sexyjamaican
Jan 20, 2010, 06:40 PM
Given a accounting question with trading and profit and loss for say may 2006 and balance sheet for the same month and year. ALso given a question to open ledger for the current month say June do u use the balance frm the previous month as balance brought down in the ledger
morgaine300
Jan 21, 2010, 09:48 PM
given a accounting question with trading and profit and loss for say may 2006 and balance sheet for the same month and year.
This isn't a question, and the sentence doesn't make any sense.
ALso given a question to open ledger for the current month say June do u use the balance frm the previous month as balance brought down in the ledger
"Opening a ledger" can mean two things from the standpoint of a problem. It essentially just means to set up the ledger for the accounts you will be using, so it's simple. e.g. you just take a ledger and write Cash and its account number, then the next account, etc. If there also happen to be balances from a prior month, then those would be carried forward as well and a "bal fwd" or some such notation. If there is not balance to carry forward, they still want you to set up the account (meaning make it exist) but no balance to insert.