Give one advantage of Ledger.
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A trial balance can be prepared with the help of ledger balances which helps in ascertaining the arithmetical accuracy of the accounts.
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Similar Questions
- 1View SolutionWhich transactions will:
- Decrease the Assets and Decrease the Capital.
- Increase the Assets and Increase the Liabilities.
- Increase the Assets and Decrease another Asset.
- Decrease the Assets and Decrease the Liabilities.
- 2View SolutionName any two source documents.
- 3View SolutionIf the capital of a business is ₹ 3,00,000 and liabilities are ₹ 50,000, loss ₹ 70,000, calculate the total assets of the business.
- 4View Solution‘If debts written off as bad are recovered subsequently it should be credited to Debtors Account'. Do you agree?
- 5View SolutionWhat is the rule of recording transactions in Nominal Accounts?
- 6View SolutionIs 'Cash Memo' a source document or an Accounting Voucher?
- 7View SolutionWhy is the Journal called a book of Original entry?
- 8View SolutionWhat is the rule of recording transactions in Personal Accounts?
- 9View SolutionWhen an account is said to have a debit balance?
- 10View SolutionRavi purchased on credit goods for ₹ 5,00,000 Less 20% Trade Discount. As per the terms, he can deduct 4% Cash Discount if he pays the full amount within 15 days. What amount he will have to pay to avail the Cash Discount?