Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger. Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another. To explain: The transactions with the help of memo.

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Answer 1

Question

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

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Answer 2

Question

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

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Answer 3

Question

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

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Answer 4

Question

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

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Answer 5

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

Answer 6

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

Answer 7

Chapter 7, Problem 7.2E

To determine

Subsidiary ledger: This is a ledger in which individual balance of every account is recorded. This is an expansion of the general ledger. The subsidiary ledger records the individual balances and hence there is no need to record the individual balances in the general ledger. This is a kind of the secondary ledger.

Memo: Memo is a note given in short, in which a brief explanation of the given topic is provided. It is given in writing and is sent from one department to another.

To explain: The transactions with the help of memo.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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