What is a general ledger?

Asked by Last Modified  

5 Answers

Follow 0
Answer

Please enter your answer

Tutor

A general ledger is the master set of accounts that summarize all transactions occurring within an entity. It is an accounting information that a business uses to build financial reports.
Comments
Dislike Bookmark

A general ledger is a complete record of financial transactions over the life of a company. The ledger holds account information that is needed to prepare financial statements, and includes accounts for assets, liabilities, owners' equity, revenues and expenses.
Comments
Dislike Bookmark

It's a complete record of company's financial transactions over the life of a company. Leger holds information which is required to prepare financial statements.
Comments
Dislike Bookmark

Rocker

All the journal entries which has been journalised are posted to Ledger. It shows the complete accounting transaction party wise. With the help of Ledger We can prepare Finanicial Statement of an entity.
Comments
Dislike Bookmark

Accounts Tutor

General Ledger means..... Every business has a variety of expenses and ways of earning income, just as you have different bills and different income streams. Like you, a business may have utility bills, rent expenses, and vehicle repair costs, while its income may come from different places, such as...
read more
General Ledger means..... Every business has a variety of expenses and ways of earning income, just as you have different bills and different income streams. Like you, a business may have utility bills, rent expenses, and vehicle repair costs, while its income may come from different places, such as sales, interest from bank accounts, loans, or from selling items that the company owns. You might record these events as they occur in your life in your check register. For a business, all of these financial events, or transactions, must be recorded in their financial books. The general ledger is a company's master account book, with all of the various accounts in one place. The general ledger is used in conjunction with a couple of other accounting tools. read less
Comments
Dislike Bookmark

View 3 more Answers

Related Questions

Which course is best in IT
I Perfer to go for Cloud Automation Tools. i.e Ansible, Terrafrom and etc. This is best booming technologies in IT market for next 5 years.
Noman
How can I get good marks without taking tuition in an F.Y.B.Com?
Through proper exam oriented learning approach, Through time management, By following all topics given in your syllabus, By solving some last year exam papers, Internet and social media like YouTube can also help. Wishing you all the best.
Nice
0 0
9
I had studied mba finance from a normal college so will I get job in worldwide if I learn german language
Yes, getting job will not be a problem, there are very few companies who will ask for branded names, you should keep applying. Remember to have command on soft skills, mannerism and communication skills,...
Mubarak
Will I fetch 95% if I take up bcom tuition?
Scoring 95% is never in the hands of a tutor (B Com Tutor). It always depends on how much hard work you have put in your studies.
Naina
Need help in taxation law, Civil procedure code, Information Technology law, Insurance Law,Media Law and GATT(General Agreement on Tariff and Trade)
You can contact gago bhaiya Saharapur
Aaheli
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

QABD - Calculation of Arithmetic Mean
For Discrete Data Direct Method: xÌ? = Σfx/N Deviation Method: xÌ? = A + Σu/N Where A = Assumed Mean & u = X - A Step Deviation Method: xÌ? = A + Σfu/N Where A...
S

Satish V.

0 0
0
Proposed 18% GST Rate To Not Impact Home Prices.
While a final decision on the rates is yet to be taken, the rating agency said the final rates to be notified would be the key determinant of the impact of GST on the sector New Delhi: The proposed...

Fr Prashanth Reddy

How India Can Beat China Economically?
China has become a nuisance to India and its Development. Being a member in UN, BRICS, G20, and importantly being India’s neighbour having boundary disputes, China has become big threat to India...

Venkatesh

1 1
0
Computation of Salary income
Basic Salary (+) DA (+) Bonus (+) Taxable portion of allowances (+) Advance Salary (+) Fees (+) Commission (+) Taxable value of perquisities (+) Wages (+) Profit in lieu of salary (+) Taxable...

Anand Eriwal

0 0
0
Types of Financing
Types of Financing Bridge Financing Bridge finance refers to loans taken by a company normally from commercial banks for a short period because of pending disbursement of loans sanctioned by financial...

Fr Prashanth Reddy

6 0
0

Recommended Articles

How To Choose The Right School For Children?

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

The Trend of E-learning and it’s Benefits

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Science, Arts Or Commerce - Which One To Go For?

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

5 Engaging Activities For Children To Get...

Learning for every child starts from a very young age. While the formal methods include school curriculums and private lessons, the informal methods include dancing, music, drawing, and various fun-filling activities. Playing games and practising these types of activities helps the children get out of boredom and...

Read full article >

Find BCom Tuition near you
BCom Tuition in Delhi
BCom Tuition in Bangalore
BCom Tuition in Mumbai
BCom Tuition in Hyderabad
BCom Tuition in Chennai
BCom Tuition in Kolkata
BCom Tuition in Pune
BCom Tuition in Gurgaon
BCom Tuition in Noida
BCom Tuition in Ghaziabad

Looking for BCom Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you