Asked by Leslie


Can you please let me know how do you keep a running balance for an account using four column accounts.

Thanks!!

Answers

Answered by Chopsticks
Do you mean like a balance sheet?
Answered by Leslie
Yes...
Answered by Chopsticks
Well, do you need help making a balance sheet?

Just remember A=L+E

Answered by Leslie
Yes, thank you!

The first two columns (debit and credit )are the journal entry and the last two colunms are the ledger( debit and credit ). Do I just copy the numbers to each side. How would I know what to deduct. Are there any websites that I would be able to view to show me how to do this.

Answered by Chopsticks
This sounds more like your posting stuff to the general ledger. Are there any T-accounts involved?

Are you using the "Fundamental Financial Accounting Concepts" book?

If so, you can check the back cover of the book. It should give you a website telling you where to view these sort of stuff.
Answered by Leslie
Im using accouting by Horngren and harrsion
Answered by Chopsticks
Ok, I get what your trying to do. Your posting all those journal entries to the ledger. In that case, you should find out which is a debit and which is a credit from the journal entry, and then post it top the ledgers.

About the deduction, what do you mean by that?
Answered by Leslie
I was told that if I have cash that it should be deducted from the ledger. I am not understanding...
Answered by Chopsticks
Why would it be deducted from the ledger? All your doing is posting what you got from the journal entries to the general ledgers.
Answered by Chopsticks
Can you type down some of the journal entries so I can see them?
Answered by Leslie
Thank you, I was able to figure some of the questions out.

Thanks again!!
There are no AI answers yet. The ability to request AI answers is coming soon!