Ledger Homework Help

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What is ledger?

 
There are many accounting journals maintained in a business to record all the transactions done in a particular financial period of time. Ledger account is one of the accounts which need to maintain the journals. All journal entries, in a chronological order, are shifted to individual accounts. Recording journal entries into ledger is called as posting. This article belongs serves the purpose of ledger homework help for students.
Any information about a specific account in one place can be achieved from ledger account and the debit and credits of a already journalized accounts are transferred to ledger account in order to know so.
 

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Characteristics of a ledger account

 
In our ledger homework help article the basic characteristics shown are as follows
 
1. It has two identical columns that is left and right signifying debit and credit transactions respectively.
2. The difference in the totals of the two sides is called as balance. The excess of debit side over credit side is called as debit balance and the same is called credit balance in the case of excess of credit side over debit side.
3. The two sides should be made equal in order to achieve the closing balance.
4. The same closing balance will represent itself as the opening balance for the next financial year.
 

Forms of ledger accounts

 
Our ledger homework help article writers sort the ledger accounts into the following two types
 
a. Standard form.
b. Self balancing form.
 
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