Advertisement Remove all ads

What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts - Accountancy

Advertisement Remove all ads
Advertisement Remove all ads
Answer in Brief

What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts

Advertisement Remove all ads

Solution

J.F. number is the number that is entered in the ledger at the time of posting entries into their respective accounts.

It helps in determining whether all transactions are properly posted in their accounts.

It is recorded at the time of posting and not at the time of recording the transactions.

The purpose of entering J.F. number in the ledger is because of the below given benefits.

1. J.F. number helps in locating the entries of accounts in the journal book.

In other words, J.F number helps to locate the position of the related journal entry and subsidiary book in the journal book.

2. J.F. number in accounts ensures that recording in the books of original entry has been posted or not.

Concept: Recording of Transactions 1
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

NCERT Accountancy Financial Accounting 1 Class 11
Chapter 3 Recording of Transactions - I
Questions for practice | Q 8 | Page 88
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×