What is General Ledger

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Why closing stock appears both in trading and Balance sheet? Why does it doesnot appear in trail balance.

1863


what is the core accounts

1687


Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office

1497


what is finance what is bpo why do u want join a BPO types of process in BPO Company's

1623


In order to comply with the matching principle, adjustment entries are made at the preparation of ----------

1654






Please let me know what to answer how long you prepared for SBI exam? if selected your credit goes to whom?

1609


how to do the recurring entries or steps to follow that

1513


Short Answer on __________written Down value

1519


An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?

1537


Short Answer on _________Accounts Receivable

1467


Nike,Inc. has developed a variable-overhead rate of $10 per machine hour,and estimates fixed overhead $250,000 for production up to 100,000 units per year. If the production manager estimates 9,000 machine hours for the production of 90,000 units next year, what are estimated variable-overhead costs?

1823


Assets are held in the Business for the purpose of____________________

1774


what is Calculation of Gross Profit Or Gross Loss?

1760


what is payment method?How many payment method we can assign to company code.

1255


how Mis reports are used?n why it is used ? explain

1534