COMPETENCY-BASED LEARNING MATERIALS

SECTOR: HEALTH, SOCIAL, AND OTHER COMMUNITY

DEVELOPMENT SERVICES SECTOR
QUALIFICATION: BOOKKEEPING NC III
UNIT OF COMPETENCY:POST TRANSACTIONS
MODULE TITLE: POSTING TRANSACTIONS
PREPARED BY: JAMES E. BARBACENA

DR.ROMEO B. CASAUL TECHNOLOGICAL

INSTITUTE FOUNDATION, Inc.
Tomas Cabiles Street, Tabaco City, Albay
 BOOKKEEPING NCIII
COMPETENCY-BASED LEARNING MATERIALS

List of Competencies

No. Unit of Competency Module Title Code

1. Journalizing Transactions
Journalize transactions HCS412301

2. Post transactions Posting Transactions HCS412302

3. Prepare trial balance Preparing Trial Balance HCS412303

4. Prepare financial reports Preparing financial reports HCS412304

Review internal control Reviewing internal control HCS412305

5. system
system

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 HOW TO USE THIS COMPETENCY- BASED LEARNING
MATERIALS

Welcome!
The unit of competency, “Post Transactions", is one of the competencies of
Bookkeeping NCIII, a course which comprises the knowledge, skills and
attitudes required for a TVET trainer to possess. The module, Posting
transactions, contains training materials and activities related to identifying
learner’s requirements, preparing session plan, preparing basic instructional
materials and organizing learning and teaching activities for you to
complete. In this module, you are required to go through a series of learning
activities in order to complete each learning outcome. In each learning
outcome are Information Sheets, Self-Checks, Task Sheets and Job Sheets.
Follow and perform the activities on your own. If you have questions, do not
hesitate to ask for assistance from your facilitator.

Remember to:

Read information sheets and complete the self-checks. Suggested

references are included to supplement the materials provided in this
module.

Perform the Task Sheets and Job Sheets until you are confident that your
outputs conform to the Performance Criteria Checklist that follows the
sheets.

Submit outputs of the Task Sheets and Job Sheets to your facilitator for
evaluation and recording in the Accomplishment Chart. Outputs shall
serve as your portfolio during the Institutional Competency Evaluation.
When you feel confident that you have had sufficient practice, ask your
trainer to evaluate you. The results of your assessment will be recorded in
your Progress Chart and Accomplishment Chart. You must pass the
Institutional Competency Evaluation for this competency before moving to
another competency. A Certificate of Achievement will be awarded to you
after passing the evaluation. You need to complete this module before you
can perform the module on Preparing Trial Balance.

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 MODULE CONTENT

UNIT OF COMPETENCY : Post Transactions

MODULE TITLE : Posting Transactions

MODULE DESCRIPTOR : This module covers the knowledge,

skills, and attitudes in posting
transactions manually for all types of
business organizations and business
activities.

NOMINAL DURATION : 16 Hours

LEARNING OUTCOMES :
At the end of this module you MUST be able to:

 Prepare ledger

 Transfer journal entries

 Summarize ledger

ASSESSMENT CRITERIA:

1 Ledger for the list of asset, liability, and equity account titles are
prepared in accordance with the Chart of Accounts

2 Ledger for the list of income and expense account titles are
prepared in accordance with the Chart of Accounts

3. Journal entries are transferred in chronological order

4. Postings are done with 100% accuracy

5. Debits & Credits for each ledger account are added accurately.

6. Balances are extracted with 100% accuracy.

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 LEARNING OUTCOME NO. 2
TRANSFER JOURNAL ENTRIES

Contents:

1. Posting procedures for all types of business organization.

Assessment Criteria

1. Journal entries are transferred in chronological order.

2. Postings are done with 100% accuracy.

Conditions

1. Calculator
2. Learning Materials
3. Pencil
4. Eraser
5. Ledger
6. Ruler

Methodologies:

1. Group discussion
2. Interaction
3. Lecture

Assessment Method:

1. Written test
2. Practical/performance test
3. Interview

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 Learning Experiences

Learning Outcome 2

TRANSFER JOURNAL ENTRIES

Learning Activities Special Instructions

Read Information Sheet 2.2-1 in Make sure that you acquire the
Posting Procedures for All Types of Posting Procedures for All Types of
Business Organizations. Business Organizartions

Answer Self – Check 2.2-1 in Posting Try to answer the Self-Check

Procedures for All Types of Business without looking to the Answer Key.
Organizations.

