What are the functions of a General Ledger? What accounts
are usually maintained in it and from what subsidiary books
are they derived?
Answer Posted / prathiba
Its Journal not general
Journal or registers books where the transactions are recorded in chronological order.
Its function is to record in a chronological order for each type of asset, liability, equity, revenue & expenses.
The journal is determined by the Chart Of A/c [COA].
Subsidiary books are the division of journal. All the eight registers we discussed are subsidiary books.
1.cash book
2.sales book
3.sales returns book,
4.A/c's receivables book
5.purchase books
6.purchase returns books
7.A/c's payables book
8.Journal proper.
Is This Answer Correct ? | 7 Yes | 1 No |
Post New Answer View All Answers
What is accounting period?
I wana give interview as a accountant what the question will asked by interviewer ??? Please suggest me so I can clear inteview. abhinandan
why you want to lecturer
what are your current financial and accounting projects? What is your role?
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?
what s account
In the balance sheet, where do you show tds?
What is Statory Books ?
Explain me bills receivable?
give me examples of the accounting reports you have prepared
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
What is an accounting loss?
Wha is difference between expenses and expenditure
What is an operative accounts?