What is a General journal?

General journal is a Day Book, Journal, or Book of original entry. In General journal all Day-to-day Accounting transactions are recorded. These transactions must exclusively relate to the business entity. Transactions are extracted from source documents( Invoices, receipts, cheques, purchase order, etc) and recorded as Journal entry, adjusting entry, closing entry, etc.

Accounting practice question: Acquisition of Gas oven by Foodwarm.

On july-1st-20XX Foodwarm Dicided to buy a Gas oven for their Bakery from Hussnain Appliances. The list price was Rs. 800,000. Foodwarm was allowed 5% discount on their list price. Hussnain Appliances offered further cash discount of 8% if the balance paid before 25-July-20XX. Foodwarm also incurred the following expenses.

10 Earning tips for students in Pakistan.

If you are a student living in Pakistan. Than you must learn some ways to make extra bucks to support your day to day tasks(Pocket Money), and even your education. As many students in Pakistan support their education by earning. You can too start making money while still in college/ University. Here are the 10 ways that a student can earn in Pakistan.
1.T-shirt business. Being the 8th largest textile exporter in Asia. Pakistani clothing market is always a good sector for investment. As a student you can start a trendy t-shirt business in your College/ University. You just need to be up to dated with recent trends. Like recent rise in comic book characters T-shirts etc. 2.E-commerce. With the rising trend of online shopping stores. E-Commerce is on the verge of becoming very large market in Pakistan. You can sell many products on platforms like daraz.Pk, or etc. From Books to Clothing anything can be sold online now-a-days. You just need to set up an online store. With right m…

7 Struggles of every business student ever.

For some, studying business might be their passion, and turning your passion into your profession is the main goal for many. However, when you are a beginner at anything you may sure face many struggles to fulfil your goals. Following are the 7 most common struggles faced by business students.

4 most effective ways to improve your writing skills.

Achieving good writing skills is the most troublesome yet important part of solving case studies. Many students struggle because of their poor writing skills( To be clear, this article is about improving writing skills & not handwriting.). There are many ways to improve writing skills from which we have gathered 4 most effective ways to improve writing skills.

Best Balance Sheet memes on the internet.


Accounting practice question: Prepare General journal of B.I.K.