what is the difference between JOURNAL ENTRY & LEDGER
Answer Posted / rahul.k.a
JOURNAL :-
* Transactions are recorded first in the journal.
* Balancing is not done in the books of original entry.
* The process of recording entries in the books of original entry is called JOURNALISING.
* There is no uniformity in the keeping of various books of original entry.
LEDGER :-
* Transactions recorded finally in the ledger.
* Transactions are recorded in an analatical manner.
* All ledger accounts are balanced.
* The process of recording entries in the ledger is called posting.
* There is uniformity in the keeping of the ledger.[ there are two equally divided sides ]
Is This Answer Correct ? | 6 Yes | 1 No |
Post New Answer View All Answers
Highlight the key features of Union Budget 2017
What's Purchase and selling of foreign currency?
Do you know anything about PPP?
What is the source of income of government?
what is weighted average rating factor?
Explain various Types of Merging?
What are the threats to internet security?
Why the companies prefer preference capita rather than debenture capital?
What is 'bill of exchange' (boe)?
Differentiate between future contract and forward contract?
What are RTGS and NEFT?
What is 'electronic fund transfer system' (efts)?
What is a Bill of Lading?
Explain the role of chief actuaries?
Where is first Aviation Park located?