Homework Answers
| Ans | d. Cost of Goods sold subsidiary ledger |
| Explanation | Subsidiary ledgers are opened for such general ledger accounts which involves high volume of transactions. Firstly, information is recorded in subsidiary ledger of that general ledger and then summary i.e. total of such subsidiary ledger is posted to general ledger control account periodically. For example Accounts Payable ledger involves huge number of transactions like purchases, payments to suppliers etc. These transactions occur frequently. So Accounts Payable Subsidiary ledger is used to record detailed transactions . Similarly accounts receivable subsidiary ledger and inventory subsidiary ledger are prepared commonly. But Cost of Goods sold subsidiary ledger is not a common Cost of Goods sold subsidiary ledger. |
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