1) An entry to record the payment to a vendor was correctly recorded and posted to...
1) An entry to record the payment to a vendor was correctly recorded and posted to the general ledger but was not posted to the subsidiary ledger. This error will cause:
| A) |
net income to be overstated. |
|
| B) |
the vendor account total in the subsidiary to be less than control total. |
|
| C) |
the accounts payable control account to not agree with the subsidiary ledger. |
|
| D) |
the accounts receivable control account to not agree with the subsidiary ledger. |
2) The controlling account is found in the subsidiary ledger for all accounts payable
A)True
B) False
Homework Answers
1) c. the accounts payable control account to not agree with the subsidiary ledger
2) a. True
An account in a general ledger that summarizes all accounts in a subsidiary ledger is a controlling account
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1) An entry to record the payment to a vendor was correctly
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question 4
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Please help.
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