Ledger: Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger. To Explain: The difference between the general ledger, and a subsidiary ledger.

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Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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[Based on Appendix C] Explain the difference between the general ledger and a subsidiary ledger.

What is the purpose of a subsidiary ledger?

What are the purpose of subsidiary ledgers?

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Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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Answer 3

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Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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Check out a sample textbook solution

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Answer 4

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Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

Answer 8

Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

Answer 9

Chapter 2, Problem 2.21Q

To determine

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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Ch. 2 - Explain the difference between external events and...Ch. 2 - Each economic event or transaction will have a...Ch. 2 - What is the purpose of a journal? What is the...Ch. 2 - Explain the difference between permanent accounts...Ch. 2 - Describe how debits and credits affect assets,...Ch. 2 - Describe how debits and credits affect temporary...Ch. 2 - What is the first step in the accounting...Ch. 2 - Prob. 2.8Q Ch. 2 - Prob. 2.9Q Ch. 2 - Prob. 2.10Q

Ledger: Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger. To Explain: The difference between the general ledger, and a subsidiary ledger.

Solution Summary: The author explains the difference between the general and subsidiary ledgers.

Ledger:

Ledger is the book, where the debit and credit entries recorded in the journal book are transferred to their relevant accounts. The entire accounts of the company are collectively called the ledger.

To Explain: The difference between the general ledger, and a subsidiary ledger.

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Chapter 2 Solutions