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financial statement order
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∙ 11y ago
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Are the accounts in general ledger always arranged in an alphabetical order?
The liability accounts and expense accounts are the only ones arranged alphabetically.
How are accounts in Accounts Payable Ledger arranged?
by the amount owed to each vendor
How are the accounts in the accounts payable ledger arranged?
by the amount owed to each vendor
The accounts in the Accounts Payable Ledger are arranged?
by the amount owed to each vendor
What do you call the subsidiary ledger where individual accounts with customers are included?
asset ledger accounts receivable ledger
What are the two general ledger accounts that may act as control accounts for a subsidiary ledger?
accounts receivable and accounts payable
What are 5 types of subsidiary ledgers?
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
What is guest ledger?
A subsidiary ledger related to the accounts receivable general ledger account used by hotels to record the individual account activity of guests who are still at the hotel. The total of the balances in the city ledger plus the total of the balances in the guest ledger should equal the balance in the accounts receivable general ledger account.
When The AP ledger requires a subsidiary ledger?
A control account is an account found in the general ledger such as accounts receivable,Accounts Payable,inventory etc. The accounts are a summation of entries made in the subsidiary ledgers and are.When using a General Ledger, accounts such as Accounts Payable or Accounts Receivable are much easier to work with in the General Ledger if they have a "single" sum of all accounts, in other words.
What type of ledger is an accounts payable ledger?
Liability
Invoices should be coded for distribution in the General Ledger by referring to the?
chart of accounts
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.
