Need solution of this general accounting problem In AccountingA subsidiary ledger_i) Replaces the general ledgerii) Contains only summary entriesiii) Provides detailed records supporting a control accountiv) Is optional in all cases

Explanation of Subsidiary Ledger: A subsidiary ledger is a detailed set of accounts that support and…

Answered: In Accounting A subsidiary ledger_ i)…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 5E: Post the following entry to the general ledger and the subsidiary ledger.

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Title Accounts Receivable would appear in an REA diagram as an example of which kind of entity? a.... Description Accounts Receivable would appear in an REA diagram as an example of which kind of</o:p> entity?</o:p> a. resource</o:p> b. event</o:p> c. agent</o:p> d. none of the above</o:p> </o:p>
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[Based on Appendix C] Explain the difference between the general ledger and a subsidiary ledger.
Reconciliations of the General Ledger Control Accounts to the Subsidiary Ledgers are an example of A. Data entry controls B. Output controls C. Logical access controls D. Segregation of duties
9. Consider Special Reports. What type involves a "different basis of accounting"? a. Agreed-upon-procedures. b. Compliance Report. c. Special Purpose Framework. d. Specified Elements, Accounts.
Which of the following is often called a compensating control?a. transaction authorizationb. supervisionc. accounting recordsd. independent verification
Accounting information systems have five generic elements . Which of the following pairs includes examples of two different elements within the context of the acquisition /payment process ? Select one : a. All of these b. Journal entry that debits inventory and credits cash O c. Separation of duties and a blind copy of the receiving report O d. Purchase requisition and schedule of accounts payable
A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is the a. Controlling account. b. Accounts payable ledger. c. Accounts receivable ledger. d. General ledger. e. Special journal.
Which special journals also require an entry to a subsidiary ledger?
The financial data on the financial reports is built or generated on the base of A.Single entry accounting system B.Manual dual data system C.Double entry system D.Excel spread sheet data entry system
Which item below isnotconsidered a major input to the general ledger and reporting system? adjusting entriesfinancing and investing activitiessummary entries from the major subsystemsreports from manager

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In Accounting A subsidiary ledger_ i) Replaces the general ledger ii) Contains only summary entries iii) Provides detailed records supporting a control account iv) Is optional in all cases