The General Ledger Question: What is the Account Number found in the General Ledger, (Ex. No.101, 301)? Why does each account such as Cash or Owner's capital have their own account number? This account number is then added to the general journal, in the Ref column. Please Explain.

The General Ledger Question: What is the Account Number found in the General Ledger, (Ex. No.101, 301)? Why does each account such as Cash or Owner's capital have their own account number? This account number is then added to the general journal, in the Ref column. Please Explain.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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The General Ledger

Question: What is the Account Number found in the General Ledger, (Ex. No.101, 301)? Why does each account such as Cash or Owner's capital have their own account number? This account number is then added to the general journal, in the Ref column.

Please Explain.

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