Question

what is ledger and different between ledger and journal​

Answer 1

Answer:

ledger is the book which contains classified and permanent records of all the transactions of business

Answer 2

ANSWER

______________________________________

Ledger :- Ledger is the book which contains a seperate account for each, debtor and creditor, assets, liability, income and expenses of business.

______________________________________

•Ledger includes all the basic accounts needed for the preparation of financial statements.

•It may be defined as a book which contains in a summarised and classified form a permanent record of all transactions.

•The process of recording transactions from the general into classified accounts in the ledger is called "posting".

______________________________________

Journal :- A General is a book of daily transactions in which all the transactions are recorded.

______________________________________

•Journal is a book of original entry.

•Transactions are recorded in the general as and when they occur i.e the record is chronological.

•The process of recording transaction in the general is called "generalising" necessary to analyse it is so what we may know which account is to be debited and which account is to be credited.

______________________________________