JournalA journal is a chronological (arranged in order of time) record of business transactions. JOURNAL ENTRYA journal entry is the...

A ledger is the principal book in accounting where all the financial transactions of a business are recorded. It contains...

A Subsidiary Book, also known as a book of original entry, is a specialized accounting book used to record specific...

What is a Cash Book? A cash book is a financial journal that records all cash transactions of a business....

A trial balance is a listing of all accounts (in this order: asset, liability, equity, revenue, expense) with the ending account balance....

1. To ascertain the arithmetical accuracy of the ledger accountsIt provides useful check up of ledger posting. If trial balance...

This statement indicates the differences between the passbook and cash book of the entity. By reconciling the differences that exist...

Bookkeeping is the process of systematically recording, organizing, and managing all financial transactions of a business or individual. It serves...

Objectives of Accounting 1. To provide information about the business activities to the owners, stakeholders or investors and creditors facilitating...

1. Business entity conceptThe transactions of a business are to be kept separate from those of its owners. By doing...