Journalise the following transactions of Mr.Ravi and post them in the ledger and balance the same.
2004,
June 1 Ravi invested Rs.5,00,000 cash in the business
3 Paid into Bank Rs.80,000
5 Purchased building for Rs.3,00,000
7 Purchased goods for Rs.70,000
10 Sold goods for Rs.80,000
15 With drew cash from bank Rs.10,000
25 Paid electric charges Rs.3,000
koi mujhe help kardo please
only correct answer
do it in a column
Answers
Answer:
Double Entry Book Keeping Ts Grewal 2019 Solutions for Class 11 Commerce Accountancy Chapter 6 Ledger are provided here with simple step-by-step explanations. These solutions for Ledger are extremely popular among Class 11 Commerce students for Accountancy Ledger Solutions come handy for quickly completing your homework and preparing for exams.
Answer:
What is journal?
A journal is a thorough account that documents all of a company's financial activities. It is used for account reconciliation in the future and for the transfer of data to other official accounting records, including the general ledger. A journal often uses the double-entry accounting approach and includes the date of a transaction, the accounts that were impacted, and the sums.
What is ledger?
A ledger is a physical or digital record used to keep track of financial transactions. The beginning balance, any debits and credits to the account for the time period, and the closing balance are all displayed in the ledger. Accounts receivable, payable, sales, and payroll are just a few of the balance sheet and income statement accounts that businesses can keep track of in ledgers. The general ledger, which has transaction information for all accounts in the chart of accounts, receives summaries of transactions from subsidiary ledgers on a regular basis and transfers them there.
Now, we will make journal of Mr. Ravi transactions and then put into ledger.
Hence, from the concept of journal and ledger we have make the Mr. Ravi transactions.
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