what is journal?
Answers were Sorted based on User's Feedback
Answer / sonali
Journal is a process of recording day to day business
transactions in a systamatic manner in the books of
accounts.
Is This Answer Correct ? | 14 Yes | 0 No |
Answer / sk arun kumar
Journal is a systematic recording of business transactions
in a chronological and understandable manner in a book
called journal proper on a daily basis, it is called as journal.
Is This Answer Correct ? | 6 Yes | 1 No |
Answer / harendra pal
journal record all business entry day to day.
Is This Answer Correct ? | 4 Yes | 0 No |
Answer / surendra
it is the book where the transactions are first posted
Is This Answer Correct ? | 3 Yes | 0 No |
Journal this term derive from "journ" is called a day book
it is starting point of accounting cycle where the entry are
written in first time a business a daily transactions in a
understandable manner .
Format of a General Journal Entry
Date Accounts Debit Credit
mm/dd account to be debited xxxx.xx
account to be credited xxxx.xx
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / r.senthil kumar
Jounarl is nothing but it is a non monitary transaction
and it will be helpful for colse the ledger in right
accounting system.
for example Commission payable to Mr.A Rs.5000
Answer Commission payable A/c Dr Rs.5000/-
To Mr.A A/c Rs.5000/-
Here commission is outstanding but particular expenses is
closed in correct ledger
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / jayakar
journal is a data of status containing regular transactions
which gives clar information.
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shaik.sikander pasha
journal entries is a book of account where all business
transaction ill recorded in jounal entries
for example; paid salaries are electrical bills
so entries is
salaries a/c dr (It comes under nominal
a/c)
to cash cr
electrical bill a/c dr
to cash cr """"""""""""
we hav to enter like dis it is call journal entries
And its is easy to enter into ledger a/c to find the
amount of the customer statisfied
Is This Answer Correct ? | 0 Yes | 0 No |
WHAT WILL BE THE ACCOUNTING ENTRIES IN THE BOOKS IN CASE OF A COMPANY HAVING ITS SHARE CAPITAL WHEN A NEW COMPANY (LTD OR (P) LTD) IS FORMED ?
Who constitute 'staff' for the purposes of showing 'total staff costs' in the accounts?
expand C T O
You are working in a Company but due to certain reasons you were not able to complete the work given to you on time, so to write a Letter of Apology to your Senior regarding it.
Bank a/c....Dr. To Debtor's A/c Is this journal entry a contra entry?
Expand---------ECBD
difference between retail invoice & tax invoice
what is the distinction between provisions and reserves
HIREPURCHASE VS INSTALMENT PURCHASE
WHAT IS IFRS?
Expand ________DGFT
what is a contra entry how it is passed in journal and cashbook