Compare the answers using Answer Check your answers using the
Key 2.2-1. Answer Key.

View Multimedia Presentation in Ask your trainer about the available

Posting Procedures for All Types of Video and PowerPoint Presentation.
Business Organizations.

Answer Computer Based Assessment. Review the Information Sheet first

before taking the exam

Perform Job Sheet 2.2-1 in Post Follow the standard and procedure
Journal Entries. in Posting Journal Entries for All
Types of Business Organizations

Rate your own performance based on Repeat the task if fail to achieve the
Performance Criteria Checklist 2.2-1 standard criteria.
in Post Journal Entries.

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 Information Sheet 2.2-1

Posting Procedures For All Types of Business

Organizations

Learning Objectives
After reading this INFORMATION SHEET, YOU MUST be able to:
1. define Posting,
2. give the Importance of Posting.
3. enumerate the Procedures in Posting Journal Entries to Ledger
for All Types of Business Organizations

Introduction
This information sheet will cover the Definition of Posting and its
importance. This will also cover the Procedures in Posting Journal Entries to
Ledger for All Types of Business Organizations such as Sole Proprietorship,
Partnership and Corporation.

Definition of Posting

What is Posting?

Posting in bookkeeping is when the balances in subledgers and the

general journal are shifted into the general ledger. Posting only transfers the
total balance in a subledger into the general ledger, not the individual
transactions in the subledger. An accounting manager may elect to engage
in posting relatively infrequently, such as once a month, or perhaps as
frequently as once a day.

Subledgers are only used when there is a large volume of transaction

activity in a certain accounting area, such as inventory, accounts payable,
or sales. Thus, posting only applies to these larger-volume situations. For
low-volume transaction situations, entries are made directly into the general
ledger, so there are no subledgers and therefore no need for posting.

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 The Ledger
The Journal
Cash xxx Cash
Sales xxx
Sales

For example, ABC International issues 20 invoices to its customers

over a one-week period, for which the totals in the sales subledger are for
sales of ₱300,000.00. ABC's controller creates a posting entry to move the
total of these sales into the general ledger with a ₱300,000.00 debit to the
accounts receivable account and a ₱300,000.00 credit to the revenue
account.

Posting is also used when a parent company maintains separate sets

of books for each of its subsidiary companies. In this case, the accounting
records for each subsidiary are essentially the same as subledgers, so the
account totals from the subsidiaries are posted into those of the parent
company. This may also be handled on a separate spreadsheet through a
manual consolidation process.

Posting has been eliminated in some accounting systems, where

subledgers are not used. Instead, all information is directly stored in the
accounts listed in the general ledger.

When posting is employed, someone researching information in the

general ledger must "drill down" from the account totals posted into the
relevant general ledger accounts, and search in the detailed records listed in
the relevant subledgers. This can entail a significant amount of additional
research work.

From the perspective of closing the books, posting is one of the key
procedural steps required before financial statements can be created. In this
process, all adjusting entries to the various subledgers and general journal
must be made, after which their contents are posted to the general ledger. It
is customary at this point to set a lock-out flag in the accounting software,
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so that no additional changes to the subledgers and journals can be made
for the accounting period being closed. Access to the subledgers and
journals is then opened for the next accounting period.

If posting accidentally does not occur as part of the closing process,

the totals in the general ledger will not be accurate, nor will the financial
statements that are compiled from the general ledger.

Importance of Posting

Why is Posting important?

Without the posting process, you only have a list of transactions.

Finding individual entries becomes difficult and time consuming. Posting in
a ledger helps you compartmentalize transactions. You can see the big
picture of your financial health and review patterns in sales and expenses.

Posting in a ledger makes it easier to find mistakes in your accounting

records. Catching mistakes early is important for accurate financial reports
and tax filings. In the case of an audit, learning how to make ledger entries
that are up-to-date can help you avoid penalties.

Procedures in Posting For All Types of

Business Organization

Transaction analysis and journal entries are the first two stages of the
accounting cycle. Posting is the transfer of journal entries to a general
ledger, which usually contains a separate form for each account. Journals
record transactions in chronological order, while ledgers summarize
transactions by account. Posting in bookkeeping consists of a few simple
steps for all types of business organizations such as sole proprietorship,
partnership and corporation:

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1. Find the respective ledgers of all accounts.

2. Transfer the date of the transaction from the journal to the

ledger.

