Module Module Content Module Wise

Duration (Hours)
Introduction to Accounting Principles and concepts, Introduction to GAAP, IndAS
I 5
Introduction to IFRS – Need for IFRS, Benefits of IFRS.
Capital & Revenue -Expenditure, Receipts, Gains, Loss, AS9 i.e. IND AS18(concepts-
II 3
overview)
Preparation of Journal, Ledger, Trial Balance- doing journal entries, ledger posting, making
III 12
trial balance.
Depreciation- theory, amortization, Provision for depreciation, SLM, WDV and Change of
IV Method. Impairment of assets. 10
AS 6 and AS10, Ind AS 16
T-form of final accounts- basics for Proprietorship Concerns and few sums based on
V adjustments, Preparation of Final Accounts as per Schedule III of the Companies 22
(Amendment) Act, 2013.
Departmental Accounts – Preparation of departmental Final Accounts, Allocation and
VI 8
Apportionment, Inter departmental transfers and unrealized profits in stocks.
 Ledger

A ledger is a written or computerized record of all the

transactions a business has completed. These
transactions are recorded in the ledger in different
accounts.
Why Ledger Posting is important
Types of Ledger
 Posting
The act of transferring an entry or item from a book of original entry to
the proper account in a ledger.
 Rules related to posting

Debit Credit
Date Particulars L.F.
(Rs.) (Rs.)
2020, Salary Expense A/C Dr. 9000
24th To Cash A/C 9000
Jan [Being, amount paid to employees as salaries]

Salary Expense A/C Cash A/C

Dr. Cr . Dr. Cr .
 Reflected on the same side
Debit Credit
Date Particulars L.F.
(Rs.) (Rs.)
2020, Salary Expense A/C Dr. 9000
24th To Cash A/C 9000
Jan [Being, amount paid to employees as salaries]

Dr. Salary Expense A/C Cr. Dr. Cash A/C Cr.

Date Particulars Rs. Particulars Rs. Date Particulars Rs. Particulars Rs.
 Examples
Debit Credit
Date Particulars L.F.
(Rs.) (Rs.)
2020, Salary Expense A/C Dr. 9000
24th To Cash A/C 9000
Jan [Being, amount paid to employees as salaries]

Dr. Salary Expense A/C Cr. Dr. Cash A/C Cr.

Date Particulars Rs. Particulars Rs. Date Particulars Rs. Particulars Rs.
24th To Cash 24th By Salary 9000
9000
Jan Jan Expense
A/C
2020 2020
A/C
 What is the use of words “To” & “By”
Dr. Salary Expense A/C Cr. Dr. Cash A/C Cr.
Date Particulars Rs. Particulars Rs. Date Particulars Rs. Particulars Rs.

24th To Cash 24th By Salary 9000

9000
Jan A/C Jan Expense
2020 2020
A/C

The Account which The Account which

appears on the debit appears on the Credit
side of the ledger side of the ledger
Journalize the following transactions and post them into ledger

1. Ram started business with a capital of Rs. 10000/-

2. He purchased furniture for cash Rs.4000/-

3. He purchased goods from Mohan on Credit Rs. 2000/-

4. He paid cash to Mohan Rs. 1000/-

 Debit Credit
Date Particulars L.F.
(Rs.) (Rs.)
Cash A/C Dr. 10,000
1. To Capital A/C 10,000
[Being, Business Commenced with Cash]
Furniture A/C Dr. 4,000
2. To Cash A/C 4,000
[Being, Furniture purchased]
Purchase A/C Dr. 2,000
3. To Mohan A/C 2,000
[Being, goods purchased on credit]
Mohan A/C Dr. 1,000
4. To Cash A/C 1,000
[Being, paid cash to Mohan]
 Debit Credit
Date Particulars L.F.
(Rs.) (Rs.)
Cash A/C Dr. 10,000
1. To Capital A/C 10,000
[Being, Business Commenced with Cash]

Dr. Cash A/C Cr. Dr. Capital A/C Cr.

Date Particulars Rs. Particulars Rs. Date Particulars Rs. Particulars Rs.

1. To 10,000 1. By Cash 10,000

Capital A/C
A/C
 Furniture A/C Dr. 4,000
2. To Cash A/C 4,000
[Being, Furniture purchased]

Dr. Cash A/C Cr. Dr. Furniture A/C Cr.

