In accounting, all of a company's transactions are recorded in a general ledger. Transactional data is categorized into assets, liabilities, income, expenses, and owner's equity within a general ledger.
A trial balance is used to validate debit and credit account records in a general ledger, which is the mechanism for keeping track of a company's financial data. It keeps track of every financial transaction that occurs during the course of an operational company's existence, as well as account information that is needed to prepare the financial statements.
The core of a company's double-entry accounting system is the general ledger. All of the transaction data required to compile the income statement, balance sheet, and other financial reports are contained in general ledger accounts.
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ACCOUNTING: LEDGER
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In accounting, all of a company's transactions are recorded in a general ledger. Transactional data is categorized into assets, liabilities, income, expenses, and owner's equity within a general ledger.
A trial balance is used to validate debit and credit account records in a general ledger, which is the mechanism for keeping track of a company's financial data. It keeps track of every financial transaction that occurs during the course of an operational company's existence, as well as account information that is needed to prepare the financial statements.
The core of a company's double-entry accounting system is the general ledger. All of the transaction data required to compile the income statement, balance sheet, and other financial reports are contained in general ledger accounts.
Accounting: Ledger
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