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1- Can ledger make without journal?
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Answer / aqeel raza
Journal is the source of providing information to ledger accounts relating to transaction’s date, nature of account, reference number, applied rubes and amount. The information in journal comes from vouchers which make base to source documents.
Ledger is the bunch of accounts requires prescribed information which may be supplied by journals or from the source documents to which journal make base for recording. Then we are in right to say that ledger can be made from source documents but the importance of maintaining journals is in its own place. The diary for cash or bank will have to maintain necessarily if ledger is made without journals or cash book.
In small business where some transactions occurred in a month, it can be applied but where transactions’ volume is huge, the practice of maintaining journals must be adopted.
The good way is to walk step by step.
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on 01/04/2009 Goods sold to Mr."A' on Credit at $ 1000. Exchange Rate :- 01/04/2009..........$50.00 at payment Date Exchange Rate :- 01/05/2009..........$48.00 What is Journal Entry..?
Re: one customer visit the showroom of phones and purchased the phone of Rs 750 and gave the 1000 rupees note the showroom executive didn't have the change so he take the change from next to his showroom's shop then he deliver the phone to customer with the change of rs 250.and customer went with both after sometime the shop owner of next to showroom who gave the change of Rs 1000 with angry and told the showroom executive that the note you give it to me is fake! so showroom executive gave him Rs1000 to him.so my(question) is how much the showroom executive faced the loss on this transaction. (the answer is neither 750,1000,1250,1500,1750 nor 2000) please reply the answer because its urgent with the explanation of u'r answer thankyou.
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