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3. Transfer the page number from the journal to the journal
reference (J.R) column of the ledger.

4. Post the debit figure from the journal as a debit figure in the
ledger and the credit figure from the journal as a credit figure in
the ledger.

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 5. Enter the account number in the posting reference column of the
journal once the figure has been posted to the ledger

Business firms have different legal forms of business organization but

they have similar steps or procedures in posting journal entries to ledger.
See the illustration below.

Illustration:

Sole Proprietorship
Jordan Clarkson, a sole proprietor of Clarkson Commercial Center, completed the following
transactions during April 2012. The journal entries for the month are as follows:

Journal Page 1

Date Account Titles Debit Credit

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1 Cash 59,000
Clarkson, Capital 59,000
Initial Investment.

3 Equipment 18,000
Cash 18,000
Bought
equipment.

3 Purchases 10,200
Accounts Payable 10,200
Bought merchandise on account

5 Office Supplies 1,500

Cash 1,500
Bought office supplies

6 Accounts Receivable 11,600

Sales 11,600
Sale of merchandise on account.

7 Freight Out/Transportation Out 150

Cash 150
Paid transportation cost.

8 Accounts Payable 550

Purchase Returns & Allowance 550
Return of merchandise

11 Accounts Payable 9,650

Purchase Discount 193
Cash 9,457
Paid G-Point Incorporation.

13 Cash 11,368
Sales Discount 232
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 Accounts Receivable 11,600
Received
payment.

14 Purchases 9,000
Cash 9,000
Bought merchandise.

15 Salaries Expense 1,500

Cash 1,500
Paid Salaries.

16 Cash 19,000
Notes Payable 19,000
Borrowed money from the bank.

17 Cash 900
Purchase Return & Allowance 900
Return merchandise.

18 Purchases 10,500
Accounts Payable 10,500

Bought merchandise on account.

20 Freight In/Transportation In 150

Cash 150

Paid
transportation.

Journal Page 2
Cash 14,000
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 23
Sales 14,000
Sale of merchandise.

26 Purchases 9,000
Cash 9,000
Bought merchandise.

27 Accounts Payable 4,250

Cash 4,250
Paid merchandise.

28 Clarkson, Drawing 4,000

Cash 4,000
Withdrew cash.

29 Sales Returns & Allowances 900

Cash 900
Made refund to cash customer.

30 Advertising Expense 1,000

Utilities Expense 500
Rent Expense 1,000
Salaries Expense 1,500
Cash 4,000

Paid expenses.

30 Accounts Receivable 100,000

Cash 80,000

Sales 180,000
Receivedpayment.

Posted journal entries of Clarkson Commercial Center:

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Account: Cash Account No.110

Date Explanation J.R Debit Credit Balance

2018
Apr-01 J-1 59,000
J-1
3 18,000
J-1
5 1,500
J-1
7 150
J-1
11 9,457
J-1
13 11,368
J-1
14 9,000
J-1
15 1,500
J-1
16 19,000
J-1
17 900
J-1
20 150
J-2
23 14,000
J-2
26 9,000
J-2
27 4,250
J-2
28 4,000
J-2
29 900
J-2
30 4,000
J-2
30 80,000

Account:
Accounts Account
Receivable No.120
Date Explanation J.R Debit Credit Balance
2018
Apr-06 j-1 11,600
13 j-1 11,600
30 j-2 100,000

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Account:
Merchandise Account
Inventory No.130
Date Explanation J.R Debit Credit Balance

Account:
Office Account
Supplies No.140
Date Explanation J.R Debit Credit Balance
2018
Apr-05 J-1 1,500

Account: Account
Equipment No.150
Date Explanation J.R Debit Credit Balance
2018
Apr-05 J -1 18,000

Account:
Accounts Account
Payable No.210
Date Explanation J.R Debit Credit Balance
2018
Apr-03 J-1 10,200
J-1
8 550
J-1
11 9,650
J-1
18 10,500
27 J-2 4,250

Account:
Notes Account
Payable No.220
Date Explanation J.R Debit Credit Balance
2018
Apr-16 J-1 19,000

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Account:
Clarkson, Account
Capital No.310
Date Explanation J.R Debit Credit Balance
2018
Apr-01 J-1 59,000

Account:
Clarkson, Account
Drawing No.320
Date Explanation J.R Debit Credit Balance
2018
Apr-28 J-2 4,000

