by adam kasia | Jul 13, 2010 | Principles of Accounting
Trial balance is a statement of debit and credit balances extracted from the ledger, with a view to test the arithmetical accuracy of the books. One of the basic principles of double-entry is that for every debit there must be a corresponding credit. Therefore the... by adam kasia | Jul 13, 2010 | Principles of Accounting
Ledger is a book which contains separate page for each account and shows complete collection of all the accounts of a company. When the journal entries are recorded, the next step is to transfer the journal entry information from the journal to the ledger. This... by adam kasia | Jul 13, 2010 | Principles of Accounting
In accounting system, each business transaction is first recorded in an accounting record called the journal. Since the transactions are initially recorded in a journal therefore it is also called book of original entry. The process in which one account is debited and... by adam kasia | Jul 12, 2010 | Principles of Accounting
In order to record the journal entries, one must know the rules of debit and credit. First of all we should know the meaning of debit and credit. In journalizing, debit simply means the act of recording entry on left side of an account whereas credit means recording... by adam kasia | Jul 9, 2010 | Principles of Marketing
Price adjustment strategies refer to all those strategies which are applied by an organization to take into consideration the differences among the customers and rapidly changing environment. The important price adjustment strategies are: geographical pricing,...