Jessica A.
Kara B.
Courtney B.
About Me
- bachata rosa
- I'm from Mexico.I find any kind of history interesting. I love to travel!SOCCER is more than a sport to me and ofcourse the more common interest ammong teenagers i like to drive around aimlessly.(which is something my pocket doesn't appreciate.
ch 12: posting to general and subsidiary ledgers
Q1: Explain what a subsidiary ledger is and list the ones that we will be using as we post transactions from the journal to the ledgers.
A1: They are a ledger that is summarized in a single general ledger account. We will be using A/R costumers name and A/P vendors name
Q2: Explain what a controlling account is and list the ones we will be using.
A2:An account in the general ledger that summarizes acounts in a subsidiary ledger.
Q3:Explain where controlling accounts are maintained.
A3:in the Subsidairy ledger
Q4:What is the relationship between a controlling account and a subsidairy ledger?
A4:Both accounts hold the same information. the only difference is that a controlling accounts is more specific and a subsidairy ledger is more general.
Q5: Identify in writing the two schedules that we will prepare.
A5: Schedule of accounts payable and Schedule of accounts receivable
Q6: List the rules for posting a journal’s column totals
A6: General amount columns are not posted. Special amount columns are posted
Q7: Explain why the 3-column account form used in an accounts receivable ledger has a debit balance column.
A7: Because they are assets.
Q8: What is the title of the balance amount column of the accounts payable ledger form and why is that title used?
A8: Credit because it is a liability
Q9: List the steps for starting a new page in the accounts payable ledger.
A9: 1:Write the vendor mane on the Vendor line
2: Write the vendor # in the Vendor No. line
3: Write the date on the date column
4: Write the word balance in the Item column
5: Put a check mark in the Post. Ref. column
6: Write the balance in the proper column
Q10: List the steps for posting to the accounts receivable ledger.
A10: 1:Write the date in the Date column
2: Write the journal page # in the Post. Ref. column
3: Write the amount in the proper column
4: Add the amount in the debit/credit column to the previous debit/credit column and write the new amount in the debit/credit balance column
5: Write the customer # in the Post. Ref. column of the journal.
A1: They are a ledger that is summarized in a single general ledger account. We will be using A/R costumers name and A/P vendors name
Q2: Explain what a controlling account is and list the ones we will be using.
A2:An account in the general ledger that summarizes acounts in a subsidiary ledger.
Q3:Explain where controlling accounts are maintained.
A3:in the Subsidairy ledger
Q4:What is the relationship between a controlling account and a subsidairy ledger?
A4:Both accounts hold the same information. the only difference is that a controlling accounts is more specific and a subsidairy ledger is more general.
Q5: Identify in writing the two schedules that we will prepare.
A5: Schedule of accounts payable and Schedule of accounts receivable
Q6: List the rules for posting a journal’s column totals
A6: General amount columns are not posted. Special amount columns are posted
Q7: Explain why the 3-column account form used in an accounts receivable ledger has a debit balance column.
A7: Because they are assets.
Q8: What is the title of the balance amount column of the accounts payable ledger form and why is that title used?
A8: Credit because it is a liability
Q9: List the steps for starting a new page in the accounts payable ledger.
A9: 1:Write the vendor mane on the Vendor line
2: Write the vendor # in the Vendor No. line
3: Write the date on the date column
4: Write the word balance in the Item column
5: Put a check mark in the Post. Ref. column
6: Write the balance in the proper column
Q10: List the steps for posting to the accounts receivable ledger.
A10: 1:Write the date in the Date column
2: Write the journal page # in the Post. Ref. column
3: Write the amount in the proper column
4: Add the amount in the debit/credit column to the previous debit/credit column and write the new amount in the debit/credit balance column
5: Write the customer # in the Post. Ref. column of the journal.
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