Ledger posting is made before passing journal entry.

True

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False

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Solution

The correct option is B False
Ledger posting is made after recording the journal entries in the book of original entry. Once the transactions are recorded in the journal, theses are transferred or posted to the relevant ledger accounts.
Thus, ledger posting is done after passing the journal entry.

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2019		₹
April 1	Commenced business with cash	1,50,000
April 2	Opened a bank account with PNB	50,000
April 3	Purchased furniture	20,000
April 7	Bought goods for cash from M/s. Rupa Traders, Delhi	30,000
April 8	Purchased goods from M/s. Hema Traders, Chandigarh	42,000
April 10	Cash sales	30,000
April 14	Sold goods on credit to M/s. Gupta Traders, Kolkata	12,000
April 16	Rent paid	4,000
April 18	Paid Electricity expenses	1,000
April 20	Received cash from Gupta Traders	12,000
April 22	Goods returned to Hema Traders	2,000
April 23	Cash paid to Hema Traders	40,000
April 25	Bought postage stamps	100
April 30	Paid salary to Mohan	4,000

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