answersLogoWhite

0

A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

What are the types of Control Account?

sales control account purchases control account


What are the different type of control account?

sales control account purchases control account


There are two types of control account what are they?

sales ledger control account and purnchase ledger control account


Format for Debtors control account and creditors control account?

debtors


Which component of Windows 7 prompt users for permission or credentials?

It is called User Account Control.


Define wages control account?

Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.


What is a subsidiary account?

A subsidiary account is an account that is found in the subsidiary ledger. It is used to summarize the control account.


What does computer term UAC stand for?

UAC stand for User Account Control. It is located in a lot of online accounts, and helps you control your own account. You can also find it in Windows 7.


Is it sales ledger control account and debtors control account are same?

Yes, the sales ledger control account and the debtors control account are essentially the same. Both terms refer to an account that summarizes all transactions related to credit sales and outstanding amounts owed by customers. This account serves to reconcile the total receivables recorded in the sales ledger with the general ledger, ensuring accuracy in financial reporting.


What is opening balance control account?

we should entry the opening balance to account for total balance ,That adjustment is opening balance control


What happens if you override the User Account Control?

If you override the User Account Control it allows an application to be run even if the you do not have the required administrative privileges.


Who owns the Gmail account?

The owner of a Gmail account is the individual who created the account and has control over its use and settings.

Trending Questions
What electronically carries the balance of the employee's net pay? What are the condamental of accounting principles? Specialized Accounting Fields? What are the funtion's of accounting? What does LE mean in accounting? How much does an employer match in payroll taxes? What dos the IRS stand for? Is American Clearing House a scam company? What process is illustrated. Rent. (From Latin reddita meaning things that are returned.) Rente the French original of rent meant income. The English meaning is income from property.? What plans offer two distinct advantages they do not require elaborate cost-accounting systems to calculate awards and they are easily implemented by companies of any size? When merchandise sold is assumed to be in the order in which the expenditures were incured the inventory method is called? Where does commission paid go when trading and profit and loss account? As an investor are basic or diluted earnings per share more important? What percentage of taxes do you have to pay on one thousand dollars in PA? Can you close out account being overdranw and lost checks and ATM card? My name is misspelled on a check. do i sign with my correct spelling or the way the check is made out.? What is costing sheet for garments? How does one calculate the medical billing for a home business? What are the disadvantages in using national income? How many days mus the account be delinquent before the GTCC vendor informs the cardholder that the account may be referred for Salary Offset?