Q.Explain the meaning of 'J.F.' (Journal Folio) and 'L.F.' (Ledger Folio), and how they work together to make a set of books easy to audit.

These two small reference columns are what actually let someone trace any single figure back and forth between the Journal and the Ledger.

J.F. (Journal Folio) is a column in each Ledger account, filled in at the time of posting, recording the page number of the Journal from which that particular entry was posted. If someone reading the Cash Account wants to verify or investigate a ₹20,000 entry, the J.F. column tells them exactly which page of the Journal to turn to, to see the original entry (and its narration) in full.

L.F. (Ledger Folio) is the mirror-image column, kept in the Journal itself, filled in at the time of posting, recording the page number of the Ledger to which each account named in that journal entry was posted. Someone reading a journal entry can use the L.F. column to jump straight to the relevant ledger account and see its full running history. …

Reversing the two — writing 'L.F.' as if it belongs in the Ledger and 'J.F.' as if it belongs in the Journal; each folio column is actually kept in the OTHER book from the one …