5- Explain the function of ledger?
- 1 Answers
- 2498 Views
- I also Faced
- E-Mail Answers
Answer / aqeel raza
The bunch of accounts is called ledger, its main function is to provide end result of amount as to balance in debit or in credit. If balance in general ledger which consists on assets, liabilities and owner’s equity, as asset is debit means to have or to receive, liabilities is debit means to pay the amount to whom the debit taken and owner’s equity is credit means to have the amount of investment. The balances in temporary accounts; expense and revenue; are ended on calculation of profit and loss which is transferred to general ledger account.
The main function of maintaining ledger is to provide end balance of all accounts to next stage as to trial balance.
| Is This Answer Correct ? | 0 Yes | 0 No |
Who is considered the father of accounting?
When goods are returned, how about the Tax collected on them.? The Buyer or the seller who will bear that /
What is the abbreviation for the accounting terms debit and credit?
What is the definition of manual accounting?
Q. Journalise The fllowing Transction.. 1. Case Sales Rs. 50000
what is the unique thing about employees that employers expect to see at an interviews.
what is the differance between bank od and bank occ?
Sold goods to Gasha 600 by cash
IS CASH DISCOUNT/RECIVED IS OPERATING EXPENSE/INCOME?
how to make budgeting ?
whether depreciation is fundfolw or cashfolw?
what are the entry for payment of city bank credit card through hdfc bank in tally 7.2 ?
Audit 
