S.No.Particulars         L.F.AmountDebitCredit1Cash A/cDr.To Capital A/c(Being capital introduced)**4,00,0004,00,0002Purchase A/cDr.To Cash A/c(Being cash purchase made)**5,00,0005,00,0003Purchase A/cDr.To Abdhul A/c(Being…

Journalize the following transactions and post them in to ledger account: S.No.TransactionsAmount1Commenced business and introduced…

●      Each side of a journal entry is posted in the same side of the ledger.…

Let us see various formats of ledger accounts: Format-1 In the books of M/s. ABC…

Now let us try to understand how a journal works. With the help of journal…

Let us go through the nature of transactions and their treatment in our books of…

“The process of recording a transaction in a journal is called journalizing the transactions.” ---Meigs…

The Problem with Debit Credit Rules The system of debit and credit is right at…

There are two systems of accounting followed - ●      Single Entry System ●      Double Entry System Single…

It is necessary to know the classification of accounts and their treatment in double entry…