Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C4 Joumal2 Marks
Question
Describe the characteristics of journal
✓
Answer
Characteristics of journal are as follows.
$(1)$ The journal is the fundamental, first or basic book of accounts,
$(2)$ According to the rulesof debit and credit, the dual effect of an accounting transaction is recorded in it.
$(3)$ In theorder of date, transactions are recorded in journal.
$(4)$ Immediately below the journal entrywritten in journal, a brief explanation of transaction is given in the brackets as narrationso that the detailed information about the journal entry is also available.
$(5)$ The amountof the account to be debited is written in the debit amount column and the amount of theaccount to be credited is written in the credit amount column.
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