Question

What are the merits of ledger

Answer 1

Importance And Utility Of Ledger Accounts. ... Ledger account helps to prepare a trial balance in order to check the arithmetical accuracy of the recording of the financial transactions of the business. 4. Ledgeraccount helps to prepare profit and loss account so as to ascertain the profit or loss of the business.
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Answer 2

The ledger account helps to prepare a trial balance in order to check the arithmetical accuracy of the recording of the financial transactions of the business and it helps to prepare profit and loss account so as to as certain the profit or loss of the business.