General Ledger Question
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Demar from Jamaica writes: Where do assets go in the general ledger?
If you're making up an actual General Ledger, with a ledger page for each account on your Chart of Accounts, you always enter the accounts in this order:
Assets (Current Assets first, then Plant Assets, then any Intangible Assets)
Liabilities (Current first, then Long-term)
Equity (Owner Capital Accounts or if a corporation, Common Stock, Retained Earnings, then any Dividends)
Hope that answers your question Demar!
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