Date Particulars Rs. Date Particulars Rs. Date Particulars Rs. Particulars Rs.

1. To 10,000 2. By 4,000 2. To Cash 4,000

Capital Furniture A/C
A/C A/C
 Purchase A/C Dr. 2,000
3. To Mohan A/C 2,000
[Being, goods purchased on credit]

Dr. Purchase A/C Cr. Dr. Mohan A/C Cr.

Date Particulars Rs. Particulars Rs. Date Particulars Rs. Date Particulars Rs.

3. To 2,000 3. By 2,000
Mohan Purchases
A/C A/C
 Mohan A/C Dr. 1,000
4. To Cash A/C 1,000
[Being, paid cash to Mohan]

Dr. Cash A/C Cr. Dr. Mohan A/C Cr.

Date Particulars Rs. Date Particulars Rs. Date Particulars Rs. Date Particulars Rs.

1. To 10,000 2. By 4,000 4. To 1,000 3. By 2,000

Capital Furniture Cash Purchases
A/C A/C A/C A/C
4. By 1,000
Mohan
A/C
 Balancing of an Account
Dr. Cash A/C Cr.
Date Particulars Rs. Date Particulars Rs.

1. To 10,000 2. By 4,000
Capital Furniture
A/C A/C
4. By 1,000
Mohan
A/C
By Balance 5,000
c/d
10,000 10,000

To Balance 5,000
b/d
Dr.
Furniture A/C Cr.
Date Particulars Rs. Particulars Rs.

To Cash By Balance
2. 4,000 4,000
A/C c/d

4,000 4,000

To Balance
4,000
b/d
 P& L A/C
Dr. Cr .
 Balance Sheet
Cr. Dr.
Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Purchases and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 13 Accounts
Cash A/C Sales A/C
Purchases A/C Bank A/C
Furniture A/C
Drawings A/C
Capital A/C
Freight A/C
Buildings A/C
Sujit A/C Cartage A/C
Mahendra A/C Salaries A/C
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital – 3,00,000 -

A/C
 Purchases A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
01/07 To Capital – 1,00,000
a/c
 Furniture A/C
Dr. Cr.

Particular Particular
Date J/F Amount Date J/F Amount
s s

01/07 To Capital – 50,000

a/c
 Capital A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
01/07 By Cash a/c – 3,00,000
01/07 By Purchases – 1,00,000
01/07 a/c – 50,000
By Furniture
a/c
Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Buildings A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

03/07 To Cash a/c – 1,00,000

 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital – 3,00,000 03/07 By Buildings - 1,00,000

A/C a/c
Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Purchases A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
01/07 To Capital a/c – 1,00,000

03/07 To Cash a/c – 30,000

–
03/07 To Sujit a/c 25,000
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital – 3,00,000 03/07 By Buildings - 1,00,000

A/C a/c

03/07 By Purchase - 30,000

a/c
 Sujit A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
03/07 By Purchases – 25,000
a/c
Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital a/c – 3,00,000 03/07 By Buildings a/c - 1,00,000

03/07 To Sales a/c –
25,500 03/07 By Purchase a/c - 30,000
 Sales A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

03/07 By Cash a/c – 25,500

Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Sales A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

03/07 By Cash a/c – 25,500

05/07 By Cash a/c – 24,000
05/07 By Mahendra a/c – 40,650
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital a/c – 3,00,000 03/07 By Buildings a/c - 1,00,000

03/07 To Sales a/c – 25,500 03/07 By Purchase a/c - 30,000
05/07 To Sales a/c – 24,000
 Mahendra A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

05/07 To Sales a/c – 40,650

Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital a/c – 3,00,000 03/07 By Buildings a/c - 1,00,000

03/07 To Sales a/c – 25,500 03/07 By Purchase a/c - 30,000
03/07 To Sales a/c – 24,000 06/07 By Bank a/c - 32,000
 Bank A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

06/07 To Cash a/c – 32,000

Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital a/c – 3,00,000 03/07 By Buildings a/c - 1,00,000

03/07 To Sales a/c – 25,500 03/07 By Purchase a/c - 30,000
03/07 To Sales a/c – 24,000 05/07 By Bank a/c - 32,000
08/07 To Bank a/c – 15,000
 Drawings A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
08/07 To Bank a/c – 5,000
 Bank A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

