Describe a ledger and a chart of accounts. How do these two compare with a book and its table of...

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Describe a ledger and a chart of accounts. How do these two compare with a book and its table of contents? Describe the act of posting. What difficulties could arise if no cross-indexing existed between the general journal and the ledger accounts?

Robert · Accepted Answer

Describe a ledger and a chart of accounts. How do these two compare with a book and 
its table of contents? Describe the act of posting. What difficulties could arise if no 
cross-indexing existed between the general journal and the ledger accounts? 
The ledger is a type of book in which various types of accounts are kept. For example, general 
ledger, purchase ledger, sales ledger. The ledger is a posting of transactions that were 
previously recorded in a sales day book, cash book, general journals daybook and the purchase 
day book.

Describe a ledger and a chart of accounts. How do these two compare with a book and its table of contents? Describe the act of posting. What difficulties could arise if no cross-indexing existed...

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