Unit 02 Accounting Cycle and Journal
Meaning and Features of Journal
Journal in Accounting A journal is a record of financial transactions where transactions of a bus...
Simple and Compound Entries
Simple Journal Entries In double-entry bookkeeping, a simple journal entry is a type of accountin...
Recording of GST Transactions
Goods and Services Tax (GST) The Goods and Services Tax (GST) is a unified, indirect tax system t...
Capital and Revenue Expenditures
Capital Expenditures (CapEx) and Revenue Expenditures (RevEx) In accounting, Capital Expenditures...
Capital and Revenue Receipts
In accounting, capital receipts and revenue receipts are two categories used to classify the cash...
Contingent Assets and Liabilities
Contingent Assets and Liabilities Contingent assets and liabilities are potential assets and liab...
Preparation of Ledger
Ledger A Ledger is a book that contains all the accounts used to record financial transactions, a...
Preparation of Trail Balance
Preparation of Trial Balance A Trial Balance is a statement that lists all the general ledger acc...