BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Date
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Journal Folio
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Particular
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Amount
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Detailed explanation-1: -Explanation: A ledger folio is a very thin column in the journal. It is used to record the page number of the book on which the entry is posted into the ledger account.
Detailed explanation-2: -Many general journals have five columns: Date, Account Title and Description, Posting Reference, Debit, and Credit.
Detailed explanation-3: -Ledger Folio is the page number of the ledger account on which the relevant account appears. All entries from the journal are posted in the ledger accounts. This page number or the folio number of the ledger account, where the posting has been made, is recorded in the L.F. column of the journal.
Detailed explanation-4: -There are four columns in the journal. The first column is for the date, because journal entries are chronologically recorded. The second is for the name of accounts that the transaction concerns. The third column is for the debit (added) value, and the fourth column is for the credit (deducted) value.