Question

prepare swamis account from the following ledger​

Answer 1

Explanation:

The ledger accounts begin after journal entry. A journal entry is consists of the daily business transactions but it does not give information a specific account in one place such as if the business owner knows the position of the cash balance of his business. The accountant or bookkeeper would have to check all cash transactions of journal entries and this is quite an arduous job, because of hundred even thousands of cash transactions has recorded in various journal pages. To avert this difficulty, debit and credit transactions of the journal entry is transferred to ledger accounts. This transferred makes single accounts are located in one place that is ledger accounts. It makes easier to determine the current balance of an account. So we can discuss what is ledger account with example, what is ledger account format and accounts types

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