Question

Identify the different steps in the account process, then explain.

Answer 1

Answer:

5

Explanation:

journal= first of all entries record here it has 5 columns

ledger= is a subsidiary book which is the summary of journal like cash book, bill receivable book etc.

trial balance= is a summary of ledger a/c it shows accounting principles

trading & p/L a/c = it record profit or loss generated during a year. it is nominal a/c.

balance sheet= it is a statment and last things created during a year which record real and personal nature of a/cs.

hope u understand!!!!!!!!!