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xeze [42]
2 years ago
8

Select all that apply Determine which of the following statements are correct descriptions of a subsidiary ledger. (Check all th

at apply.) Multiple select question. The balance in the subsidiary ledger will equal the balance of its supported account in the general ledger. It is a supporting ledger that contains detailed information about a general ledger account. The account which the subsidiary ledger supports in the general ledger is called a control account. Two of the most common subsidiary ledgers are for Accounts Payable and Accounts Receivable. A subsidiary ledger is a general ledger account that appears in the chart of accounts. The balance in the subsidiary ledger will rarely equal the balance in the supported account in the general ledger.
Business
1 answer:
djyliett [7]2 years ago
5 0

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.

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letter b, recording the transaction based on the information in a source document

Explanation:

The "Accounting Cycle" follows a series of steps in order to assist the accounting transactions of a company or business. It starts with the "Transaction step" <em>(the first step</em>) where<u> </u><u><em>the source documents have to be examined in order to analyzed transactions.</em></u> This also includes the recording of the transaction in the journal.

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3 years ago
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According to Krugman, which of the following best indicates the dangers of a strategic trade policy?
Gwar [14]

Answer:

C.Occurrence of a trade war

Explanation:

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If an investor possess a portfolio heavily concentrated in bank checking accounts a financial advisor would most likely suggest
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Answer:

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