Write the word, term, phrase, which can substitute each of the statement.
1) Principal Book of accounts.
2) Transferring a journal entry to the appropriate accounts in the Ledger.
3) Page number of Ledger to which an entry is posted.
Ans: L.F (Ledger Folio)
4) The process of extracting the balance and inserting it on lesser side of an account.
5) A debit balance to Personal Accounts.
6) A credit balance to Bank Account.
Ans: Bank Overdraft.
7) An account to be debited for goods damaged by fire.
Ans: Loss by Fire A/c
8) A Trial Balance in which only net balances of all ledger accounts are transferred.
Ans: Net Trial Balance.