Individuals, firms and institutions to whom goods and services are sold on ................. by business become

the ‘trade debtors’ of the business.

Asset ledger commonly has entries that bolster the company’s financial strength but, if an asset decreases

in value, ................. also is recorded.

Most businesses are required to have a general ledger, which is made to record every financial dealing

within the company; this includes any ................. coming in or going out and the changing of values.

An asset ledger only details one aspect of financial dealings: assets. These are things that help give the

company money, can be................. into cash or are used to get work done.

In a general ledger, assets are ................. as general assets, with little or no distinguishing features.

Ledger posting is the process of transferring the debit and the credit ................. from the journal to the

The journal entries recorded during the first step provide information about which ................. are to be

debited and which to be credited and also the magnitude of the debit or credit

The accounts payable ledger, also called the creditors ledger, is a subsidiary ledger that lists all of the

vendors and suppliers that a company................. along with their account balances and details.

The accounts payable ledger, also called the creditors ledger, is a subsidiary ledger that lists all of the

vendors and suppliers that a company................. along with their account balances and details.

By having the details of the accounts receivable activity in a subsidiary ledger, a company can better

................. its financial information.

Ledgers record datas for every .................. This information enables business owners to prepare financial

reports for management decisions and to calculate quarterly taxes.

Accounting methods ................. business transactions in several ways, with one of them being a ledger. A

ledger records credits and debits by accounts rather than as chronological day-to-day transactions.

In a manual system, each general ledger account has its own page or ledger; in a ................. system, each

account has its own file location.

Every financial transaction ................. the business is recorded in the general ledger, either as individual

journal entries or as summarized totals from the general journals.

Ledger is called a book of final entry, a ledger records classified and ................. financial information

from journals as debits and credits, and shows their current balances.

Detail-level information for individual transactions is ................. in one of several possible journals, while

the information in the journals is then summarized and transferred to a ledger.

Information is recorded in journals in chronological order by individual transaction, which makes it easier

to sort through information and find the specific items that ................. need.

In a computerized accounting system, the concepts of journals and ledgers may not even be used. In a

smaller organization, ................. may believe that all of their business transactions are being recorded in the

general ledger.

Each entry in the general ledger includes a ................. number that states the source of the information.

The source may be a subsidiary ledger, such as the sales journal or cash disbursements journal.

The process of transfer of entries from Journal and special purpose books to ledger.

It contains all those accounts which are not covered under any of the above types of ledger. For

example Landlord A/c.

An accounting document for a company that only contains details about assets, rather than a

general ledger that records all financial aspects of the company.

Pages number of the ledger

In accounting, it is the ending amount found on the right side of a general ledger account or

subsidiary ledger account.

An additional journal entry is used to correct an incorrect journal entry.

Writing an account title and number on the heading of an account

A business activity that changes assets, liabilities, or owner's equity.

Anything of value that is owned

A list of all the account names and their current balance

A list of accounts is used by a business

It is often defined as the book of original entry.

It is the total amount of funds in an account at the beginning of a business day. The deposits and

debits that take place throughout the day determine an account's available balance.

In accounting, it is the ending amount found on the left side of a general ledger account or

subsidiary ledger account

Rent paid, wages paid, electricity charges

It is a column in the general journal that is used to indicate when entries have been posted to the

ledger accounts

A person, bank, or other enterprise that has lent money or extended credit to another party.

. A person or entity that owes money.

Any person, company or other institution that owns at least one share of a company's stock.

It is a group of similar accounts whose combined balances equal the balance in a specific

general ledger account.

The final destination of all entries made in the journal is the ledger as they are all ________ (subsequence)

transferred to it.

Ledger contains financial transaction accounts related to ________ (lose) and gains, assets and liabilities.

The information given in different ledger accounts will help the________ (manage) in preparing budgets.

Ledger is an account book for recording and totaling________ (money) transactions by accounts with

debits and credits in separate columns.

Your accounting system will have a number of subsidiary ledgers, called sub ledgers, for items such as

cash, accounts receivable, and accounts ________ (pay).

Double-entry transactions are posted in two columns, with debit________ (post) on the left and credit

entries on the right, and the total of all debit and credit entries must balance.

The general ledger accumulates information from journals. Each month all journals are ________ (total)

and posted to the General Ledger.

The

________ (credit) Ledger accumulates information from the purchases journal. Its purpose is to

provide knowledge about which suppliers the business owes money, and how much.

Debtor ledger accounts are opened to ________ (trade) whom has sold the goods, so its other name is

also sale account ledger.

The ledger accounts provide this information at a glance through the account ________ (receive) and

payables.