Interested to Buy Any Domain ? << Click Here >> for more details...
Subsidiary ledger and the benefit of making it, explain?
- 1 Answers
- 2558 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
ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
all ques. related to accounts?
What are accounting rules called?
What Is Responsibility Accounting?
What's the accounting entry when an Invoice is created in AR?
What is the basic accounting equation?
Mention what is bank reconciliation?
What are the difference between Debit Memorandum and Credit Memorandum?
PRELIMINARY EXPENSES INCURRED IN THE YEAR OCTOBER 2012 MONTH 5LAKS WHICH ACCOUNTED IN ASSET SIDE AS ''PRELIMINARY EXPENSES''... IN YEAR END MARCH 2013, IN 5LAKS HOW MUCH AMOUNT SHOULD TAKE FOR PRELIMINARY EXPENSES WRITTEN OFF..?
A Lorry driver damaged shed shutter and we deduct 2000/- from his freight amount now what is the head for the Deducted amount?
What is the limitaion of the Trial Balance?!
What are time sheets? How are they maintained?
What do we mean by Redemption of shares and debentures?
Hello sir, i am assistent executive in partnership firm.i learn't tds return, sales tax return, service tax return and all accounting entry,reconciliation with customer & supplier.BRS. please guide me for more knowledgeble sectore in account. hense i reach become a good position in account sectore.
What is the important of computerized accounting to manual?
