Indicate whether each of the following accounts would be shown in the general ledger or subsidiary ledger.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, organized by account.

Subsidiary Ledger

A subsidiary ledger is a detailed ledger that contains account-specific information, supporting and connected to the general ledger for a comprehensive accounting system.

Absorb the process involved in chronicling transactions in the general and subsidiary ledgers.
Familiarize oneself with the vital importance and utilization of subsidiary ledgers and control accounts in upholding detailed financial records.

Verified Answer

Thuso LebeloJun 21, 2024

Final Answer :

1. General ledger 4. Subsidiary ledger
2. Subsidiary ledger 5. General ledger
3. General ledger 6. General ledger

Learning Objectives

Absorb the process involved in chronicling transactions in the general and subsidiary ledgers.
Familiarize oneself with the vital importance and utilization of subsidiary ledgers and control accounts in upholding detailed financial records.

Indicate whether each of the following accounts would be shown in the general ledger or subsidiary ledger.

Definitions

Learning Objectives

Learning Objectives

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