The relationship between subsidiary ledgers and general ledgers account constitutes part of the audit trail
The relationship between subsidiary ledgers and general ledgers account constitutes part of the audit trail
Homework Answers
Answer
- The given statement is TRUE.
- The relationship between the two constitute part of the audit trial.
- It provides audit trial from financial statement to source document.
- This is because Subsidiary ledger provides information in detail whereas the general ledger keep the summarized information.
- The cumulative total of subsidiary ledger balances must be equal to the one mentioned in the general ledger.
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The relationship between subsidiary ledgers and general ledgers
account constitutes part of the audit trail
Describe the relationship between the general and subsidiary ledgers.
Describe the relationship between the general and subsidiary ledgers.
Each transaction is posted to various Ledgers and Journals in the accounting system. Identify the Subsidiary Ledger, Journal, and account in the General Ledger for invoices and payments relating to b...
Each transaction is posted to various Ledgers and Journals in the accounting system. Identify the Subsidiary Ledger, Journal, and account in the General Ledger for invoices and payments relating to both creditors and debtors. Debtor Creditor Original transaction Subsidiary Ledger Journal General Ledger Subsidiary Ledger Payment Journal General Ledger
Each transaction is posted to various Ledgers and Journals in the accounting system. Identify the Subsidiary Ledger, Journal, and account in the General Ledger for invoices and payments relating to both...
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Saved QS 7-3 Identifying general and subsidiary ledgers LO C2 For each account, indicate whether it appears in the general ledger or the subsidiary ledger. a. Office supplies b. Accounts Payable James c. Prepaid advertising d. Prepaid insurance e Accounts Payable Julie + Prepaid Rent < Prev 15 of 22 Next > 1 2 3 4 ore 6 7
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20...
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Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and...
Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers Transactions related to revenue and
cash receipts completed by Crowne Business Services Co. during the
period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to
Ohr Co., $6,960. Apr. 5. Received cash from Mendez Co. for the
balance owed on its account. Apr. 6. Issued Invoice No. 794 to
Pinecrest Co., $2,510. Apr. 13. Issued Invoice No. 795 to Shilo
Co., $3,740. Post revenue and collections...
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20...
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Each transaction is posted to various Ledgers and Journals in the accounting system. Identify the Subsidiary Ledger, Journal, and account in the General Ledger for invoices and payments relating to both creditors and debtors. Debtor Creditor Original transaction Subsidiary Ledger Journal General Ledger Subsidiary Ledger Payment Journal General Ledger
Each transaction is posted to various Ledgers and Journals in the accounting system. Identify the Subsidiary Ledger, Journal, and account in the General Ledger for invoices and payments relating to both...
Saved QS 7-3 Identifying general and subsidiary ledgers LO C2 For each account, indicate whether it appears in the general ledger or the subsidiary ledger. a. Office supplies b. Accounts Payable James c. Prepaid advertising d. Prepaid insurance e Accounts Payable Julie + Prepaid Rent < Prev 15 of 22 Next > 1 2 3 4 ore 6 7
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20 to provide educational services. The services provided during the remainder of the month are as follows July 21. Issued Invoice No. 1 to ). Dunlop for $90 on account. July 22. Issued Invoice No. 2 to K. Tisdale for $375 on account. July 24. Issued Invoice No. 3 to T. Quinn for $80 on account. July 25. Provided educational services, $145, K. Tisdale in...
Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers Transactions related to revenue and
cash receipts completed by Crowne Business Services Co. during the
period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to
Ohr Co., $6,960. Apr. 5. Received cash from Mendez Co. for the
balance owed on its account. Apr. 6. Issued Invoice No. 794 to
Pinecrest Co., $2,510. Apr. 13. Issued Invoice No. 795 to Shilo
Co., $3,740. Post revenue and collections...
Revenue Journal; Accounts Receivable subsidiary and General Ledgers Sage Learning Centers was established on July 20 to provide educational services. The services provided during the remainder of the month are as follows: July 21. Issued Invoice No. 1 to J. Dunlop for $115 on account. July 22. July 24. Issued Invoice No. 2 to K. Tisdale for $350 on account. Issued Invoice No. 3 to T. Quinn for $85 on account. July 25. Provided educational services, $300, to K. Tisdale...
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