Account: Account
Sales No.510
Date Explanation J.R Debit Credit Balance
2018
Apr-06 J-1 11,600
23 J-2 14,000
30 J-2 180,000

Account:
Sales Return
& Allowance Account No.520
Date Explanation J.R Debit Credit Balance
2018
Apr-29 J-2 900

Account:
Sales Account
Discount No.530
Date Explanation J.R Debit Credit Balance
2018
Apr-13 J-1 232

Account: Account
Purchase No.610
Date Explanation J.R Debit Credit Balance

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 2018
Apr-03 j-1 10,200
14 J-1 9,000
18 J-1 10,500
26 J-2 9,000
Date Explanation J.R Debit Credit Balance
2018
Apr-08 J-1 550
17 J-1 900

Account:
Purchase Account
Discount No.630
Date Explanation J.R Debit Credit Balance
2018
Apr-11 J-1 193

Account: Account
Freight In No.640
Date Explanation J.R Debit Credit Balance
2018
Apr-20 J-1 150

Account:
Advertising Account
Expense No.710
Date Explanation J.R Debit Credit Balance
2018
Apr-30 J-1 1,000

Account:
Utilities Account
Expense No.720
Date Explanation J.R Debit Credit Balance
2018
Apr-30 J-1 500

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 Account: Account
Rent Expense No.740
Date Explanation J.R Debit Credit Balance
2018
Apr-30 J-1 1,000

Account:
Salaries Account
Expense No.750
Date Explanation J.R Debit Credit Balance
2018
Apr-15 J-1 1,500
30 J-2 1,500

Account: Account
Freight Out No.760
Date Explanation J.R Debit Credit Balance
2018
Apr-07 J-1 150

Partnership
Jessica Selisana, Tressa Mortula and Nanette Virtudazo, graduates of business course,
implemented their own business plan to build a Partnership. Selisana invested P 300,000,
Mortula invested P 200,000 and Virtudazo invested an equipment with a carrying value of P
100,000 under the name of their business. They completed the transactions for the month
of June, 2018. Their journal entries are as follows:

Journal Page 1

Date Account Titles Debit Credit

500,000
Cash 100,000
1 Equipment
Mortula, Capital 300,000

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 Selisana,Capital 200,000
Virtudazo,Capital 100,000
Initial Investment.

3 Land 50,000
Cash 50,000
Bought land.

3 Purchases 40,000
Accounts Payable 40,000
Bought merchandise on account

5 Purchases 41,500
Cash 41,500
Bought merchandise in cash.

6 Accounts Receivable 80,000

Sales 80,000
Sale of merchandise on account.

Posted journal entries of Partnership:

Account: Cash Account Number: 110

Date Explanation J.R Debit Credit Balance
2018
Jun-01 J-1 500,000
3 J-1 50,000
5 J-1 41,500

Account: Accounts Receivable Account Number: 120

Date Explanation J.R Debit Credit Balance
2018
Jun-06 J-1 80,000

Account: Land Account Number: 160

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 Date Explanation J.R Debit Credit Balance
2018
Jun-03 J-1 50,000

Account: Equipment Account Number: 170

Date Explanation J.R Debit Credit Balance
2018
Jun-03 J-1 100,000

Account: Selisana, Capital Account Number: 310

Date Explanation J.R Debit Credit Balance
2018
Jun-01 J-1 200,000

Account: Mortula, Capital Account Number: 320

Date Explanation J.R Debit Credit Balance
2018
Jun-01 J-1 300,000

Account: Virtudazo, Capital Account Number: 330

Date Explanation J.R Debit Credit Balance
2018
Jun-01 J-1 100,000

Account: Sales Account Number: 410

Date Explanation J.R Debit Credit Balance
2018
Jun-06 J-1 80,000

Account: Purchases Account Number: 510

Date Explanation J.R Debit Credit Balance
2018
Jun-03 J-1 400,000
5 J-1 41,500

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CORPORATION

Lucky Draw Corporation was authorized to issue P 400,000 ordinary shares

divided into 4,000 shares with a par value of P 100 per share. On August
13, 2012, the company received subscriptions for 1,000 shares at par from
various individuals. As at September 20, 2012, 600 of the subscribed shares
have been fully paid and the stock certificates issued correspondingly. Next
day, the company issued 400 shares at par for cash. The journal entries are
as follows:

Journal Page 1

Date Account Titles Debit Credit

1 Unissued Ordinary Shares 400,000

Clarkson, Capital 400,000

Authorization

5 Subscription Receivable 100,000

Subscribed Ordinary Shares 100,000

Shares subscription at par

10 Cash 60,000
Subscription Receivable 60,000
Subscription fully collected

15 Subscribed Ordinary Shares 60,000

Unissued Ordinary Shares 60,000

Issuance of stock certificates after full payment

of subscription

20 Cash 40,000
Unissued Ordinary Shares 40,000

Cash subscription at par.

