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  • Advantages and Disadvantages of Journal

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    marof
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    The document discusses the advantages and disadvantages of using a journal to record business transactions. The advantages are that a journal shows a complete story of each transaction in a single entry, helps locate and prevent errors, provides a record of all transactions, and makes it easy to find mistakes in the ledger. The disadvantages are that it can be difficult to find information about a particular item, one error can propagate to other books, journals become bulky with large numbers of transactions, and journals do not provide prompt information.

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    The document discusses the advantages and disadvantages of using a journal to record business transactions. The advantages are that a journal shows a complete story of each transaction in a single entry, helps locate and prevent errors, provides a record of all transactions, and makes it easy to find mistakes in the ledger. The disadvantages are that it can be difficult to find information about a particular item, one error can propagate to other books, journals become bulky with large numbers of transactions, and journals do not provide prompt information.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    992 views2 pages

    Advantages and Disadvantages of Journal

    Uploaded by

    marof
    The document discusses the advantages and disadvantages of using a journal to record business transactions. The advantages are that a journal shows a complete story of each transaction in a single entry, helps locate and prevent errors, provides a record of all transactions, and makes it easy to find mistakes in the ledger. The disadvantages are that it can be difficult to find information about a particular item, one error can propagate to other books, journals become bulky with large numbers of transactions, and journals do not provide prompt information.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 2

    Advantages:

    • Journal shows the complete story of transaction in one


    entry.
    • It helps to locate and prevent errors..
    • Journal provides a data wise record of all the transactions.
    • A mistake in ledger can be easily detached with the help
    of journal.
    • It provides an explanation of the transaction.
    Disadvantages:
    • Difficult to find information related to particular item.
    • One error in journal can forward error to further
    account books.
    • As the numbers of transections in business are large,
    journal becomes bulky and voluminous.
    • Journal does not provide information on prompt basis.

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