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Can you withdraw ledger balance?
No till the time it get's converted into account balance and usually ledger balance get converted into account balance with in one day
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
To increase the balance in an accounts payable ledger?
To increase the balance in an accounts payable ledger you credit the account.
Where does the sum of customers' unpaid balances that is compared to the general ledger balance comes from?
The sum of customers unpaid balance or balance of account receivables in the General Ledger usually comes from a subsidiary ledger which contains an individual account receivable for each customer, the total of these accounts are summed and placed in one single account in the "general ledger".
Which account represents a debit balance on a ledger account?
assets have debit balances.
Can you withdraw ledger balance?
No till the time it get's converted into account balance and usually ledger balance get converted into account balance with in one day
How is subsidiary ledger different to the general ledger?
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
To increase the balance in an accounts payable ledger?
To increase the balance in an accounts payable ledger you credit the account.
Where does the sum of customers' unpaid balances that is compared to the general ledger balance comes from?
The sum of customers unpaid balance or balance of account receivables in the General Ledger usually comes from a subsidiary ledger which contains an individual account receivable for each customer, the total of these accounts are summed and placed in one single account in the "general ledger".
Which statements are prepared from the general ledger with no changes to the account balance?
balance sheet
How entries are posted from general ledger to trial balance?
Extract of head of account wise debit balance or credit balance from the general ledger has to be posted in the trial balance.
Which account represents a debit balance on a ledger account?
assets have debit balances.
After posting the journal entries to the ledger what is the balance of the cash account?
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
What is sales ledger control account?
Sales control account is a summary of transactions relating to the debtors balance.the debtors ledger account is debited when there is an increase of the debtors balance and credited when there is a reduction of the debtors balance
The general ledger balance in the bank?
The ledger balance is the balance in an account at the end of the last business day. For example, if your ledger balance yesterday was $100, and then two checks you wrote were cashed for $20 each and you made a deposit of $5 today, then the ledger balance at the end of today would be $65. It is what is left in your account once all the debits and credits are processed every evening.
What is trial balace?
A trial balance is a list of all the nominal ledger (general ledger) accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit value balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance...cj pulgar
