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3 years ago

Which statement about subsidiary ledger is most accurate

2 answers:

4 0

The accounts receivable subsidiary ledger is a book of accounts that provides supporting detail for Accounts Receivable.

DochEvi [55]3 years ago

4 0

Answer: A subsidiary ledger account is a group of accounts in the sense that when these group of accounts are closely observed, the total combined balance equals that of a specific general ledger account.

Explanation:

The subsidiary ledger contains details of a specific general ledger. It acts as an intermediary set of account that connect to the general ledger. Examples of subsidiary (sub) ledger account are account payable ledger, account receivable ledger, fixed assets ledger, inventory ledgers and purchases ledger. Auditors can trace transactions from a subsidiary ledger account to a specific general ledger account and also to the financial statement to be assured that proper transactions of accounts are taken and recorded.

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Earth Movers, Inc., uses dynamite to prepare land for highway projects. Strict liability is imposed on this activity because:___

skad [1K]

Answer: c. The activity is abnormally dangerous

Explanation:

Strict liability is also referred to as the absolute liability, and this term means legal responsibility for injury or damages, despite the fact that the individual or business that's found strictly liable wasn't negligent or probably at fault for the injury to damages.

In this case, if Earth Movers, Inc., uses dynamite to prepare land for highway projects, a strict liability is imposed on this activity because it is abnormally dangerous.

8 0

2 years ago

The last custodian of the petty cash fund was hospitalized and you have been asked to take stock of the fund and replenish it. W

Arlecino [84]

Answer:

General Journal

Accounts Titles and Explanation Debit Credit

Office supplies $295

Advertising expense $120

Transportation expense $75

Cash short and over $11 

Cash ($800 - $299) $501

(Being replenishment of fund recorded)

5 0

3 years ago

The Taffy Trust is a simple trust. Sean is its sole beneficiary. In the current year, the trust earns $12,000 in taxable interes

algol [13]

Solution and Explanation:

a. Accounting income is computed below:

Taxable interest 12,000.00

Rental income 30,000.00

Long term capital gain 0.00

Long term capital loss 0.00

Fees 0.00

Less: depreciation -2,800.00

Trust accounting income 39,200.00

b. One half of fiducary's fee = 6500 divided by 2 = 3250. This amount will be allocated to accounting income of the trust.

Taxable interest 12,000.00

Rental income 30,000.00

Long term capital gain 4,000.00

Long term capital loss -1,100.00

Fees -3,250.00

Depreciation -2,800.00

Trust accounting income 38,850.00

3 0

3 years ago

Market segmenting is __________.

Mrrafil [7]

Separating people into groups based on their characteristics, problems, needs, and desires

3 0

3 years ago

Which term describes the ability to use different types of reasoning for different situations and analyze the possible outcomes

lesya692 [45]

The answer is "a. critical thinking".

Critical thinking is a standout among the most looked for after aptitudes in pretty much every industry and each work environment. It alludes to the capacity to break down data dispassionately and make a contemplated judgment.

You can show your critical thinking capacities by utilizing watchwords identified with basic reasoning in your resume and introductory letter, and during your interview.

7 0

2 years ago

Read 2 more answers