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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 is ledger folio charges in banking?
ledger folio charges
What you meant by Self balancing system?
when separate ledgers are maintained for trade debtors and trade creditors ,the debit and credit aspect of certain transactions will note appear in the same ledger Eg: in case of credit sales ,the credit aspect (Sales account) will appear in general ledger whereas the debit aspect (personal account of debtor)will appear in debtors ledger .Take another Eg.like cash discount allowed by a creditor .The credit aspect (personal account of the creditor )will appear in creditors ledger .Thus no ledger is self balancing and it is not possible to prepare a separate trial balance for each ledger .Hence in ,in order to make each ledger self -balancing it is necessary that the corresponding debit and credit aspects are fully "adjustment accounts " in each ledger . the adjustment account helps in completing the double entry in each ledger and making it self balancing . The adjustment account opens in various ledgers are; 1 ) general ledger adjustment account(in debtors ledger) 2 ) general ledger adjustment account(in creditors ledger) 3 ) debtors ledger adjustment account (in general ledger) 4 ) creditors ledger adjustment account (in general ledger)
What is the trail balance?
If you are referring to a Trial Balance in Accounting, the Trial Balance is a list of nominal ledger (general ledger) accounts contained in the Ledger of a Business.
What is Self-Balancing system in accounting?
Under the self-balancing system, it is possible to construct a complete trial balance from each ledger, debtors ledger, creditors ledger
What is a spreadsheet and what does it look like?
It is like a ledger.
What does heath ledger look like?
Type it in on Google.
What does the drummer of Skillet look like?
Look at the related links for pictures of Jen Ledger, the drummer of Skillet
What is difference between Nominal Ledger general ledger?
General ledger is just another name given to nominal ledger. Nominal ledger is a ledger that maintains impersonal accounts like sale , purchase, capital etc.
What does a high C look like in music writing?
in treble clef, a high C is on the second ledger line above the staff.
Does Heath Ledger like milk and cookies?
Heath Ledger is dead. He died after playing "The Joker" in The Dark Knight.
What common object is a spreadsheet most like?
ledger
What is difference between Journal and Ledger?
A journal records individual transactions in chronological order, while a ledger is a summary of all transactions grouped by accounts. The journal is the first step in the accounting process, whereas the ledger organizes and classifies the information from the journal. In essence, the journal is like a diary, and the ledger is like a filing cabinet.
Why is ledger called the king of all books?
Because ledger has records of all books. No other books keeps so much details in itself. Ledger alone is sufficient to provide actual status of a business. Therefore, Ledger is king of all books. Moreover, all other books function for Ledger like Ministers of a King.
Where could one find purchase ledger jobs?
One can find ledger jobs from websites like Indeed, Kijiji, Craigslist and many more. One can also find ledger jobs by visiting an employment center where they will help one find and apply to all available ledger jobs.
What are 5 types of subsidiary ledgers?
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
Does Heath Ledger appear in a fuel video?
not sure. looks like him
