What is ledger, Accounting Basics

Assignment Help:

 

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

 


Related Discussions:- What is ledger

A firm has $200, A firm has $200,000 in total assets and $120,000 in owner'...

A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info

Debtors play its role in accounts receivable, Debtors are the major role of...

Debtors are the major role of the business. He is the whole back bone of the business. The goodwill of the concern is in the hands of debtors because he is the person who takes our

#nocluewhattodo, I need help understanding and filling out an income statem...

I need help understanding and filling out an income statement packet!

Accounting entity assumption and matching principle, 1. For each of the fol...

1. For each of the following accounting assumptions/principles, explain a business transaction:   (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin

Adjusting entries in the general journal, Adjusting entries in the general ...

Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at

An asset''s cost includes all normal and reasonable, An asset's cost includ...

An asset's cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. 01.) True 02.) False True or Fals

Mr, 2. One never goes alone, hens operation research employs different tool...

2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.

Corporate accounting and accounting for sole proprietorship, Q. Corporate a...

Q. Corporate accounting and accounting for sole proprietorship? Several textbook authors use a sole proprietorship and a partnership form of business ownership to exemplify acc

What is cyclic reporting, Q. What is Cyclic reporting? Cyclic reporting...

Q. What is Cyclic reporting? Cyclic reporting and the matching principle necessitate the preparation of adjusting entries. Adjusting entries are journal entries prepared at the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd