Conclusion for journal entries , ledger accounts, trial balance,balance sheet.....for project
Answers
Conclusion for journal entries: Journal is an entry made for books of accounts maintained by documentary evidence of a business.
Conclusion for ledger accounts : A General Ledger account is an account used to store balance sheet and income statement transactions. Examples: Cash, Inventory.
Conclusion for trial balance: Trial Balance is a summary statement where the balance of all ledger accounts are listed according to their debit or credit.
Conclusion for balance sheet : The balance sheet is a recode at a single point in time of the company's accounts - covering its assets, liabilities and shareholders' equity. The purpose of the balance sheet is to give users an idea of the company's financial position along with displaying what the company owns and owes.
Journal can be referred as the entries which are made for the books of the accounts maintained by the documentary evidence of any business.
The General Ledger account can be defined as an account that is used for storing the income statement and balance sheet transactions.
Trial Balance can be the summary statement in which the balance of accounts are enlisted according to credit or debit.
The balance sheet is the record at any single point in case of company's accounts.