Practice - What is a Ledger?
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Practice Questions
Test your understanding with targeted questions
What is a ledger?
💡 Hint: Think about where journal entries go after being recorded.
What does the particulars column indicate?
💡 Hint: Consider it as a description of each transaction.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the main purpose of a ledger?
💡 Hint: Think about the organizational structure of accounting.
True or False: The ledger contains all transactions from different accounts grouped together.
💡 Hint: Consider how transactions are arranged in financial reporting.
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Challenge Problems
Push your limits with advanced challenges
You have a Cash ledger with an opening balance of ₹5,000. Record the following transactions: ₹2,000 received from sales and ₹1,500 paid for supplies. What would be the new balance?
💡 Hint: Remember to always consider the opening balance and how transactions affect it.
Prepare a journal entry for a ledger account after you purchase an asset worth ₹10,000 and pay cash. What will the ledger entries look like?
💡 Hint: Ensure you follow the double-entry system while documenting.
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