06/07 To Cash a/c – 32,000 08/07 By Cash a/c – 15,000

08/07 By Drawings a/c – 5,000
Journalize the following transactions by combining the related
transactions into a compound entry.
July 1st Ajit started business by investing
Cash 3,00,000
Goods and 1,00,000
Furniture 50,000
3rd Purchased building 1,00,000
3rd Purchased goods for cash 30,000
3rd Purchased goods on credit from Sujit 25,000
3rd Sold goods for cash 25,500
5th Sold goods for cash to Avtar 24,000
5th Sold goods to Mahendra on credit 40,650
6th Deposited cash into bank 32,000
8th Withdrew from bank for office use 15,000
8th Withdrew from bank for private use 5,000
10th Paid freight 1,200
10th Paid cartage 2,000
10th Paid salary 14,600
 Freight A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Cash – 1,200
a/c

Cartage A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Cash – 2,000
a/c

Salaries A/C
Dr. Cr.
Particular Particular
Date J/F Amount Date J/F Amount
s s
10/07 To Cash – 14,600
a/c
Closing Account
 Cash A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

01/07 To Capital a/c – 3,00,000 03/07 By Buildings a/c - 1,00,000

03/07 To Sales a/c – 25,500 03/07 By Purchase a/c - 30,000
03/07 To Sales a/c – 24,000 05/07 By Bank a/c - 32,000
08/07 To Bank a/c – 15,000 10/07 By Freight a/c -
1,200
10/07 By Cartage a/c -
2,000
-
10/07 By Salaries a/c 14,600
10/07 By Balance c/d 1,84,700

3,64,500 3,64,500

11/07 To Balance b/d 1,84,700

 Purchases A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
01/07 To Capital a/c – 1,00,000

03/07 To Cash a/c – 30,000

–
03/07 To Sujit a/c 25,000 10/07 By Balance c/d 1,55,000

1,55,000 1,55,000

11/07 To Balance b/d 1,55,000

 Furniture A/C
Dr. Cr.

Particular
Date J/F Amount Date Particulars J/F Amount
s

01/07 To Capital – 50,000

10/07 By Balance c/d 50,000
a/c

50,000 50,000

11/07 To Balance b/d 50,000

 Capital A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Balance c/d 01/07 By Cash a/c – 3,00,000
4,50,000
01/07 By Purchases a/c – 1,00,000
01/07 By Furniture a/c – 50,000

4,50,000 4,50,000

11/07 By Balance b/d 4,50,000

 Buildings A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

03/07 To Cash a/c – 1,00,000

10/07 By Balance c/d 1,00,000

1,00,000 1,00,000

11/07 To Balance b/d 1,00,000

 Sujit A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount

10/07 03/07 By Purchases – 25,000

To Balance c/d 25,000 a/c

25,000 25,000
11/07 By Balance b/d 25,000
 Mahendra A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

05/07 To Sales a/c – 40,650 10/07 By Balance c/d 40,650

40,650 40,650

11/07 To Balance b/d 40,650

 Sales A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

10/07 To Balance c/d 90,150 03/07 By Cash a/c – 25,500

05/07 By Cash a/c – 24,000
05/07 By Mahendra a/c – 40,650

90,150 90,150

11/07 By Balance b/d 90,150

 Bank A/C
Dr. Cr.

Date Particulars J/F Amount Date Particulars J/F Amount

06/07 To Cash a/c – 32,000 08/07 By Cash a/c – 15,000

08/07 By Drawings a/c – 5,000
10/07 By Balance c/d 12,000

32,000 32,000

11/07 To Balance b/d 12,000

 Drawings A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
08/07 To Bank a/c – 5,000
10/07 By Balance c/d 5,000

5,000 5,000

11/07 To Balance b/d 5,000

 Freight A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Cash a/c – 1,200
10/07 By Balance c/d 1,200

1,200 1,200

11/07 To Balance b/d 1,200

 Cartage A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Cash a/c – 2,000
10/07 By Balance c/d 2,000

2,000 2,000

11/07 To Balance b/d 2,000

 Salaries A/C
Dr. Cr.
Date Particulars J/F Amount Date Particulars J/F Amount
10/07 To Cash a/c – 14,600
10/07 By Balance c/d 14,600

14,600 14,600

11/07 To Balance b/d 14,600