What is General Ledger
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Answer / gunturu
ledgers are two types one is general ledger and the other
is personal ledger. general ledger consists of accounts
relating to expenses , incomes , liabilities and assets.
general ledger is the base for preperation of trail balance
| Is This Answer Correct ? | 28 Yes | 3 No |
Answer / nagaraj goud
A company's accounting records. This formal ledger contains
all the financial accounts and statements of a business
| Is This Answer Correct ? | 19 Yes | 2 No |
Answer / hemanth.n.s
The general ledger, sometimes known as the nominal ledger,
is the main accounting record of a business which uses
double-entry bookkeeping. It will usually include accounts
for such items as current assets, fixed assets,
liabilities, revenue and expense items, gains and losses.
The general ledger is a summary of all of the transactions
that occur in the company. It is built up by posting
transactions recorded in the general journal.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / jagi
General Ledger, It is a basic accounts books to prepare a
company finacial satements.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / venkatesh
General Ledger consists all ledgers accounts which is
useful for preparation of Trial balance.
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / srilatha
generalledger is a financial information into a chart of
accounts.
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / amit kumar srivastava
After preparing Jouranal Entries of the transaction than we
prepare General Ledger for each and every account. By
preparing GL we can easily know what is the difference
between the accounts and by this TRIAL BALANCE can be
easily prepared.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / moumita
classification of the transaction into appropiate accounts
relating to the business operation
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / sri
In TALLY, a Ledger means, is an electronic page to
summarize about one person's or creditor's or debtor's or
one thing regularly purchased item or name specified for a
group of expense like tea & snacks, postage & couriers
etc., will be accounted on the name given to the ledger at
the time of creation. using one ledger we can enter all
types of journal entries.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / hashim bim ali
general ledger is a second entry book. when all the cash
expense and cash receipts in the first entry book that is
cash book it is difficult to gather all information from
the cash, therefore it posted to ledger book where all the
heads of accounts are prepared separatly with the help of
general ledger book it becomes very easy to prepare trial
balance at the end of every accounting year.
| Is This Answer Correct ? | 2 Yes | 2 No |
EXPAND_________SEZ
EXPAND______________ROM
comapny paid expense on behalf of other after due date , it recieved it, whichb type of entry company do in accounting? expense claims comes under personal account, real cccount or other?
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How to answer for the question, tell me about ur project? I mean in which format can i say?
what is the basic function of accounting?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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