Answer:
- The balance in the subsidiary ledger will equal the balance of its supported account in the general ledger.
- The account which the subsidiary ledger supports in the general ledger is called a control account.
- It is a supporting ledger that contains detailed information about a general ledger account.
- Two of the most common subsidiary ledgers are for Accounts Payable and Accounts Receivable.
Explanation:
A subsidiary ledger is defined as a supporting ledger that contains details of an account on the general ledger.
It gives a breakdown of the single amount that reflects in a general ledger account.
For example if the accounts payable account has a balance of $50,000, the subsidiary ledger will show the individual transactions that make up the $50,000.
Therefore the balance of the subsidiary ledger will equal the amount in the general ledger account.
Answer:
Businesses in free enterprise systems compete with each other to produce better products at better prices. Competition leads to innovation, new ideas and a more competitive market. Competiting allows businesses to control themselves and their ideas in an <em>efficent manner. </em>
<em>However, competition in the free enterprise systmem leads to lower wages and income.</em> It leads to the best product at the lowest price. It leads to a variety of products available to the consumer.
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Answer:
a. Imports
b.Exports or Consumption
c. Consumption
d. Government Spending
e. Consumption.
Explanation:
a. if Gilberto buys Italian wine in the US that is part of consumption spending because the store that Gilberto buys from already imported the wine from Italy and paid all the costs that go with it but if Gilberto orders the wine from Italy that will be part of imports because the wine will have to be imported then have all those importing costs on it.
b. Juanitas father will be exporting the syrup if its from the US even though he might buy it online as he lives in Sweden .
c. Juanita will be part of consumption spending for goods and services as this will be part of the US GDP consumption spending.
d. This is part of government purchases as the government will spend on everything that includes repaving the high way.
e. Consumption spending because they are manufactured in the US and they are in the US therefore its part of the US purchases of goods and services.
