Question

How do you classify accounts? What is ledger? What is meant by sub-division of ledger?

Answer 1

General Ledger Divisions. Ledger accounts are divided into five major categories. The categories are organized in the same manner that accounts appear on your balance sheet and income statement. Assets are the first category on the balance sheet, so assets are the first division for your ledger.

Answer 2

$\huge\colorbox{white}{Aηѕωєя}$

1. • Personal accounts.

⠀⠀⠀• Real accounts.

1. A ledger is a book or collection of accounts in which account transactions are recorded.
2. The Personal Ledger is again subdivided into :-

　　(a) Debtors' Ledger

　　(b) Creditors' Ledger.