1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Inga [223]
2 years ago
7

Review the statements below and choose the one that correctly describes a controlling account. Multiple choice question. A contr

ol account is updated at the end of an accounting period to reflect the net change in all equity accounts. A control account appears in the general ledger and is supported by a subsidiary ledger. A controlling account is a separate account that is a detailed record of a general ledger account. A control account appears in a subsidiary ledger and is supported by a general ledger account.
Business
1 answer:
fgiga [73]2 years ago
3 0

A control account appears in the general ledger and is supported by a subsidiary ledger.

<h3>What is a control account in accounting?</h3>

A control account is known to be a summary-level account that is found the general ledger.

This account is made up of aggregated totals for transactions that are personally stored in subsidiary-level ledger accounts.

Note that;

  • The control account in the general ledger is known as Accounts Payable account.
  • When postings are complete, the subsidiary ledger are said to be equal the balance of the Accounts Payable account in the general ledger.
  • The subsidiary ledger is accurate by preparing a schedule of accounts payable and linking it against the balance in the control account.

Learn more about  controlling account from

brainly.com/question/4656883

You might be interested in
1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted d
melamori03 [73]

Answer:

a. $17.44 per hour

b. $43,600 ; $104,640

Explanation:

The computation is shown below:

a. Single plantwide overhead rate equals to

= Total Overhead Amount ÷ Budgeted Direct Labor Hours

where,

Total overhead amount is

= $625,000 + $900,000 + $105,000 + $175,000 + $300,000 + $75,000

= $2,180,000

And, the budgeted direct labor hours is 125,000

So, the overhead rate is

= $2,180,000 ÷ 125,000

= $17.44 per hour

2. Now the overhead cost is

For Deluxe model

= 2,500 direct labor hours × $17.44 per hour

= $43,600

For basic model

= 6,000 direct labor hours × $17.44 per hour

= $104,640

7 0
3 years ago
A perfectly competitive market is initially in long-run competitive equilibrium. each firm in the market is earning zero economi
Simora [160]
The answer to the question you are asking is e
4 0
3 years ago
After the accounts are adjusted and closed at the end of the fiscal year, accounts receivable has a balance of $340,000 and allo
bija089 [108]
340,000-51,000=$289,000
3 0
3 years ago
How did the economic policies of the republican controlled congress redefine the character of the federal government?
leva [86]
Economic policies of the Republican controlled congress redefined the character of the federal government by changing <span> the way it was viewed as by implementing Clay's program and creating an integrated national banking system that won support by farmers, workers and entrepreneurs that bolstered the Union's ability to fight a long war. Hope this answer helps.</span>
7 0
4 years ago
The plaintiff in a product liability lawsuit has suffered $100,000 worth of damages from an automobile accident. A defect in man
OleMash [197]

Answer:

$60,000

Explanation:

Data provided in the question:

Damages suffered by Plaintiff from an automobile accident = $100,000

Responsibility of manufacturer in the accident = 60 percent

Responsibility of plaintiff in the accident = 40%

Now,

Under the doctrine of contributory negligence

The manufacturer will pay

= Damages suffered × Responsibility of manufacturer

= $100,000 × 60%

= $60,000

5 0
3 years ago
Other questions:
  • From this partial advertisement: Used car $93.38 per month for 60 months Cash price $4,200 Down payment $50 a. Calculate the amo
    5·1 answer
  • Grey's infotech sells customized hardware and software solutions for businesses. the salespeople for grey's have a strict dress
    13·1 answer
  • Prime lending rates are 1) __________ than subprime lending rates and are commonly offered to people with 2)__________ credit sc
    8·2 answers
  • The use of capital in the production process ______.
    10·1 answer
  • The nine-digit number that identifies the bank that a check came from is called a(n) _____. A.account number. B.bank number. C.c
    7·2 answers
  • Axcel Software began a new development project in 2020. The project reached technological feasibility on June 30, 2021, and was
    5·1 answer
  • Assume that Congress recently passed a provision that will enable Barton's Rare Books (BRB) to double its depreciation expense f
    6·1 answer
  • Comparative statements of retained earnings for Renn-Dever Corporation were reported in its 2021 annual report as follows.
    6·1 answer
  • The term value chain refers to the idea that a company is: Group of answer choices The producer of a series of customer-valued p
    14·1 answer
  • Which of the following is not a component included in a standard business plan?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!