what explain the rule of journalising
Answers
Answer:
Rules of Journalizing:
The act of recording the transactions in journal is called Journalising. This recording is made according to certain rules and these rules are called rules of journalising.
The businessman must enter into transactions with a number of persons or firms, possess some property, for example,
Cash, furniture, machinery etc. to carry on the business, pay certain expenses, for example, rent, salaries, wages etc. and receive certain incomes, for example, interest, commission, dividend etc. through business.
Explanation:
One amount in the debit column must be equal to two or more amounts in the credit column or one amount in the credit column equals to two or more amounts in the debit column or under compound entry, a few debits will be equal to a few credits. The rule for journalising is the same as that of simple journal.