Question

GENERAL LEDGER Cash Balance Item Refle Dr. Cr. Dr. Cr. Date 2019 June Enter as a formula calling on amounts in the trial balance.
What is the general ledger ?

Answer 1

		A General Ledger is storehouse of all financial transaction of a company in the form of debit and credit entry
		Genral Ledger has various sub ledgers as per chart of accounts of a company
	JOURNAL ENTRY
	Date	Account Title	Debit	Credit
	June,1	Cash	$3,100
		Kris Storey,Capital		$3,100
	June,1	Rent Expense	$4,750
		Cash		$4,750
	June,6	Equipment	$14,100
		Accounts Payable		$14,100
	June,8	Van	$28,500
		Cash		$4,500
		Notes Payable		$24,000	(28500-4500)
	June,10	Supplies	$2,380
		Cash		$2,380
	June,12	Cash	$12,200
		Fees Earned		$12,200
	June,15	Prepaid Insurance	$3,600
		Cash		$3,600
	June,23	Accounts Receivable	$11,900
		Fees Earned		$11,900
	June,24	Van expense	$1,500
		Accounts Payable		$1,500
	June,29	Utilities Expenses	$3,100
		Cash		$3,100
	June,29	Miscellaneous Expense	$950
		Cash		$950
	June,30	Cash	$7,330
		Accounts Receivable		$7,330
	June,30	Wages Expense	$5,070
		Cash		$5,070
	June,30	Accounts Payable	$6,825
		Cash		$6,825
	June,30	Kris Storey, Drawing	$1,600
		Cash		$1,600