journal, ledger and trial balance

journal, ledger and trial balance indeep understanding with examples . A brife note on their pratical implimentation of journal, ledger and trial balance . their formate with explaination and examples

1. Journal, ledger and trial balance Final Project presentation Presented by Abdullah Hamid Khan 2171055

2. Journal, Ledger and Trial Balance

3. What is Journal, Ledger and Trial Balance A journal entry shows all the effects of a business transaction as expressed in debit(s) and credit(s) and may include an explanation of the transaction. A   ledger (general ledger) is the complete collection of all the accounts and transactions of a company. A company prepares a trial balance periodically, usually at the end of every reporting period .

4. Link Between them

5. How to Prepare Journal, Ledger and Trial Balance

6. Question from book

7. Journal

8. Ledger

9. Trial Balance XYZ organization Trial Balance January 31,2005 Debit Credit Cash           Account Reciveable       Office Supplies         Office Equipment’s       Accounts Payable       Capital Stock         Consulting Revenue       Rent Expanse         Utilities Expense                     Total      

10. What is different between Journal ,Ledger and Trial Balance Journal The book in which all financial transactions of a business are recorded Chronological order Used in preparation of ledger Different in format Recording purpose Ledger The ledger holds financial information needed to make the financial statements N o order It is used for making the trial balance and final accounts T-shape type format T ells the history Trial Balance A trial balance is a bookkeeping worksheet in which the balance of all  Ledger  are compiled into debit and credit account column totals that are equal assets, liabilities, equity, dividends, revenues, and expenses order It is used in making of financial statements Different format form both Internal reporting

11. Practical Implementations A ccountants usese Journal for recording business transactions and its help in making of Ledger of accounts Ledger’s tells us the history of an account and help us in making of Trail balance Trail balance is used for internal reporting and in making of external reporting ( in making of financial statements )

12. Summary

13. Thanks