1. The problem is to prepare a double entry ledger for a given transaction or set of transactions. 2. In accounting, a double entry ledger records each transaction in two accounts: one debit and one credit. 3. The fundamental rule is that total debits must equal total credits for each transaction. 4. To prepare the ledger, identify the accounts affected, determine which is debited and which is credited, and record the amounts accordingly. 5. For example, if a company purchases equipment for 1000 by paying cash, debit Equipment account 1000 and credit Cash account 1000. 6. The ledger entries would look like: - Equipment Account: Debit 1000 - Cash Account: Credit 1000 7. This ensures the accounting equation remains balanced and financial statements are accurate. 8. Repeat this process for each transaction to maintain a complete and accurate ledger.