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A ledger[1] is a book or collection of accounts in which accounting transactions are recorded. Each account has: an opening or brought-forward balance; a list of transactions, each recorded as either a debit or credit in separate columns (usually with a counter-entry on another page) and an ending or closing, or carry-forward, balance.
The history of accounting or accountancy can be traced to ancient civilizations. [ 1 ][ 2 ][ 3 ] The early development of accounting dates to ancient Mesopotamia, and is closely related to developments in writing, counting and money [ 1 ][ 4 ][ 5 ] and early auditing systems by the ancient Egyptians and Babylonians. [ 2 ]
His ledger had accounts for assets (including receivables and inventories), liabilities, capital, income, and expenses – the account categories that are reported on an organization's balance sheet and income statement, respectively. He demonstrated year-end closing entries and proposed that a trial balance be used to prove a balanced ledger.
Ledger art is narrative drawing or painting on paper or cloth, predominantly practiced by Plains Indian, but also from the Plateau and Great Basin. Ledger art flourished primarily from the 1860s to the 1920s. A revival of ledger art began in the 1960s and 1970s. The term comes from the accounting ledger books that were a common source of paper ...
Accounting machine. An accounting machine, or bookkeeping machine or recording-adder, was generally a calculator and printer combination tailored for a specific commercial activity such as billing, payroll, or ledger. [1][2] Accounting machines were widespread from the early 1900s to 1980s, [3] but were rendered obsolete by the availability of ...
Accounts clerk. v. t. e. Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding ...
Antique medicines contained everything from arsenic to opium -- and promised instant cures.
Accounting, also known as accountancy, is the process of recording, processing and analyzing information about economic entities, such as businesses and corporations. [1][2][1][3][4] Accounting measures and analyzes [5] the results of an organization's economic activities and conveys this information to a variety of stakeholders, including ...