Asked by Manuel De Sousa on Jun 26, 2024

verifed

Verified

To prove the subsidiary ledger agrees with the Accounts Payable controlling account balance, complete a:

A) trial balance.
B) schedule of accounts payable.
C) purchase order.
D) schedule of accounts receivable.

Subsidiary Ledger

A detailed ledger that contains the individual accounts needed to support a specific general ledger account.

Accounts Payable

Liabilities of a business that are obligations to pay creditors for goods and services purchased on credit.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

  • Explain the role and importance of subsidiary ledgers and control accounts in accounting.
verifed

Verified Answer

AV
Agustin VelascoJun 28, 2024
Final Answer :
B
Explanation :
A schedule of accounts payable is a detailed list of all the amounts owed to suppliers or vendors, which should match the total in the Accounts Payable controlling account in the general ledger, thus proving the subsidiary ledger agrees with the controlling account balance.