Explain the use of the controlling account Accounts Payable with the accounts payable subsidiary ledger.
Question:
Explain the use of the controlling account Accounts Payable with the accounts payable subsidiary ledger.
Accounts PayableAccounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
The sum of the accounts pay...View the full answer
Answered By
Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
16+ Reviews
28+ Question Solved
Related Book For 
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good
Question Posted:
