Why is the Ledger called the book of Final entry?

Why transactions are recorded on the basis of source documents?

From the following information find the capital of Vijay: Total Assets 5,00,000; Creditors ₹ 1,00,000; Loan from Bank ₹ 1,50,000.

What is an Invoice?

If total assets of a business are ₹ 1,30,000 and net worth is ₹ 80,000, calculate the creditors.
[Hint: Net Worth = Assets - Liabilities]

What journal entry is passed in case of purchase of goods from outside the state?

Proprietor of the firm has withdrawn goods for his personal use. The accountant has recorded it as sale in the books of accounts. Is he correct in doing so?

If total assets of the business are ₹ 4,50,000 and outside liabilities are ₹ 2,00,000, calculate owner's equity.

Increase in an Asset Account is recorded on its debit side. Give reason.

1. A had a capital of ₹ 75,000 on 1st April, 2018. He had also goods amounting to ₹ 15,000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business.
2. After a period of one month, he came to know that he had suffered a loss of ₹ 1,700. He withdrew ₹ 800 for his personal use. Find out his capital and assets of the business.