What is Trial Balance: if you are look for what is trial balance then you are at the right place, here we will discuss what trial balance is in accounting..! When Ledger accounts have been prepared the next to prepare the trial balance by posting the balances of ledger accounts. It is a list […]
How to Make Ledger Account
How to make Ledger Account Objective of Ledger: The following objective of ledger are: 1.To classify the business transactions with a view to determine the real increase or decrease in any item during a particular period. 2.To extract a Trial Balance for proving the arithmetical accuracy of the accounting record. 3.To provide a record of […]
Accounting Journal Entries Examples
Accounting Journal Entries Examples The first step in accounting is to record the entries in journal book. Before going to explain how these Journal Entries are passed you must read Debit and Credit Rules. The following practical example helps you to understand that how we pass journal entries in journal book or daily […]
Debit Credit Rules in Accounting
Debit Credit Rules in Accounting In Financial Accounting Debit and Credit rules or principles of debit and credit, are used to complete double entry effect in the books of accounts,the basic principles which are used to complete transaction are explained as under; The account has two parties i.e Debit(Dr.) or left […]
What is General Journal
What is General Journal General journal may define as; An accounting record where all business transactions are originally entered. A journal details which transactions occurred and what accounts were affected. Journal entries are usually recorded in chronological order, and using the double-entry method of bookkeeping. You may also like to Read Debit Credit […]