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

Total debt, how can i determine the total debt of a commercial bank? Which ...

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

What do you mean by inventory turnover, Q. What do you mean by Inventory tu...

Q. What do you mean by Inventory turnover? Inventory turnover -- a ratio which indicates amount of inventory a company uses tosupport a given level of sales. Formula is: Invent

What does a business owner do when the cash balance, What does a business o...

What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then lo

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

Accounting systems from manual to computerized, Q. Accounting systems from ...

Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and

How to get accounting exam help, Hi, How to get help with tutor, in account...

Hi, How to get help with tutor, in accounting exam prepartion? please suggest?

Allowance for uncertain accounts, Normal 0 false false fals...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Example of income statement, Q. Example of Income statement? Income sta...

Q. Example of Income statement? Income statement demonstrates the income statement Lyons prepared. The focal point in this income statement is on determining the cost of goods

Principle of accounting I, the terms debit and credit are synonymous with l...

the terms debit and credit are synonymous with left and right.

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