Subsidiary Ledger - Yu Suzuki Company

Related BrainMass Solutions

• This addresses practice exercises for fraud/internal control

  Yu Suzuki Company has a balance in its Accounts Receivable control account of $11,000 on January 1, 2012. The subsidiary ledger contains three accounts: Smith Company, balance $4,000; Green Company, balance $2,500; and Koyan Company.

• What is the purpose of subsidiary ledgers?

  These two general ledger accounts tend to have the most activity of any account, other than cash accounts. Without a detailed ledger, how would the company know exactly how much each customer owes, or how much each vendor is due?

• Kienholz Company: Balances in Account Receivables

  The balances that appear in the accounts receivable subsidiary ledger and the accounts receivable balance that appears in the general ledger at the end of the month $5000 (Net) is reconciled by preparing all subsidiary ledger A/R accounts and A/R control

• Responsibilities of an Accounting Clerk

  What the company owes to Company A should be entered into the Accounts Payable ledger under Company A's subsidiary ledger and NOT in Company B, for example.

• What is the purpose of subsidiary ledgers? What are the possible ramifications of not using subsidiary ledgers?

  In fact the subsidiary ledger frees the General ledger from keeping updated information of thousand of individual accounts. 3 Subsidiary ledger helps to locate errors in individual accounts.

• Controlling accounts and subsidiary ledgers

  person may not be allowed to deal with general ledger and subsidiary ledger.

• Using a Subsidiary Ledger for Accounts Recievable

  211191 Using a Subsidiary Ledger for Accounts Recievable Describe how accounts receivable arise and how they accounted for, including the use of a subsidiary ledger and an allowance account.

• Ehlert & Ramos: Identify special journals for manual system. What subsidiary accounts

  This subsidiary ledger is known as the creditors' ledger.

• Accounts Receivable Subsidary Ledger

  Each customer has an account created in the subsidiary ledger and on daily basis, postings are made in the subsidiary ledger and consolidated entry is posted in the general ledger.