Use of excel in processing business transaction Microsoft Excel was released in 1985 and has grown to become arguably the most important computer program in […]
Trial Balance Objectives and Preparation of trial balance is a bookkeeping worksheet in which the balance of all ledgers is compiled into debit and credit […]
Normal Account Balances The debit or credit balance that would be expected in a specific account in the general ledger. For example, asset accounts and […]
General Ledger A general ledger is the foundation of a system used by accountants to store and organize financial data used to create the firm’s […]
T-Account A T-account is an informal term for a set of financial records that uses double-entry bookkeeping. The term describes the appearance of the bookkeeping […]
The Journals A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an […]
The Double Entry System The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of […]
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