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Posted journal entries to ledger of Lucky Draw Corporation:

Account
Account: Cash No. 110
Date Explanation J.R Debit Credit Balance
2012 J-1
Aug-10 J-1 60,000
20 J-1 40,000

Account
Account: Subscription Receivable No. 120
Date Explanation J.R Debit Credit Balance
2012
Aug-05 J-1 100,000
15 J-1 60,000

Account:
Authorized
Ordinary Account
shares No. 410
Date Explanation J.R Debit Credit Balance
2012
Aug-01 J-1 400,000

Account
Account: Unissued Ordinary shares No. 510
Date Explanation J.R Debit Credit Balance
2012
Aug-01 J-1 400,000
15 J-1 60,000
20 J-1 40,000

Account
Account: Subscribed Ordinary Shares No. 610
Date Explanation J.R Debit Credit Balance
2018
Aug-05 J-1 100,000

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 Self- Check 2.2-1

IDENTIFICATION
Directions: Read and analyze the statement.
Write the missing word in the blank of every sentence.
Provide a separate answer sheet for your answer.

1. _____________________________ in bookkeeping is when the balances in

subledgers and the general journal are shifted into the general ledger.

2. _____________________________ are only used when there is a large volume

of transaction activity in a certain accounting area, such as inventory,
accounts payable, or sales.

3. In the case of an audit, learning how to make _______________________

that are up-to-date can help you avoid penalties.

4. – 5. Posting the debit figure from the journal as a ______________________

in the ledger and the credit figure from the journal as a
_______________________in the ledger is one of the posting procedures.

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 ANSWER KEY 2.1-1

1. Posting
2. Subledgers
3. ledger entries
4. – 5. Debit figure
Credit figure

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 JOB SHEET 2.2-1

Title: Post Journal Entries

Performance Objective: Given required supplies, materials and

equipment, you should be able to:

1. solve the business transactions by journalizing them into journals

2. prepare respective ledgers for all account titles and

3. transfer the journal entries from journal to ledger.

Supplies/Materials : General Ledgers, Journals

Equipment : Calculator, Computer

Steps/Procedure:

1. Prepare the supply materials and equipment.

2. Open JS2.2-1.dwg file located at desktop.
3. Read carefully the instruction inside the JS2.2-1.dwg file.
4. Prepare journal entries and post the entries in the ledgers.Make
sure your ledger is free from erasures.
5. Present the ledger for evaluation according to the standard
criteria.
6.Observe the cleanliness inside the workshop.

Assessment Method:

Observation
Interview

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 Performance Criteria Checklist 2.1-3

CRITERIA
YES NO
Did you…

1. journalize the business transactions

accurately?

2. follow the GAAP in journalizing business

transactions?

3. prepare respective ledgers for all account

titles?

4. post the journal entries to ledger perfectly?

5. answer correctly the questions asked by your

trainer?

6. transfer journal entries chronologically?

7. post journal entries accurately?

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 Evidence Plan

Competency
standard:
BOOKKEEPING NCIII
Unit of
competency:
Post Transactions
Ways in which evidence will be collected:
[tick the column]

Third party Report

Demonstration &
Observation &
Questioning

Questioning

Portfolio

Written
The evidence must show that the trainee…

Ledger for the list of asset, liability, and equity

account titles are prepared in accordance with
the Chart of Accounts

Ledger for the list of income and expense

account titles are prepared in accordance with
the Chart of Accounts

*Journal entries are transferred in chronological

√ √ √
order

*Postings are done with 100% accuracy √ √ √

Debits & Credits for each ledger account

are added accurately.

Balances are extracted with 100% accuracy.

NOTE: *Critical aspects of competency

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 TABLE OF SPECIFICATION

Objectives/Conten Knowledg Percentage

Comprehension Application
t area/Topics e of test

Posting
Procedure for 20% 20% 40% 80%
Assets,Liabiliti
es and Equity

Posting
Procedures for
Income and 5% 5% 10% 20%
Expenses

TOTAL 25% 25% 50% 100%

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 Item Analysis

Objectives/Content Comprehensi # of test

Knowledge Application
area/Topics on item

Posting Procedure
16
for 4 4 8
Assets,Liabilities
and Equity

Posting Procedures
for Income and
1 1 2 4
Expenses

20
TOTAL 5 5 10
Items

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 Written Test

Name:___________________________ Date:_________________ Score:___________

Multiple Choice: Read and analyze the statement. Encirlcle the letter of the
correct answer.

1. The book that contains every single transaction that has occurred in a
business and is recorded in chronological order is called a ___________.
a. Chart of Accounts
b. Ledger
c. Journal
d. Subleger

2. This is the process of transferring journal entries to ledger.

a. Journalizing
b. Listing
c. Posting
d. Adjusting

3. What is the first step in transferring journal entries to ledger?

a. Transfer the page number from the journal to the journal
reference (J.R) column of the ledger.
b. Enter the account number in the posting reference column
of the journal once the figure has been posted to the ledger.
c. Transfer the date of the transaction from the journal to the
ledger.
d. Find the respective ledgers of all account titles.

4. J.R in ledger means

a. Journal Right
b. Journal Reference
c. Journal Referendum
d. Journal Repetition

5. It is used when there is a large volume of transaction activity in a certain

business area, such as Inventory, Accounts Payable, or Sales.
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 a. Chart of Accounts
b. Ledger
c. Journal
d. Subleger

6. When your entry in the journal is a debit figure, it must be posted in the
ledger as a ___________ figure.
a. debit
b. credit
c. balance
d. Either a, b, or c.

7. Why do business firms use a Posting Reference in the general journal?

a. Is used to indicate the page number of journal where
transactions occurred.
b. Is used to indicate who made the journal entry.
c. Is used to indicate who posted a journal entry to the ledger.
d. Is used to indicate that account titles has been posted to
the ledger.

8. Why do business firms use a Journal Reference in the general ledger?

a. Is used to indicate that account titles has been posted to
the ledger.
b. Is used to indicate who made the journal entry.
c. Is used to indicate who posted a journal entry to the ledger.
d. Is used to indicate the page number of journal where
transactions occurred.

9. Which of the following is NOT an advantage of Posting?

a. Posting in a ledger helps you compartmentalize transactions.
b. Posting in a ledger makes easily to find mistakes in your
bookkeeping records.
c. Posting in a ledger becomes difficult and time consuming.
d. Posting in a ledger helps you see the review patterns in Sales &
Expenses.

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10. Why is Posting not applied to the low – volume transactions by some
business entities?
a. Because the low – volume transactions are making entries
directly in a ledger.
b. Because the low – volume transactions are making entries
indirectly in a ledger.
c. Because the low – volume transactions use subledgers as
substitutes to ledgers.
d. Because Posting is expensive and time – consuming.

Use the following information to answer item nos. 11 – 15 below:

On January, 2018, Tobio Cayanan Company had the following journal

entries:

Jan.28 Cayanan, Drawing 10,000

Cash 10,000
Withdrew cash.

Jan.29 Sales Return & Allowance 2,000

Cash 2,000
Made refund to cash customer.

Jan.30 Advertising Expense 1,000

Utilities Expense 500
Rent Expense 1,000
Salaries Expense 5,000
Cash 7,500
Paid expenses.

11. When Cayanan, Drawing was debited in a journal on January 28, 2018,
the same account must be ____________ in a ledger.
a. debited
b. credited
c. debited & credited

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 d. no entry

12. When Sales Return & Allowance was debited in a journal on January 29,
2018, the same account must be _______________ in a ledger.
a. no entry
b. credited
c. debited
d. none of the above

13. Advertising Expense, Utilties Expense, Rent Expense and Salaries

Expense must be posted in _____________.
a. separate and respective ledgers
b. only one ledger
c. respective subledgers
d. operation expense ledger

14. When Cash was credited in a journal, the same account must be posted
in a ___________ of its respective ledger.
a. debit side only
b. credit side only
c. both debit & credit sides
d. either debit side or credit side

15. On January 30, 2018, Tobio Ca.yanan credited P 7,500 to Cash in a

journal. Thus, ledger entry must be ________________.
a. P 7,500 debited to Cash
b. P 7,500 credited to Cash
c. P 5,000 debitedto Cash
d. P 5,000 credited to Cash

16. The owner invested P 50,000 Cash in the business. What are the effects
in entity’s ledgers?
a. It would be debited P 50,000 in a Cash Ledger.
b. It would be credited P 50,000 in a Cash Ledger.

