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Answer Posted / srinivas annavarapu
General ledger is that which is having all the chart (list)
of accounts of the business where we will post the values
in respective accounts from Day book.
GL is the base to prepare Trial balance based on which the
Financial statements are prepared.
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
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