Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / navjeet singh
first the journals are prepared. the posting of journal entries into the ledger is called ledger posting. journals are prepared by debiting and crediting . Eg. we debit cash when we receive it from financer. and we credit the financer. reason .
because cash is a real account . real accounts means it deals with assets side. when we receive cash we debit it as the rule for real account is debit what comes in credit what goes out.
We prepare multiple ledgers not just one ledger.All the ledgers collectively is called general ledger. like cash A/c ledger. Purchase A/C ledger. office expenses A/c Ledger. eg. under office expenses we collect all journal entries pretaining to office expenses during the last accounting year and post them into office expense ledger.
| Is This Answer Correct ? | 3 Yes | 3 No |
Post New Answer View All Answers
What do u mean by press releases
why you want to lecturer
Knowing what you know now, walk me through what you would do differently to drive even more success?
What are the advantages & disadvantages of double entry system?
Define bills receivable?
what is t code of journal voucher report with amount?
What is the limitaion of the Trial Balance?!
Do you know what qualities and skills make an account manager successful?
How is the accounting for hire purchase transactions done?
List out some of the accrued expenses and the accounts in which you would record them?
What is cash flow and fund flow?
What is vendor?
how to assign the cost center to GL Account in SAP (FICO)
Tell me where do generally accruals appear on the balance sheet?
How do you prepare mis reports?
