This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain what subsidiary ledgers are and give examples of three types of subsidiary ledgers that a ... (Read 76 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jul 5, 2018
Explain what subsidiary ledgers are and give examples of three types of subsidiary ledgers that a business mightuse.

Question 2

An owner of a business withdraws cash from his business. Which of the following accounts would need to be reduced to record this transaction?
 
  a. accounts receivable
  b. owner's equity
  c. expenses
  d. accounts payable


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Hikerman221

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

A subsidiary ledger groups a large number of accounts with a commoncharacteristi c together. Each subsidiary ledger is summarized in the generalledger by a controlling account. Most commonly, companies use accountsreceivable and accounts payable subsidiary ledgers to detail individual customer orvendor accounts. Businesses often use subsidiary ledgers to keep track ofequipment purchased, its location, and other equipment data.

Answer to Question 2

b


sammy

  • Hero Member
  • *****
  • Posts: 818
Reply #2 on: Jul 5, 2018
Correct answers!


Hikerman221

  • Sr. Member
  • ****
  • Posts: 346
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Examples of sterile swabs (removed from protective wrappers). Examples of sterile swabs (removed from protective wrappers).
Examples of Cognitive-Behavioral Therapy for Disorders of Anxiety, Stress, and Trauma Examples of Cognitive-Behavioral Therapy for Disorders of Anxiety, Stress, and Trauma
Examples of Body Regions and Their Location Examples of Body Regions and Their Location
Types of Precipitation Types of Precipitation
T cells are of three general types: (1) helper T cells that secrete cytokines, which upregulate the ... T cells are of three general types: (1) helper T cells that secrete cytokines, which upregulate the ...
Types of policy Types of policy
Video: hGH, Thyroid hormones & Aldosterone

For a complete list of videos, visit our video library