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Rectification of errors

Accountancy

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

Parikshit Rathod

CA Foundation

★ 710

15-Sep-20 11:43

329

Answers (7)

This is solved in class.

CA Suraj Lakhotia

Admin

15-Sep-20 15:52

CA Suraj Lakhotia Admin

This is solved in class.

Sir but 4 th point is not there in the class

Prasanth kumar Kamisetty

CA Inter

★ 12K+

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.

CA Suraj Lakhotia

Admin

15-Sep-20 16:54

CA Suraj Lakhotia Admin

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

Meaning of other ledger

Prasanth kumar Kamisetty

CA Inter

★ 12K+

15-Sep-20 16:58

Prasanth kumar Kamisetty

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.

CA Suraj Lakhotia

Admin

15-Sep-20 16:59

Thank you

Prasanth kumar Kamisetty

CA Inter

★ 12K+

15-Sep-20 17:00

Ohk

Thread Starter

Parikshit Rathod

CA Foundation