Book
Keeping - 5 marks question asked in 1995
& 2016
Differences
between
|
Journal
|
Ledger
|
|
1. Book of Original entry
|
1. Book of Final entry
|
|
2. It is a Subsidiary Book
|
2. It is a Principal Book
|
|
3. It is prepared from the vouchers, receipts, bills, etc
|
3. It is prepared from the Journal.
|
|
4. Transactions are recorded in the
journal in chronological order.
|
4. Transactions are posted in the
ledger in classified form.
|
|
5.Narration is required
|
5. Narration not required
|
|
6.There is no scope for balancing
the Journal
|
6. Balancing the Ledger is must
|
|
7. Journal is the
Basis for Ledger.
|
7. Ledger is the basis
for Final Accounts i.e., Profit & Loss Account and Balance Sheet.
|
|
8. In journal, ledger folio (L.F.)
is written.
|
8. In ledger, journal folio (J.F.) is written.
|
|
9. Recording of the
transactions in the journal is called journalizing.
|
9. Recording of
transactions in the ledger is called posting.
|
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