B Com Exam > B Com Notes > Accountancy and Financial Management > PPT - Journal, Ledger and Trial Balance
PPT - Journal, Ledger and Trial Balance | Accountancy and Financial Management - B Com PDF Download
| Download, print and study this document offline |
Please wait while the PDF view is loading
Page 1 JOURNAL,LEDGER AND TRIAL BALANCE Page 2 JOURNAL,LEDGER AND TRIAL BALANCE ? Journal means a daily record of business transactions. Journal is a book of original entry because transaction is first written in the Journal from which it is posted to the ledger. JOURNAL Page 3 JOURNAL,LEDGER AND TRIAL BALANCE ? Journal means a daily record of business transactions. Journal is a book of original entry because transaction is first written in the Journal from which it is posted to the ledger. JOURNAL ? Increase Debit ASSET Decrease Credit Increase Credit LIABILITY Decrease Debit Increase Debit EXPENSE Decrease Credit Page 4 JOURNAL,LEDGER AND TRIAL BALANCE ? Journal means a daily record of business transactions. Journal is a book of original entry because transaction is first written in the Journal from which it is posted to the ledger. JOURNAL ? Increase Debit ASSET Decrease Credit Increase Credit LIABILITY Decrease Debit Increase Debit EXPENSE Decrease Credit ? Increase Credit REVENUE Decrease Debit Increase Credit EQUITY Decrease Debit Page 5 JOURNAL,LEDGER AND TRIAL BALANCE ? Journal means a daily record of business transactions. Journal is a book of original entry because transaction is first written in the Journal from which it is posted to the ledger. JOURNAL ? Increase Debit ASSET Decrease Credit Increase Credit LIABILITY Decrease Debit Increase Debit EXPENSE Decrease Credit ? Increase Credit REVENUE Decrease Debit Increase Credit EQUITY Decrease Debit Bob Sample opened the Campus Laundromat on September 1, 2017. During the first month of operations, the following transactions occurred. Sept. 1 Bob invested $20,000 cash in the business. 2 The company paid $1,000 cash for store rent for September. 3 Paid $1,200 for a one-year accident insurance policy. 4 Bob withdrew $700 cash for personal use. The chart of accounts for the company is the same as that for Pioneer Advertising plus No. 610 Advertising Expense. Instructions: (a) Journalize the September transactions. (Use J1 for the journal page number.) (b) Open ledger accounts and post the September transactions. (c) Prepare a trial balance at September 30, 2017.Read More
|
44 videos|75 docs|18 tests
|
FAQs on PPT - Journal, Ledger and Trial Balance - Accountancy and Financial Management - B Com
| 1. What is a journal in accounting? |  |
Ans. A journal is a book or record in accounting where all financial transactions are initially recorded in chronological order. It serves as a primary source of data for the preparation of ledger accounts.
| 2. What is a ledger in accounting? | |
Ans. A ledger is a book or record in accounting where individual accounts are maintained. It summarizes and classifies all the transactions recorded in the journal, providing a detailed view of each account's balance.
| 3. What is a trial balance in accounting? | |
Ans. A trial balance is a statement in accounting that lists all the debit and credit balances of the ledger accounts. Its purpose is to ensure that the total debits equal the total credits, helping to identify any errors or discrepancies in the recording of transactions.
| 4. What is the purpose of a journal, ledger, and trial balance in accounting? | |
Ans. The journal is used to record all financial transactions in chronological order, ensuring accurate and systematic recording. The ledger then takes the information from the journal and organizes it into individual accounts, providing a clear picture of each account's balance. The trial balance acts as a summary of all the ledger balances, helping to verify the accuracy of the recorded data.
| 5. How are journal, ledger, and trial balance related in the accounting cycle? | |
Ans. In the accounting cycle, transactions are first recorded in the journal, then transferred to the respective ledger accounts. Once all transactions have been recorded and posted to the ledger, a trial balance is prepared to ensure that debits equal credits. If the trial balance balances, it indicates that the recording and posting of transactions have been done accurately.
Related Exams
About this Document
|
4.71/5 Rating |
|
Nov 15, 2024 Last updated |
Document Description: PPT - Journal, Ledger and Trial Balance for B Com 2024 is part of Accountancy and Financial Management preparation.
The notes and questions for PPT - Journal, Ledger and Trial Balance have been prepared according to the B Com exam syllabus. Information about PPT - Journal, Ledger and Trial Balance covers topics
like and PPT - Journal, Ledger and Trial Balance Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for PPT - Journal, Ledger and Trial Balance.
Introduction of PPT - Journal, Ledger and Trial Balance in English is available as part of our Accountancy and Financial Management
for B Com & PPT - Journal, Ledger and Trial Balance in Hindi for Accountancy and Financial Management course.
Download more important topics related with notes, lectures and mock test series for B Com
Exam by signing up for free. B Com: PPT - Journal, Ledger and Trial Balance | Accountancy and Financial Management - B Com
Description
Full syllabus notes, lecture & questions for PPT - Journal, Ledger and Trial Balance | Accountancy and Financial Management - B Com - B Com | Plus excerises question with solution to help you revise complete syllabus for Accountancy and Financial Management | Best notes, free PDF download
Information about PPT - Journal, Ledger and Trial Balance
In this doc you can find the meaning of PPT - Journal, Ledger and Trial Balance defined & explained in the simplest way possible. Besides explaining types of
PPT - Journal, Ledger and Trial Balance theory, EduRev gives you an ample number of questions to practice PPT - Journal, Ledger and Trial Balance tests, examples and also practice B Com
tests
|
44 videos|75 docs|18 tests
|
Download as PDF
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Objective type Questions
,ppt
,PPT - Journal
,Free
,Important questions
,past year papers
,Ledger and Trial Balance | Accountancy and Financial Management - B Com
,Summary
,Extra Questions
,shortcuts and tricks
,Sample Paper
,Ledger and Trial Balance | Accountancy and Financial Management - B Com
,Semester Notes
,Exam
,mock tests for examination
,Ledger and Trial Balance | Accountancy and Financial Management - B Com
,Previous Year Questions with Solutions
,video lectures
,practice quizzes
,Viva Questions
,PPT - Journal
,MCQs
,PPT - Journal
,study material
;
Additional Information about PPT - Journal, Ledger and Trial Balance for B Com Preparation
PPT - Journal, Ledger and Trial Balance Free PDF Download
The PPT - Journal, Ledger and Trial Balance is an invaluable resource that delves deep into the core of the B Com exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the PPT - Journal, Ledger and Trial Balance now and kickstart your journey towards success in the B Com exam.
Importance of PPT - Journal, Ledger and Trial Balance
The importance of PPT - Journal, Ledger and Trial Balance cannot be overstated, especially for B Com aspirants.
This document holds the key to success in the B Com exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
PPT - Journal, Ledger and Trial Balance Notes
PPT - Journal, Ledger and Trial Balance Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to PPT - Journal, Ledger and Trial Balance.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, PPT - Journal, Ledger and Trial Balance Notes on EduRev are your ultimate resource for success.
PPT - Journal, Ledger and Trial Balance B Com Questions
The "PPT - Journal, Ledger and Trial Balance B Com Questions" guide is a valuable resource for all aspiring students preparing for the
B Com exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study PPT - Journal, Ledger and Trial Balance on the App
Students of B Com can study PPT - Journal, Ledger and Trial Balance alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the PPT - Journal, Ledger and Trial Balance,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of PPT - Journal, Ledger and Trial Balance is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup