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One type of business expense is an owner withdrawal of equity.When a company receives money as payment for goods sold, it increases its accounts receivable.An employee using a company credit card creates an account payable.Building rent for the month of December that will be paid on December 15th is an example of an accrued liability.
What else can I help you with?
Regarding different types of general ledger accounts does an employee using a company credit card create an accounts payable?
I think so...But don't quote my answer.
General ledger account?
There are several different accounts that are used in the general ledger. Some of these accounts include cash, accounts receivable, inventory, notes payable, accounts payable, and customer deposits.
What are the two general ledger accounts that may act as control accounts for a subsidiary ledger?
accounts receivable and accounts payable
What does General ledger consist of?
A group of accounts.
What could one do with general ledger accounting software?
General ledger accounting software was made to make the job of a general ledger accountant easier. The software allows the user to keep track of the accounts. It also automates the accounts.
Regarding different types of general ledger accounts does an employee using a company credit card create an accounts payable?
I think so...But don't quote my answer.
General ledger account?
There are several different accounts that are used in the general ledger. Some of these accounts include cash, accounts receivable, inventory, notes payable, accounts payable, and customer deposits.
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.
How is subsidiary ledger different to the general ledger?
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
What are the two general ledger accounts that may act as control accounts for a subsidiary ledger?
accounts receivable and accounts payable
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.
The principal ledger that contains all the balance sheet and income statement accounts is the general ledger?
general ledger
The general ledger is a book of?
accounts
What does General ledger consist of?
A group of accounts.
What record that contains all accounts of company?
general ledger, general journal, special ledger, special journal, column balance ledger.
What could one do with general ledger accounting software?
General ledger accounting software was made to make the job of a general ledger accountant easier. The software allows the user to keep track of the accounts. It also automates the accounts.
What is an account in a general ledger that summarizes all accounts in a subsidiary ledger?
Income summary
