Control account: It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements. Subsidiary Ledger Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are: 1. Accounts Receivable subsidiary ledger. 2. Accounts Payable subsidiary ledger. To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

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Answer 1

Question

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

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Answer 2

Question

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Expert Solution & Answer

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Answer 4

Question

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Expert Solution & Answer

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Answer 5

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Answer 6

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

Answer 7

Chapter J, Problem 11E

(a)

To determine

Control account:

It is a general ledger account which summarizes the entire details about the subsidiary ledger data. The purpose of using control account is that to maintain the general ledger free from many details and provide clean and correct balances to be used in the financial statements.

Subsidiary Ledger

Subsidiary ledger refers to the individual accounts, the summary of which is merged into the control account. It relives the burden on the general ledger and makes the posting easier and quicker. The most common subsidiary ledgers are:

1. Accounts Receivable subsidiary ledger.

2. Accounts Payable subsidiary ledger.

To indicate: the missing posting reference and amount in the control account and missing ending balance in subsidiary ledger.

Answer 8

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Answer 9

(b)

To determine

To indicate: the amount in the control accounts that were dual posted.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. J - Prob. 1Q Ch. J - Prob. 2Q Ch. J - Prob. 3Q Ch. J - Prob. 4Q Ch. J - Prob. 5Q Ch. J - Prob. 6Q Ch. J - Prob. 7Q Ch. J - Prob. 8Q Ch. J - Prob. 9Q Ch. J - Prob. 10Q

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To indicate: the amount in the control accounts that were dual posted.

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