Question and answer
7) Which ledger contains control accounts? A. Accounts receivable subsidiary ledger B. General ledger C. Accounts payable subsidiary ledger D. General revenue and expense ledger
Accounts Receivable and Accounts Payable are examples of both nominal accounts and controlling accounts.
Get an answer
Original conversation
User: 7) Which ledger contains control accounts? A. Accounts receivable subsidiary ledger B. General ledger C. Accounts payable subsidiary ledger D. General revenue and expense ledger

Weegy: Accounts Receivable and Accounts Payable are examples of both nominal accounts and controlling accounts.
OxTornado007|Points 5878|

User: Smith is a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to keep track of the details of Smith’s account? A. Accounts receivable subsidiary ledger B. Accounts receivable control ledger C. General ledger D. Accounts payable subsidiary ledger

Weegy: D. Accounts payable subsidary ledger
cjam_1977|Points 290|

User: ) Under the cash basis of accounting, A. revenue is recognized when services are performed B. expenses are matched with the revenue that is produced C. cash must be received before revenue is recognized D. a promise to pay is sufficient to recognize revenue

User: Under the accrual basis of accounting, A. cash must be received before revenue is recognized B. net income is calculated by matching cash outflows against cash inflows C.events that change a company’s financial statements are recognized in the period they occur rather than in the period in which the cash ispaid or received D. the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles

Weegy: Under the accrual basis of accounting, C. events that change a company's financial statements are recognized in the period they occur rather than in the period in which the cash is paid or received
Expert answered|businesslady|Points 1013|

Question
Asked 10/15/2012 6:44:22 PM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is A. debit Laundry Expense, $2,000; credit Laundry Expense$2,000 B. debit Laundry Expense, $4,500; credit Laundry Supplies Expense, $4,500 C. debit Laundry Supplies, $2,000; credit Laundry Supplies Expense, $2,000 D. debit Laundry ...
Weegy: D. debit Laundry Supplies Expense, $4,500; credit Laundry Supplies, $4,500 User: Greese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,100 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be A. debit Office Supplies Expense, $1,100; credit Office Supplies, $1,100 B. debit Office Supplies, $2,900; credit Office Supplies Expense, $2,900 C. debit Office Supplies Expense, $2,900; credit Office Supplies, $2,900 D. debit Office Supplies, $1,100; credit Office Supplies Expense, $1,100 Weegy: The appropriate adjusting journal entry is: C. debit Office Supplies Expense, $2,900; credit Office Supplies, $2,900 (More)
Question
Expert Answered
Asked 10/15/2012 6:50:53 PM
0 Answers/Comments
25,321,610 questions answered
Popular Conversations
What kind of money is a gold certificate considered to be? A. ...
Weegy: Silver certificates, along with gold certificates, represent a transition between commodity money and fiat ...
5/25/2016 7:59:59 AM| 3 Answers
What opened relations between China and the United States? A. the ...
Weegy: The Sino-Soviet split opened relations between China and the United States. User: What was the first armed ...
5/24/2016 6:37:26 AM| 2 Answers
Which of the following does NOT hinder development for ...
Weegy: debt
5/24/2016 7:42:34 AM| 2 Answers
What is the target of Homeland Security? a. invade personal ...
Weegy: For the first part of the country's history, American foreign policy could be described most accurately as - ...
5/24/2016 7:54:51 AM| 2 Answers
Justine was interested in learning how to play the piano. Before she ...
Weegy: Justine was interested in learning how to play the piano. She has been playing some basic songs, but still gets ...
5/24/2016 12:24:05 PM| 2 Answers
Weegy Stuff
S
Points 606 [Total 606] Ratings 9 Comments 496 Invitations 2 Online
S
Points 593 [Total 593] Ratings 10 Comments 493 Invitations 0 Online
S
Points 535 [Total 535] Ratings 0 Comments 535 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
P
R
Points 272 [Total 12524] Ratings 2 Comments 252 Invitations 0 Offline
S
L
P
P
P
Points 166 [Total 3543] Ratings 0 Comments 166 Invitations 0 Offline
S
Points 38 [Total 107] Ratings 0 Comments 38 Invitations 0 Offline
S
Points 12 [Total 12] Ratings 1 Comments 2 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
L
Points 2 [Total 1756] Ratings 0 Comments 2 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.