Which of the following general ledger accounts will have a subsidiary ledger account? Cost of Goods...
- Which of the following general ledger accounts will have a subsidiary ledger account?
- Cost of Goods Sold account
- Joe’s Accounts Receivable subsidiary account
- Operating Expenses account
- Work-in-Process Control account
Homework Answers
Which of the following general ledger accounts will have a subsidiary ledger account?
Ans: a) Cost of Goods Sold account
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Which of the following general ledger accounts will have a
subsidiary ledger account?
Cost of Goods...
1. Which of the following is NOT a common subsidiary ledger? a. Inventory subsidiary ledger b....
1. Which of the following is NOT a common subsidiary ledger? a. Inventory subsidiary ledger b. Accounts payable subsidiary ledger C. Accounts receivable subsidiary ledger d. Cost of goods sold subsidiary ledger
The general ledger account representing the subsidiary ledger is known as a control account because: Select...
The general ledger account representing the subsidiary ledger is known as a control account because: Select one: a. Inclusion of both control accounts and subsidiary ledger accounts in the general ledger improves control b. the accuracy of the detailed accounts in the subsidiary ledger can be checked against the aggregate data and the balance contained in it c. both of the above are correct d. none of the above are correct
Please help. 1. Postings to the control accounts in the general ledger are made a. annually...
Please help.
1. Postings to the control accounts in the general ledger are made a. annually b. daily. c. monthly d. weekly 2. The balance of a control account in the general ledger a. must always be zero. b. must equal the amount of total assets. c. is always greater than the composite balance of individual accounts in a related subsidiary ledger. d. must equal the composite balance of individual accounts in a related subsidiary ledger. 3. Postings are made...
to w 30) Payment of the factory rent would required A) Debit Manufacturing Overhead Control account...
to w 30) Payment of the factory rent would required A) Debit Manufacturing Overhead Control account Credit Cash 3) Debit Work-in-Process Control account Credit Cash C) Debit: Factory Depreciation account Credit Accumulated Depreciation Control D) Debit: Cost of Goods Sold account Credit: Prepaid Rent Explanation: A) 3) The ending balance in the Work-in-Pro Control account represents the cost of all jobs that A) have been completed and sold to customers 1) are reported on the income statement C) have been...
On September 1, the balance of the Accounts Receivable control account in the general ledger of...
On September 1, the balance of the Accounts Receivable control account in the general ledger of Montgomery Company was $10,520. The customers’ subsidiary ledger contained account balances as follows: Hurley $1,450, Andino $2,290, Fowler $2,080, and Sogard $4,700. At the end of September, the various journals contained the following information. Sales journal: Sales to Sogard $750, to Hurley $1,100, to Giambi $1,360, and to Fowler $1,120. Cash receipts journal: Cash received from Fowler $1,370, from Sogard $2,130, from Giambi $330,...
the general ledger account that corresponds to a subsidiary ledger account is known as a (n)...
the general ledger account that corresponds to a subsidiary ledger account is known as a (n) A)dependent account. B)attribute account. C)credit account . D)control account
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities (a-e)...
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities (a-e) Clear All Accounts payable subsidiary ledger Accounts Payable Cr. Adjustment for expired insurance Payments to creditors on account No subsidiary ledger posting Accounts receivable subsidiary ledger Accounts Receivable Cr. Sales on account Collections from customers Accounts payable subsidiary ledger Accounts Payable Dr. on account Accounts receivable subsidiary ledger Accounts Receivable Purchases on account Dr.
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities Clear...
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities Clear All Collections from customers on account No subsidiary ledger posting Adjustment for expired insurance Accounts receivable subsidiary ledger/Accounts Receivable Dr. Payments to creditors on account Accounts payable subsidiary ledger/Accounts Payable Dr. Accounts receivable subsidiary ledger/Accounts Receivable Cr Purchases on account Accounts payable subsidiary ledger/Accounts Payable Cr Sales on account
question 4 Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, bal...
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
On September 1, the balance of the Accounts Receivable control account in the general ledger of...
On September 1, the balance of the Accounts Receivable control
account in the general ledger of Carla Vista Company was $11,030.
The customers’ subsidiary ledger contained account balances as
follows: Hurley $1,500, Andino $2,720, Fowler $1,960, and Sogard
$4,850. At the end of September, the various journals contained the
following information.
Sales journal:
Sales to Sogard $730, to Hurley $1,180, to Giambi $1,220, and
to Fowler $1,220.
Cash receipts journal:
Cash received from Fowler $1,270, from Sogard $2,370, from
Giambi...
1. Which of the following is NOT a common subsidiary ledger? a. Inventory subsidiary ledger b. Accounts payable subsidiary ledger C. Accounts receivable subsidiary ledger d. Cost of goods sold subsidiary ledger
The general ledger account representing the subsidiary ledger is known as a control account because: Select one: a. Inclusion of both control accounts and subsidiary ledger accounts in the general ledger improves control b. the accuracy of the detailed accounts in the subsidiary ledger can be checked against the aggregate data and the balance contained in it c. both of the above are correct d. none of the above are correct
Please help.
1. Postings to the control accounts in the general ledger are made a. annually b. daily. c. monthly d. weekly 2. The balance of a control account in the general ledger a. must always be zero. b. must equal the amount of total assets. c. is always greater than the composite balance of individual accounts in a related subsidiary ledger. d. must equal the composite balance of individual accounts in a related subsidiary ledger. 3. Postings are made...
to w 30) Payment of the factory rent would required A) Debit Manufacturing Overhead Control account Credit Cash 3) Debit Work-in-Process Control account Credit Cash C) Debit: Factory Depreciation account Credit Accumulated Depreciation Control D) Debit: Cost of Goods Sold account Credit: Prepaid Rent Explanation: A) 3) The ending balance in the Work-in-Pro Control account represents the cost of all jobs that A) have been completed and sold to customers 1) are reported on the income statement C) have been...
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities (a-e) Clear All Accounts payable subsidiary ledger Accounts Payable Cr. Adjustment for expired insurance Payments to creditors on account No subsidiary ledger posting Accounts receivable subsidiary ledger Accounts Receivable Cr. Sales on account Collections from customers Accounts payable subsidiary ledger Accounts Payable Dr. on account Accounts receivable subsidiary ledger Accounts Receivable Purchases on account Dr.
Match each subsidiary ledger and general ledger posting to one of the descriptions of activities Clear All Collections from customers on account No subsidiary ledger posting Adjustment for expired insurance Accounts receivable subsidiary ledger/Accounts Receivable Dr. Payments to creditors on account Accounts payable subsidiary ledger/Accounts Payable Dr. Accounts receivable subsidiary ledger/Accounts Receivable Cr Purchases on account Accounts payable subsidiary ledger/Accounts Payable Cr Sales on account
question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
On September 1, the balance of the Accounts Receivable control
account in the general ledger of Carla Vista Company was $11,030.
The customers’ subsidiary ledger contained account balances as
follows: Hurley $1,500, Andino $2,720, Fowler $1,960, and Sogard
$4,850. At the end of September, the various journals contained the
following information.
Sales journal:
Sales to Sogard $730, to Hurley $1,180, to Giambi $1,220, and
to Fowler $1,220.
Cash receipts journal:
Cash received from Fowler $1,270, from Sogard $2,370, from
Giambi...
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