A listing of the components of account balances which relieves the general ledger of detail thereby facilitating the preparation of a trial balance is known as: Subsidiary ledger 3. Private ledger Worksheet 4. Register

A listing of the components of account balances which relieves the general ledger of detail thereby facilitating the preparation of a trial balance is known as: Subsidiary ledger 3. Private ledger Worksheet 4. Register

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A listing of the components of account balances which relieves the general ledger of detail thereby facilitating the preparation of a trial balance is known as:

1. Subsidiary ledger 3. Private ledger
2. Worksheet 4. Register

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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