Class 11 Solution Chapter 9 Ledger
Class 11 Solution Chapter 9 Ledger Chapter 9 Ledger TS Grewal Class 11 Solutions Question.1. What is a Ledger? Answer.1 Meaning of a Ledger: Earlier, we discussed the term Account. In an account, transactions of one nature are posted or summarized. All the accounts put together constitute a 'Ledger'. A Ledger may be defined as a "book or register which contains, in a summarized and classified form, a permanent record of all transactions." It is the most important book of accounts, since, the Trial Balance is drawn from it and from the Trial Balance, and Financial Statements are prepared. Hence, the Ledger is called the Principal Book. Question.2. What do you mean by posting? Answer.2 Posting or posting the Entries means: The process of transferring the information contained in a Journal to a Ledger is called Posting. The following procedure is followed for posting the debit and credit aspects of the transaction recorded in a Journal: ...