Question

Write the process of preparing ledger from a journal.

Answer 1

The answer is stated below:

Explanation:

The steps to be followed for preparing the ledger from journal is as:

1. Locate the ledger, the first account which is named in the Journal.
2. Then write the date of the transaction in the column of date or the credit side of the account.
3. Enter or mention the credit side of the ledger, in the particulars column, the name of the account should be debited by prefix - By.
4. Then mention the folio column of the ledger, which is the page number of the journal from which the entry is posted.
5. Mention the amount on the credit side of the ledger in accordance of the journal.
6. And the last step is to write the ledger page in the folio column of the journal.

These steps need to be followed for account which is mentioned in the journal or transaction.

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Answer 2

Answer:

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