Preparation of journal entries
Amit Kumar (1 Points)
24 September 2022Amit Kumar (1 Points)
24 September 2022
Yasaswi Gomes new
(Finance )
(4469 Points)
Replied 24 September 2022
Based on the three golden rules.
Income statment has all nominal accounts
Balance sheet has all real and personal accounts.
In the books of original entry, all transaction are recorded in a line but the amounts are posted to debit or credit.
From there these transactions are transferred to individual ledgers. The above one is called a jgeneral journal and this one comes into general ledgering.
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 24 September 2022
sabyasachi mukherjee
(25973 Points)
Replied 25 September 2022
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 25 September 2022
Yasaswi Gomes new
(Finance )
(4469 Points)
Replied 25 September 2022
That is what I meant. Followed a counting cycle/process
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