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 c. It would be debited P 25,000 in a Cash and P 25,000 in a
Capital Ledger.
d. It would be debited P 25,000 in a Capital Ledger and P 25,000
in a Cash Ledger.

17. ABC Corporation acquired Land with a carrying value of P 1,000,000 by

paying fully in Cash. Posting must be made to ___________________.
a. Cash and Capital Ledgers
b. Capital and Land Ledgers
c. Cash and Land Ledgers
d. Cash, Capital and Land Ledgers

18. XYC Corporation acquired Delivery Truck with a carrying value of P

1,000,000 by paying P 500,000 Cash and by signing notes for the
remaining balance. Posting must be made to _______________________.
a. Cash, Capital and Delivery Truck Ledgers
b. Capital, Notes Payable and Delivery Truck Ledgers
c. Cash, Notes Payable and Capital Ledgers
d. Cash, Notes Payable and Delivery Truck Ledgers

19. Procedures of transferring journal entries to ledgers:

I. Find the respective ledgers of all account titles.
II. Transfer the date from the journal to ledger.
III.Transfer the page number from the journal to the journal reference
(J.R) column of the ledger.
IV. Post the debit figure from the journal as a credit figure in the ledger
and the credit figure from the journal as a debit figure in the ledger.
V. Post the debit figure from the journal as a debit figure in the ledger
and the credit figure from the journal as a credit figure in the ledger.
VI. Enter the account number in the posting reference column of the
journal once the figure has been posted to the ledger
Which of them are correct?
a. I, II, V only
b. I, III, V only
c. I, II, III, IV, and VI only
d. I, II, III, V, VI only
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20. The journal entry “debit to Cash – P 20,000 and credit to Sales – P
20,000 on May 13, 2018” must be posted in a ledger. Which one of the
following illustrations shows a correct posting?
a.
Account: Cash Account No.
Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

Account: Sales Account No.

Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

b.
Account: Cash Account No.
Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

Account: Sales Account No.

Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

c.
Account: Cash Account No.
Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

Account: Sales Account No.

Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

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d.

Account: Cash Account No.

Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

Account: Sales Account No.

Date Explanation J.R Debit Credit Balance
2018
May-13 20,000

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Answer Key

Multiple Choice

1. b

2. c

3. d

4. b

5. d

6. a

7. d

8. d

9. c

10. a

11. a

12. c

13. a

14. b

15. b

16. a

17. c

18. d

19. d

20. d

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 Performance Test

Specific Instruction for the Candidate

Qualification BOOKKEEPING NCIII

Unit of Competency Post Transactions

General Instruction: Given the office supplies and equipment, prepare

journal entries and post in the ledgers. Do the transaction in two (2) hours.

Specific Instruction:

1. You are provided with the performance test both printed and
electronically, to locate your file go to Desktop>Performance Test
Folder>PT-1.dwg.

2. Open PT-1.dwg and read first the instruction before you start.

3. You may synchronize your phone time to the trainer’s timer.

4. Present your output to your trainer for evaluation.

5. Once you are done before the allotted time, call your trainer for the
interview.

List of Tools: none

List of Equipment: Calculator, Computer ,

List of Materials: Journal and Ledger, ball pen

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 Performance Criteria Checklist for Performance Test

Name:______________________ Date of Assessment:____________

CRITERIA
YES NO
Did you….

1. journalize the business transactions

accurately?

2. follow the GAAP in journalizing business

transactions?

3. prepare respective ledgers for all account

titles?

4. post the journal entries to ledger perfectly?

5. answer correctly the questions asked by your

trainer?

6. prepare ledger in accordance with the Chart of

Accounts?

7. transfer journal entries in chronological order?

8. observe the cleanliness in the workshop?

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QUESTIONING TOOL
Satisfactory
Questions to probe the candidate’s underpinning knowledge
response
Yes No
Extension/Reflection Questions
1. Why do we need to follow the procedures in Posting journal
entries to ledger?  

2. Why is it necessary for business firms to prepare general

ledgers for Posting?  

Safety Questions
3. Why do you need to prevent the trainees bringing foods and  
drinks while working in Computer?
4. Why do you need to secure the wires of your computer?  

Contingency Questions
5. What will you do if there is a Power Interruption occured?  
6. Why is it necessary to save first your new file before  
working?
 
Job Role/Environment Questions
7. In sorting your file. Why do you need to name your work and  
place it into a folder?
8. Why is it important to submit the output on time?  
 
Rules and Regulations
9. If you committed an erroneous posting and no one noticed it,  
what will you do?
10. If you and your co-trainee were given the same task but  
both of you were required to work solely, will you copy the
output of your co-trainee?
The candidate’s underpinning  Satisfactory  Not
knowledge was: Satisfactory

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Expected Answer for Questioning Tool
Satisfactory
Questions to probe the candidate’s underpinning knowledge
response
Yes No
Extension/Reflection Questions
1. It is important to follow the procedures in Posting journal
entries to ledger in order to avoid mistakes and erroneous  
entry.
2. Preparing general ledger ledger makes it easier to find
mistakes in your accounting records. Catching mistakes early is
important for accurate financial reports and tax filings. In the  
case of an audit, preparing ledger entries that are up-to-date
can help you avoid penalties.

Safety Questions
3. Computer hardware are electronic deivices and it is sensitive  
to liquid, dirts and dusrs.
4. It must secured for us to prevent accident or worst fatal  
accidents.

Contingency Questions
5. Save immediately your file and shutdown the System Unit as  
well as the UPS. It will eventually shutdown after the battery of
the UPS was drained.
6. It is very important to save first your new file before you start  
your work. Because if anything happens, your file is safe.
 
Job Role/Environment Questions
7. It is important to provide proper file and placing it into a  
folder. It makes easier to locate and sort the files.
8. For you to prepare on actual job. Since time is very  
important on business firms.
 
Rules and Regulations

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9. Even no one noticed that I committed an erroneous posting,  
I will correct it myself because it has an effect on financial
reports.
10. No, because I undergo training in order to learn the required  
knowledge and not to cheat on other. I will try my best to
answer it on my own than to commit fraud.
The candidate’s underpinning  Satisfactory  Not
knowledge was: Satisfactory

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Inventory of Training Resources
Qualification Title: Bookkeeping NCIII

Resources for Skills Practice

 Equipment As per TR As per Remarks
Inventory
Computer/Laptop 1 unit 25 units Complete
Aircon unit 1 unit 1 unit Complete
LCD Projector 1 unit 2 units Complete
Teacher’s Table/Chair 1 unit 1 unit Complete
Arm Chairs 25 pcs. 30 pcs. Complete
White Board 1 pc. 1 pc. Complete
 Tools As per TR As per Remarks
Inventory
Stapler 1 pc. 1 pc. Complete
Calculators 25 pcs 10 pcs Incomplete
 Materials As per TR As per Remarks
Inventory
Pencils 25 pcs. 25 pcs. Complete
Pencil Erasers 25 pcs. 25 pcs. Complete
Ballpens 25 pcs. 25 pcs. Complete
Ruler 25 pcs. 25 pcs. Complete
Journals (assorted columns) 25 pcs. 25 pcs. Complete
Ledger 25 pcs. 25 pcs. Complete
Worksheets (assorted) 25 pcs. 25 pcs. Complete
Acetate 1 box 1 box Complete
Marker 3 pcs. 3 pcs. Complete
Diskettes/CD
Envelopes ( Long) 25 pcs. 25 pcs. Complete
Registration Forms 25 pcs. 25 pcs. Complete
Teacher’s Record Book 1 pc. 1 pc. Complete
Worksheets (Asstd.) 50 pcs 50 pcs Complete

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 Marker Ink 1 pc. 1 pc. Complete
Ledger Book 25 pcs. 25 pcs. Complete
Staple Wire 1 box 1 box Complete

Prepared by:

James E. Barbacena
JAMES E.BARBACENA
Trainer-Bookkeeping NC III

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 Workshop Layout

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 ENDNOTES

Books:

Ballada, Win.2012. “Posting Journal Entries to Ledger,” Basic Accounting

17th Edition. Sampaloc, Manila: Suite 203 KB Arizona Tower, 838 Padre
Campa St.

Ballada, Win.2012. “Journal Entries of Partnership & Corporation,”

Partnership & Corporation Accounting 16th Edition. Sampaloc, Manila:
Suite 203 KB Arizona Tower, 838 Padre Campa St.

Internet/Link:

https://www.accountingtools.com/articles/what-is-posting-in-
accounting.html
https://www.accountingverse.com/accounting-basics/accounting-
ledger.html
https://bizfluent.com/info-8647868-five-steps-posting-accounting.html

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