Interested to Buy Any Domain ? << Click Here >> for more details...
Subsidiary ledger and the benefit of making it, explain?
- 1 Answers
- 2664 Views
- I also Faced
- E-Mail Answers
Answer Posted / aqeel raza
Subsidiary ledger is a sub book of general ledger mostly makes for account receivable and account payable having various parities or clients to whom the goods sold and purchase are made on credit.
The subsidiary ledger helps for receiving the amount balance in party’s account as well as giving discounts on sale or purchases which sometime seller or purchaser issues on early payment. The party’s account in subsidiary ledger is increased or decreased in balance by discounts
The subsidiary ledger helps in doing returns of sale or purchase to any party due to defect in goods or any reason and is affected by increase or decrease in balance.
All accounts which have windows or various accounts relating to specific account may be opened by subsidiary ledger account.
The main benefit of subsidiary accounts is to make separate account of any specific account having multiple parties or clients.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Do you use social media to identify prospects?
HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.
how pass journal entry in the month ending for input vat and out put vat
what is the format of salary slip when basic , D.A.H.R.A. ,conveyance allowence , concluded and in deduction part P.F. E.S.I. & P.Tax.
A Lorry driver damaged shed shutter and we deduct 2000/- from his freight amount now what is the head for the Deducted amount?
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
What is the Technology used to carry out trades? Pls Tell me as early as possible.
Tell me do you possess any knowledge about accounting standards?
in trading credit why does goods sent on consignment come?
WHY U HAVE CHOOSE ICWA WHY NOT CA
What is creative accounting?
Mention what does the investment of personal assets by the owner will do?
What is the difference between provision and reverse?
what are the different methods of teaching share and debenture to pre degree students
Tell me what happens to company's “cash account” if it borrows money from the bank by signing a note payable?
