Sign In
Ask Question
Camille Beasley
Business
14 July, 02:16
What is journal and ledger
+1
Answers (
1
)
Vasquez
14 July, 02:18
0
ledger account contains a record of business transactions.
while
journal is defined as the book of original entry.
Explanation:
A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Cash. Accounts receivable.
A journal is a detailed account that records all the financial transactions of a business, to be used for future reconciling of and transfer to other official accounting records, such as the general ledger
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Find an answer to your question 👍
“What is journal and ledger ...”
in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $400,000, of which $240,000 pertain to sales that were made during June. Budgeted sales for July are $1,250,000.
Answers (1)
2[81+90-16]-1/3[|11-2 (25) |]
Answers (1)
Incurred manufacturing overhead costs a. $6,000 in indirect materials b. $9,200 in indirect labor (credit Wages Payable) c. $4,750 in machinery depreciation d. $13,300 in other indirect costs that were paid in cash
Answers (1)
The business of streaming video is radically different from DVD-by-mail in several key ways, including content costs, content availability, revenue opportunities, rivals and their motivation.
Answers (1)
Which of the following statements is true with regard to team processes? A) This category comprises variables that relate to how teams should be staffed.
Answers (1)
New Questions in Business
Cow's Milk Farms needs a certain part for its pasteurizing equipment and enters into a contract to purchase the part from Dairy Supplies Inc., for $3000, with delivery promised on Monday.
Answers (1)
Adam is looking for a job in marketing. he has had some offers and his prospects are promising, but he has not yet accepted a job.
Answers (1)
What does a wholesaling company do
Answers (1)
A community organizer wants to convince state officials to create a universal preschool program so that all families with young children will have access to affordable child care.
Answers (1)
Kirsty is going to open a jewellery business. which of the following production methods should she use job, batch or flow production? (10 marks)
Answers (1)
Home
»
Business
» What is journal and ledger
Sign In
Sign Up
Forgot Password?