XACC 280 Week 4 Assignment Subsidiary Ledgers and Special Journals

Question 1

XACC 280 Week 4 Assignment Subsidiary Ledgers and Special Journals

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Explain in 300 to 500 words, your answers to the following:

· What are the advantages of the four different special journals? When would you use each type?

· What is a subsidiary ledger and what purpose does it serve?

· What is a control account and what purpose does it serve?

· Which two general ledger accounts may act as control accounts for a subsidiary ledger?

. What are the advantages of using subsidiary ledgers?

Answer 1

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