Question

How do you write a ledger?

Answer 1

When writing a ledger one must divide each of the accounts into two parts, a debit side and a credit side. All the debit entries are recorded on the right side of the ledger and all credit entries are recorded on the left side of the account. Provide for all assets and expenses on the left side of the account and liabilities and income and equity on the right side of the account. Both the sides of the account, that is the debit and credit side must tally to each other.

Also see:

• MCQs on Ledger
• Ledger in Accounting
• What Is General Ledger?