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Ledger — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountLedger3 Marks
Question
Distinguish between Journal and Ledger.
✓

Answer

Difference between Journal and Ledger
 
Basis
Journal
Ledger
1.
Nature of Book
It is a book of primary entry.
It is a book of final entry.
2.
Basis for preparation
Primary documents (such as vouchers, receipts, etc.) are the basis for recordng transactions in the journal.
Journal is the basis for recording transactions in the ledger.
3.
.Stage of Recording
Recording in the joumal is the first stage.
Recording in the ledger is the second stage.
4.
Object
It is pepared to record all transactions in a chronologlcal order.
It is prepared to see the net effect of various transaction affecting a particular account.
5.
Format
Joumal has five columns:
1.
Date.
2.
Particulars.
3.
Ledger Follo.
4.
Debit Amount.
Ledger has four identical columns on debit and credit sides:
1.
Date.
2.
Particulars.
3.
Journal Follio.
4.
Amount.

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