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The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
What are controlling accounts and subsidiary ledgers?
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 used to check the accuracy of those entries.
What are two of the four accounts in the general ledger which need to be updated with adjusting entries?
cash and rent expense
What of the two of the four accounts in the general ledger which need to be updated with adjusting entries?
cash and rent expense
When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?
2
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
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.
When does the AP 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 are controlling accounts and subsidiary ledgers?
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 used to check the accuracy of those entries.
What are two of the four accounts in the general ledger which need to be updated with adjusting entries?
cash and rent expense
What of the two of the four accounts in the general ledger which need to be updated with adjusting entries?
cash and rent expense
Closing entries are necessary to a business so?
the accounts in the general ledger are updated and ready for the next fiscal period.
How do you journalize adjusting entry license future year?
Journal Entries recorded to update general ledger accounts at the end of a fiscal period are called adjusting entries.
Why ledger is called king of all books of account?
Ledger is called the king of all books of accounts because all entries from the books of original entry must be posted to the various accounts in the ledger. It should be noted that journal contains a chronological record while ledger contains a classified record of all transactions
When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?
2
After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?
2
The procedure of transferring journal entries to the ledger accounts is called?
The whole process of transferring entries from journal to ledger is called posting process.
