{"id":9520,"date":"2021-10-19T09:40:15","date_gmt":"2021-10-19T09:40:15","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/question-1-a-subsidiary-ledger-is\/"},"modified":"2021-10-19T09:40:15","modified_gmt":"2021-10-19T09:40:15","slug":"question-1-a-subsidiary-ledger-is","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/question-1-a-subsidiary-ledger-is\/","title":{"rendered":"Question 1 a subsidiary ledger is"},"content":{"rendered":"
\n

Question 1\u00a0<\/p>\n

A subsidiary ledger is<\/p>\n

\u00a0<\/p>\n

used in place of the general ledger if the general ledger is destroyed or stolen.\u00a0<\/p>\n

a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger.\u00a0<\/p>\n

used to post excess transactions if a general ledger account becomes full during an accounting period.\u00a0<\/p>\n

a group of accounts used by branches and subsidiaries of a corporate business.<\/p>\n

\u00a0<\/p>\n

Question 2\u00a0<\/p>\n

Evidence that the monthly posting of the sales journal total has been accomplished is indicated by<\/p>\n

\u00a0<\/p>\n

inspecting the postings in the accounts payable subsidiary ledger.\u00a0<\/p>\n

the general ledger account numbers under the double-lined total.\u00a0<\/p>\n

a signature of the accountant doing the posting.\u00a0<\/p>\n

a date under the double-line total.<\/p>\n

\u00a0<\/p>\n

Question 3\u00a0<\/p>\n

The entries recorded in the Other Accounts column of a cash payments journal<\/p>\n

\u00a0<\/p>\n

are posted individually to accounts in the general ledger.\u00a0<\/p>\n

are not posted individually but are posted as a column total to the general ledger.\u00a0<\/p>\n

do not require posting.\u00a0<\/p>\n

are posted to the accounts payable subsidiary ledger daily.<\/p>\n

\u00a0<\/p>\n

Question 4\u00a0<\/p>\n

Adjusting entries are recorded<\/p>\n

\u00a0<\/p>\n

in the special journals.\u00a0<\/p>\n

only on the worksheet.\u00a0<\/p>\n

in the general journal.\u00a0<\/p>\n

only in the general ledger.<\/p>\n

\u00a0<\/p>\n

Question 5\u00a0<\/p>\n

If merchandise from a cash sale is returned by a customer for a refund, the sales return is recorded in the<\/p>\n

\u00a0<\/p>\n

cash receipts journal.\u00a0<\/p>\n

general journal.\u00a0<\/p>\n

cash payments journal.\u00a0<\/p>\n

sales journal.<\/p>\n

\u00a0<\/p>\n

Question 6\u00a0<\/p>\n

A subsidiary ledger frees the general ledger from details of<\/p>\n

\u00a0<\/p>\n

the control account.\u00a0<\/p>\n

internal transactions.\u00a0<\/p>\n

individual balances.\u00a0<\/p>\n

external transactions.<\/p>\n

\u00a0<\/p>\n

Question 7\u00a0<\/p>\n

Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the<\/p>\n

\u00a0<\/p>\n

purchases journal.\u00a0<\/p>\n

cash payments journal.\u00a0<\/p>\n

sales journal.\u00a0<\/p>\n

cash receipts journal.<\/p>\n

\u00a0<\/p>\n

Question 8\u00a0<\/p>\n

The use of special journals to record transactions<\/p>\n

\u00a0<\/p>\n

should only be used if the volume of transactions is small\u00a0<\/p>\n

eliminates the need for a general ledger.\u00a0<\/p>\n

eliminates the need for a general journal.\u00a0<\/p>\n

can save time in the posting process.<\/p>\n

\u00a0<\/p>\n

Question 9\u00a0<\/p>\n

If a transaction cannot be recorded in a special journal<\/p>\n

\u00a0<\/p>\n

it is recorded in the general journal.\u00a0<\/p>\n

the company must refuse to enter into the transaction.\u00a0<\/p>\n

it is recorded directly in the accounts in the general ledger.\u00a0<\/p>\n

it is recorded as an adjustment on the work sheet.<\/p>\n

\u00a0<\/p>\n

Question 10\u00a0<\/p>\n

Accounts Receivable and Accounts Payable are examples of<\/p>\n

\u00a0<\/p>\n

both nominal accounts and controlling accounts.\u00a0<\/p>\n

nominal accounts.\u00a0<\/p>\n

subsidiary ledger accounts.\u00a0<\/p>\n

controlling accounts.<\/p>\n

\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Question 1\u00a0 A subsidiary ledger is \u00a0 used in place of the general ledger if the general ledger is destroyed or stolen.\u00a0 a group of accounts with a common characteristic that provides detailed information about a control account in the general ledger.\u00a0 used to post excess transactions if a general ledger account becomes full during […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-9520","post","type-post","status-publish","format-standard","hentry","category-homework-help"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/9520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=9520"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/9520\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=9520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=9520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=9520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}