0
What else can I help you with?
The principal ledger that contains all the balance sheet and income statement accounts is the general ledger?
general ledger
Which statements are prepared from the general ledger with no changes to the account balance?
balance sheet
What is the primary ledger containing all the balance sheet and income statement accounts is the?
General Ledger
What does a balance sheet proves?
the debits and credits equal in general ledger
Does the balance sheet proves that the debits and credit equal in the general ledger?
yes
Does an accounts payable ledger contain all of the balance sheet and income statements accounts?
No, the accounts payable ledger only contains information related to supplier accounts. The balance sheet and income statement accounts are contained in the general ledger.
Where does accounts payable fall in accounting balance sheet general ledger chart of accounts?
Accounts payable is liability and fall under liability side of balance sheet.
Where will you put mortgage payable on a general ledger?
credit mortgage payable in the liability side of the balance sheet
What is a listing of all th balance sheet and income related accounts?
The chart of accounts or general ledger
Balance sheet is?
A balance sheet is a ledger that records the checks and balances of all transactions.
How you want to prepare work sheet you have value but you cannot understand how you start?
The financial work sheet consist of 3 financial statements. Trial Balance, Income Statement, and Balance Sheet. To begin you must have your General Ledger. Begin by listing the accounts starting with Assets, Liabilities, Owners Equity, Income (revenue) and Expense. By taking the balances out of the General Ledger add them to the appropriate debit or credit column. Trial Balance will be your first financial statement. Both sides debit and credit should balance. Make sure all Journal entries have been posted to the general ledger.
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
