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Business studies - balancing ledger accounts

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  • 14-04-2013 8:24pm
    #1
    Jane98
    Registered Users Posts: 570 ✭✭✭


    If a ledger account has only one item (either Dr or Cr) is it ok to just draw a double line under it or do I need to do the full balance c/d and balance b/d thing.

    Similarly, if there are a number of items on one side only, is it ok to just total that side and leave it at that because the total will be the balance or do I need to do the full balance c/d and balance b/d.

    Also, with the Purchases, Purchases Returns, Sales, Sales Rtn., and Vat ledger accounts do I just post the balances from the Day Books and ACB and not individual items?


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    #2
    MmmPancakes
    Registered Users Posts: 712 ✭✭✭MmmPancakes


    You don't have to do the full balance, although it's recommended you do.

    You won't lose marks in it for the exam according to my business teachers.

    Not sure what you mean but generally you post the balances from the ledger into the trial balance on their respective sides wheter it is Dr or Cr, along with the balance of the cashbook.

    If there is only figures on one side of the account, e.g a Buildings account, you only leave it at that, however if there is more than one you can just add them and put it as your balance. The full balance is not necessary for some accounts, however if an account has figures on both sides usually you have to do the full balance.


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