A friend is confused about entries to computerized accounting systems. She says, I understand that there are

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A friend is confused about entries to computerized accounting systems. She says, “I understand that there are both subsidiary accounts and control accounts, but why are the effects of individual transactions entered only into the subsidiary accounts? Doesn’t this cause the subsidiary accounts and the control to report different information?” Explain the difference between a general ledger and a subsidiary ledger and the difference in how the information contained in each is used.

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Financial Accounting Information For Decisions

ISBN: 978-0324672701

6th Edition

Authors: Robert w Ingram, Thomas L Albright

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