Dear sir / madam,

Now I am doing ICWAI - stage I, I'm facing prolem in understanding the ledger account & journal entries. Hence, I request you to kindly suggest me a book which can make me good in understaning accounts very well & BASIC ACCOUNTANCY.:)

Journal entry

The entry made in a journal. It will contain the date, the account name and amount to be debited, and the account name and amount to be credited. Each journal entry must have the dollars of debits equal to the dollars of credits.

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Ledger

A "book" containing accounts. For example, there is the general ledger that contains the balance sheet and income statement accounts. There is a subsidiary ledger that contains the detailed, customer account balances for the general ledger account Accounts Receivable.

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Have a good look at:-

http://www.accountingcoach.com/accounting-terms/accounting-dictionary/accounting-terms-L.html

You will find this very helpful.

Just go to a big book store and look in the accounting section for a book that looks right for you.

Consider Allied Signal Corporation's 97/8 % bonds that mature on June 1, 2010. Assume that the interest on these bonds is paid and compounded annually. Determin the value of a $100 denomination Allied Signal Corporation bond as of June 1, 2004, to an investor who holds the bond until maturity and whose required rate of return is:
a. 7%
b. 9%
c. 11%
d. What would be the value of the Allied Signal Corporation bonds at an 8% required rate of return if the interest were paid and compounded semiannually?

Consider Allied Signal Corporation's 97/8 % bonds that mature on June 1, 2010. Assume that the interest on these bonds is paid and compounded annually. Determin the value of a $1000 denomination Allied Signal Corporation bond as of June 1, 2004, to an investor who holds the bond until maturity and whose required rate of return is:
a. 7%
b. 9%
c. 11%
d. What would be the value of the Allied Signal Corporation bonds at an 8% required rate of return if the interest were paid and compounded semiannually?