 9
This quiz is for Class IX students studying Elements of Book-Keeping & Accountancy (Code 254), focusing on Unit 5: Ledger. Test your knowledge on the topic of Posting: Guiding rules. This quiz covers key concepts such as the rules for debit and credit posting, the importance of narration reference, and the correct usage of journal and ledger folios. Answer all 10 questions and click ‘Submit’ to see your score. You can then download a PDF of your answers.
Understanding Posting in Accountancy
Posting is a fundamental step in the accounting cycle. It is the process of transferring entries from the books of original entry, like the Journal, to the principal book of accounts, the Ledger. This process helps in summarizing all transactions related to a particular account at one place, which is essential for preparing trial balances and final accounts.
Guiding Rules of Posting
The process of posting from the Journal to the Ledger follows a systematic procedure. Let’s take an example: “Purchased goods from Rohan for Rs. 5,000”. The journal entry would be:
Purchases A/c Dr. 5,000
To Rohan’s A/c 5,000
The posting for this entry involves two steps:
- Posting to the Debit Account (Purchases A/c):
- Go to the Purchases Account in the Ledger.
- On the debit side (left side), write the date of the transaction.
- In the ‘Particulars’ column, write the name of the account that was credited in the journal entry, preceded by the word ‘To’. In this case, you would write “To Rohan’s A/c”.
- In the Journal Folio (J.F.) column, write the page number of the Journal from where the entry is being posted.
- In the ‘Amount’ column, write the amount, i.e., 5,000.
- Posting to the Credit Account (Rohan’s A/c):
- Go to Rohan’s Account in the Ledger.
- On the credit side (right side), write the date.
- In the ‘Particulars’ column, write the name of the account that was debited, preceded by the word ‘By’. In this case, you would write “By Purchases A/c”.
- In the J.F. column, write the Journal page number.
- In the ‘Amount’ column, write the amount, i.e., 5,000.
Narration Reference and Folio Usage
It’s important to note that the narration written below the journal entry is NOT copied into the Ledger. The ‘Particulars’ column in the Ledger serves a different purpose: it provides a cross-reference to the other account affected by the transaction.
Folios are crucial for creating an audit trail:
- Journal Folio (J.F.): This column in the Ledger records the page number of the Journal where the original entry exists. It helps in quickly locating the transaction details.
- Ledger Folio (L.F.): This column in the Journal records the page number of the Ledger where the posting has been made. It confirms that the entry has been posted and indicates where to find it.
| Element | Rule | Ledger Entry Example |
|---|---|---|
| Debit Aspect | Post to the Debit side of the concerned account. | In the ‘Particulars’ column, write ‘To [Name of Credit Account]’. |
| Credit Aspect | Post to the Credit side of the concerned account. | In the ‘Particulars’ column, write ‘By [Name of Debit Account]’. |
| Amount | The amount recorded in the Journal for that account is posted. | The same amount is written on both debit and credit sides in their respective accounts. |
Quick Revision Points
- Posting is the transfer of entries from Journal to Ledger.
- The left side of a ledger account is the Debit (Dr.) side, and the right side is the Credit (Cr.) side.
- On the Debit side, entries in the ‘Particulars’ column start with ‘To’.
- On the Credit side, entries in the ‘Particulars’ column start with ‘By’.
- L.F. (Ledger Folio) in the Journal and J.F. (Journal Folio) in the Ledger provide cross-references.
- Narration is not carried forward to the Ledger.
Practice Questions
- What would be posted to the credit side of the Cash Account if we paid salary of Rs. 10,000?
- If goods worth Rs. 2,000 are sold to Meena on credit, what will be written in the particulars column on the debit side of Meena’s Account?
- What does an empty L.F. column in a Journal signify?
- When rent is received in cash, the Rent Account is credited. What is written in the particulars column of the Rent Account?
- Explain the purpose of the J.F. column in a ledger account.
