What is a General Ledger Balance? How can it be arrieved at?

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What is a General Ledger Balance? How can it be arrieved at?..

Answer / rajesh

General ledger balance nothing like statement of accounts
for particular creditors/debtors.during finalization of
accounts we have confirm this to our debtors/creditors.
eg: Sundry Debtors
Sales is Rs.10,000/-.
We got cheque for Rs.10,000/-. Now ledger balance is Nil

Eg: Sundry Creditors
Purchase is Rs.50,000/-.
We given Cheque for Rs.44,000/-. Balance amount Rs.6,000/-.
payable to them.this is general ledger balance. it can be
arrived at Balance sheet.if it is sundry creditors will get
from current liabilities & sundry debtors will get from
current asset

Is This Answer Correct ?    8 Yes 2 No

What is a General Ledger Balance? How can it be arrieved at?..

Answer / pawan kumar garg

General Ledger reflects the transaction done during the
period for a particular vendor/debtors/expediture.

Is This Answer Correct ?    5 Yes 1 No

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