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How does the voucher register eliminate the purchases journal and the subsidiary accounts payable ledger?
Because voucher register has all the necessary records that found in the purchases journal and subsidiary accounts.
When are posting from the purchases journal to the subsidiary ledger made?
daily
What are the Journal entries to record the sale of a subsidiary?
To record the sale of a subsidiary, you would typically make the following journal entries: Debit Cash (or Accounts Receivable) for the amount received from the sale. Debit Accumulated Loss on Sale of Subsidiary (if applicable) to reflect any loss incurred. Credit Investment in Subsidiary for the carrying amount of the subsidiary's net assets. Credit Gain on Sale of Subsidiary (if applicable) for any gain realized from the sale. These entries ensure that the financial statements accurately reflect the transaction's impact on the company’s financial position.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
What is subsidiary sales journal?
A subsidiary sales journal is a specialized accounting record used to track individual sales transactions for a business. It typically details each sale's date, customer information, invoice number, and amount, providing a comprehensive overview of sales activities. This journal helps businesses maintain accurate sales records and facilitates the reconciliation of accounts receivable. Ultimately, it supports financial reporting and helps in managing customer relationships.
What is subsidiary journal?
Its meeting half way
In what journal should you list a telephone expense?
This could be one of two Journals, for the most part, a General Journal is where the entry goes, however, many companies choose to use subsidiary journals in order to keep accounts more organized and may set up a Subsidiary Expense Journal, in which case the telephone expense would be listed in that subsidiary journal along with all other expenses and the General Journal would only show a total for all expense accounts while the subsidiary journal would break each expense account down into more detail.So either the General Journal or a Subsidiary Expense Journal (depending on the company)
Which subsidiary journal is used to record the inventory at the end of the year?
The subsidiary journal used to record inventory at the end of the year is the Inventory Adjustment journal. This journal is used to update the inventory records to reflect the actual quantity and value of inventory at the year-end.
How does the voucher register eliminate the purchases journal and the subsidiary accounts payable ledger?
Because voucher register has all the necessary records that found in the purchases journal and subsidiary accounts.
When are posting from the purchases journal to the subsidiary ledger made?
daily
When are postings from the purchase journal to the subsidiary ledgers made?
daily
When are posting from the purchase journal to the subsidiary ledger made?
daily
What are the Journal entries for a sale of subsidiary?
There are several important journal entries for the sale of a subsidiary. These include: Fixed assets, current assets, current liability, deferred tax liability, and goodwill.
What are the Journal entries to record the sale of a subsidiary?
To record the sale of a subsidiary, you would typically make the following journal entries: Debit Cash (or Accounts Receivable) for the amount received from the sale. Debit Accumulated Loss on Sale of Subsidiary (if applicable) to reflect any loss incurred. Credit Investment in Subsidiary for the carrying amount of the subsidiary's net assets. Credit Gain on Sale of Subsidiary (if applicable) for any gain realized from the sale. These entries ensure that the financial statements accurately reflect the transaction's impact on the company’s financial position.
Who is the publisher of Wall Street Journal?
The publisher of the Wall Street Journal is Dow Jones & Company, a subsidiary of News Corp.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
What is subsidiary sales journal?
A subsidiary sales journal is a specialized accounting record used to track individual sales transactions for a business. It typically details each sale's date, customer information, invoice number, and amount, providing a comprehensive overview of sales activities. This journal helps businesses maintain accurate sales records and facilitates the reconciliation of accounts receivable. Ultimately, it supports financial reporting and helps in managing customer relationships.
