135k views
1 vote
Why ledger is prepared

User LOLKFC
by
8.4k points

1 Answer

3 votes
Ledger is the principal book without which financial statements like p&l and balance sheet cannot be ascertained so ledger is to be prepared. The account wise balances of each account from ledger are taken and then trial balance is prepared. trail balance cannot be prepared with the help of journal only.
User Mukul Kumar
by
8.0k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories