Accounting

Loose-leaf Ledger In a loose-leaf ledger, appropriate ruled sheets of thick paper are introduced and fixed up with the help of a binder. Whenever necessary…

In the Journal, every transaction is dealt with individually. Therefore, it is not doable to be familiar with at a glance, the net result of…

Opening Entry When a business begins the books for a new year, it has to make what is known as the opening entry in the…

Bad Debts Recovered Some times, it so occurs that the bad debts formerly written off are consequently recovered. In such case, the cash account is…

Bad Debts In business, bad debt is the part of a loan or assortment of loans a lender considers to be uncollectable. When the goods…

Compound Journal Entry When two or further transactions of comparable nature take place on the similar date, such transactions can be entered in the journal…

Bank Transaction In  Bank Transaction, an institution (bank or financial institution) offering definite financial services, such as the security of money, exchange of home into…

Capital and Drawings It is vital to the reminder that business is treated as a detached entity from the businessman. All transactions of the business…

Journal is a date-wise record of all the transactions with particulars of the accounts debited and credited and the total of each transaction. In accounting,…

Steps in Journalizing The procedure of analyzing the business transactions under the heads of debit and credit and recording them in the Journal is called…