what is the difference between JOURNAL ENTRY & LEDGER
Answer Posted / amrutha
a journal is also called as a book of prime entry.
transactions occured are first entered in this book to show
which accounts should be debited and which should be credited.
on the basis of entries made in the journal, accounts are
prepared, the book which contains the accounts is called a
ledger. transactions entered in the journal are classified
according to their nature and posted in their respective
accounts in ledger. it is also called as book of final entry.
Is This Answer Correct ? | 56 Yes | 5 No |
Post New Answer View All Answers
What are the hurdles you faced in past job?
How are angel investors opposite to venture capitalists?
Explain About Openpages Model Risk Governance?
What is a Reverse Repo Rate? What is SLR Rate?
I HAVE TO APPEAR IN A INTERVIEW FOR THE POST OF SENIOR ASSISTANT-FINANCE , PLEASE SUGGEST ME WHAT TYPE OF QUESTIONS THEY SHOULD ASK ME .
Where are the headquarters of Indian Government Banks?
What propositions should be kept in mind while working with debtors turnover ratio?
How often you visit different places? Are you comfortable in relocation?
What motivates you to do your best while working?
Name the highest civilian award in India?
What is national banking entrance exam (nbet)?
Mention how you can view the Books of Accounts in Tally ERP 9?
what are the activities made during multi currency handling
How To Create A Organizational Group?
What are the different methods of valuation and what are their pros and cons?