CORE 2 Prepare Ledger

COMPETENCY BASED LEARNING MATERIAL
Sector : Health, Social and Other Community

Development Service
Qualification Title : BOOKKEEPING NC III
Unit of Competency : Post Transactions
Module Title : Posting Transactions
ST. NICHOLE’S TECHNICAL SCHOOL, INC.
Document No. NTTA-TM1-07

Date Developed: Issued by:
September 2019 NTTA
Bookkeeping NC III Date Revised:
Checking Policy Developed by:

Compliance Vangie D. Manguil
Revision #
00
QUALIFICATION TITLE: BOOKKEEPING NC III
UNIT OF COMPETENCY: POST TRANSACTIONS
MODULE TITLE : POSTING TRANSACTIONS
MODULE DESCRIPTOR: This module covers the knowledge, skills, and

attitudes in preparing a ledger
NOMINAL DURATION: 24 hours
LEARNING OUTCOMES:
At the end of this module you MUST be able to:
1. Prepare ledger
2. Transfer journal entries
3. 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 correctly
6. Balances are extracted with 100% accuracy.

September 2019 NTTA

Revision #
00
LEARNING OUTCOME NO. 1
Prepare ledger.
Contents:
1. Accounting principles
2. Accounting equation
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
Conditions:
The participants will have access to:
1. Contextual Learning Laboratory

2. Learning Materials
3. Supplies
 Paper
 Pencil
 Eraser
Assessment Method:
1. Written test
2. Practical exercises
3. Interview

September 2019 NTTA

Revision #
00
Learning Experiences
Learning Outcome 1
CHECK INTERNAL CONTROL POLICY COMPLIANCE
Learning Activities Special Instructions

Read Information Sheet 5.1-1
Internal Control Fundamentals
Answer Self-check 5.1-1 Read and understand the
Information Sheets and check
Compare and check the answers yourself by answering the Self-check.
with the answer keys in You must answer all questions
information sheet 5.1-1 correctly before proceeding to the
Read Information Sheet 5.1-2 next activity.
Principles of Internal Control Perform the Task Sheet and Job
Sheet to help you practice your
Answer Self-check 5.1-2
skills.
Compare and check the answers You may refer to the Information
with the answer keys in Sheets to determine if you are doing
information sheet 5.1-2 the right procedures.
Read Information Sheet 5.1-3 The Performance Criteria Checklist
Categories of Internal Control will guide you and help you evaluate
Answer Self-check 5.1-3 your work as you are practicing your
skill.
Checking Internal Control Policy
Compliance Evaluate your own work using the
Performance Criteria. When you are
Compare and check the answers ready, present your work to your
with the answer keys in trainer for final evaluation and
information sheet 5.1-3 recording.
Perform Task Sheet 5.1 If you have questions about the Task
Sheet and Job Sheet, please ask your
Perform Job Sheet 5.1 trainer.
After doing all activities of this
Leaning Outcome, you are ready to
proceed to Preparing internal policy
compliance report.
INFORMATION SHEET 2.1-1
Accounting Principles
These types of questions appear all over the paper especially at the end of long
questions. Students should complete all parts outlined below.
There are two sides to T Accounts:
Debit Side
Credit Side
As mentioned every transaction has two accounts. When posting a T- Account,

each transaction will have an entry on both sides.
Example
Debit Account Name Credit

Dat Details F € Date Details F €
e
Divides the T Account in two
Monetary value of transaction
(Folio) Reference to find other account of transaction

Record of the other account
Date of transaction
When completing T Accounts students must always fill the following in on both
the DEBIT AND CREDIT SIDES.
Dates
Details
Folio
€
“DEBIT THE RECEIVER AND CREDIT THE GIVER”
BALANCING T-ACCOUNTS
These types of questions appear all over the paper from Section A short
questions and part (c) of long questions and other long accounting questions.
Example
Debit BANK ACCOUNT Credit
DATE DETAILS F € DATE DETAILS F €
1/3/08 Balance b/d 14,000 3/3/08 Purchases PB 4,500
10/3/0 Sales SB 5,000 20/3/0 Insurane GL 3,000
8 8
31/3/0 Balance c/d 11,500
8
19,000 19,000
1/4/08 Balance b/d 11,500
 Add up both Debit and Credit side of account

 Insert Balance c/d on the smaller side
 Draw a single line and a double line to denote that the account is
finished
 Put the larger amount in both total boxes i.e. accounts must show
same totals to balance
 Calculate the Balance c/d by adding up the amounts and
subtracting it from the total e.g. €11,500
 The closing balance should be brought down (b/d) for the
beginning of the next month.
 This closing balance b/d is on the debit side and will be used in the
trial balance.
SELF-CHECK 2.1-1
1. What is a ledger?
2. Draw the format of a ledger.
ANSWER KEY 2.1-3
1. It is a summary statement of all the transactions relating to a person,

asset, expense, or income during a given period of time. It shows their
net effect.
2.
Date Particulars Folio Amount Date Particulars Folio Amount
1-4-2016 To Name of the Xxxxx 31-3-2017 By Name of the Xxxxx

Credit Account Debit Account

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COMPETENCY BASED LEARNING MATERIAL

Sector : Health, Social and Other Community

Qualification Title : BOOKKEEPING NC III

Unit of Competency : Post Transactions

Module Title : Posting Transactions

ST. NICHOLE’S TECHNICAL SCHOOL, INC.

Document No. NTTA-TM1-07

Checking Policy Developed by:

UNIT OF COMPETENCY: POST TRANSACTIONS

MODULE TITLE : POSTING TRANSACTIONS

MODULE DESCRIPTOR: This module covers the knowledge, skills, and

NOMINAL DURATION: 24 hours

Document No. NTTA-TM1-07

Checking Policy Developed by:

The participants will have access to:

1. Contextual Learning Laboratory

Document No. NTTA-TM1-07

Checking Policy Developed by:

CHECK INTERNAL CONTROL POLICY COMPLIANCE

Learning Activities Special Instructions

INFORMATION SHEET 2.1-1

There are two sides to T Accounts:

As mentioned every transaction has two accounts. When posting a T- Account,

Debit Account Name Credit

Divides the T Account in two

Monetary value of transaction

(Folio) Reference to find other account of transaction

“DEBIT THE RECEIVER AND CREDIT THE GIVER”

1/4/08 Balance b/d 11,500

 Add up both Debit and Credit side of account

1. It is a summary statement of all the transactions relating to a person,

Date Particulars Folio Amount Date Particulars Folio Amount

1-4-2016 To Name of the Xxxxx 31-3-2017 By Name of the Xxxxx

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