IndigoLearn

Rectification of errors

Illustration 7 q 4 photo attached how to solve it and what is general ledger

Attachments

20200915_114131.jpg


Parikshit Rathod

Parikshit Rathod

CA Foundation

710

15-Sep-20 11:43

12

Answers (7)

This is solved in class.


Suraj Lakhotia

Suraj Lakhotia

Admin

15-Sep-20 15:52

This is solved in class.

Sir but 4 th point is not there in the class


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

15-Sep-20 16:26

It means bad debt is not accounted. Sales ledger refers to sales and debtors ledgers. General ledger refers to other ledgers.


Suraj Lakhotia

Suraj Lakhotia

Admin

15-Sep-20 16:54

Meaning of other ledger

Sales ledger, records accounts receivable. This ledger consists of the financial transactions made by customers to the company. Purchase ledger records money spent for purchasing by the company. General ledger representing the five main account types: assets, liabilities, income, expenses, and capital.


Suraj Lakhotia

Suraj Lakhotia

Admin

15-Sep-20 16:59

Thank you


Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

15-Sep-20 17:00

Ohk


Parikshit Rathod

Parikshit Rathod

CA Foundation

710

15-Sep-20 17:13