What is ledger, Accounting Basics

 

Ledger = From the Journal entries we will post the transactions in a book known as Ledger. Ledger is a book which contains the summarized and classified form of permanent records of all transactions .The format of ledger is as follows;

Dr.                                                                                                                                                      Cr.                                                                         

 Date

        Particulars         

       Amount

    Date

        Particulars

     Amount

 

To Common stock

 

$20000

 

By purchases

 

$10,000

 

 

 

 

By Balance C/D

 

$10,000

 

Total

 

$20000

 

Total

 

$20,000

This is an example of Cash A/C

 

Posted Date: 7/26/2012 5:29:11 AM | Location : United States







Related Discussions:- What is ledger, Assignment Help, Ask Question on What is ledger, Get Answer, Expert's Help, What is ledger Discussions

Write discussion on What is ledger
Your posts are moderated
Related Questions
Q. Explain about Money measurement concept? Money measurement concept. Economic activity is primarily recorded and reported in a common financial unit of measure the dollar in

how can i determine the total debt of a commercial bank? Which financial statement do i need to look?

Q. Financial statements of business organizations? Business entities may perhaps have many objectives and goals. For instance one of your objectives in owning a physical fitnes

Schedule of Accounts Payable  Lists the balances of accounts payable ledger, and Accounts Payable controlling account demonstrates the total amount owed to ALL creditors. Th

tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather

Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu

is exploration cost for mining companies regarded as assets or expense?

Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or

An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liabil

Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac