Acct. Chapter 11 Test (MASTER)

A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.

• Account Payable Ledger
• Accounts Receivable Ledger
• Controlling Account
• Schedule of Accounts Payable
• Schedule of Accounts Receivable

A ledger that is summarized in a single general ledger account.

• Subsidiary Ledger
• Account Payable Ledger
• Accounts Receivable Ledger
• Controlling Account
• Schedule of Accounts Payable

A subsidiary ledger containing only accounts for charge customers.

• Accounts Receivable Ledger
• Account Payable Ledger
• Controlling Account
• Schedule of Accounts Payable
• Schedule of Accounts Receivable

An account in a general ledger that summarizes all accounts in a subsidiary ledger.

• Controlling Account
• Account Payable Ledger
• Accounts Receivable Ledger
• Schedule of Accounts Payable
• Schedule of Accounts Receivable

A listing of vendor accounts, account balances, and total amounts due for all vendors.

• Schedule of Accounts Payable
• Account Payable Ledger
• Accounts Receivable Ledger
• Controlling Account
• Schedule of Accounts Receivable

A listing of customer accounts, account balances, and total amount due from all customer.

• Schedule of Accounts Receivable
• Account Payable Ledger
• Accounts Receivable Ledger
• Controlling Account
• Schedule of Accounts Payable

When using an accounts receivable ledger, the total amount due from all customers is summarized in a single general ledger account.

• True
• False

A change in the balance of a vendor account also changes the balance of the controlling account, Accounts Payable.

• True
• False

A schedule of accounts payable is prepared before all entries in a journal are posted.

• True
• False

Each amount in a sales journal's Accounts Receivable Debit column is posted as a credit to the customer account in the accounts receivable ledger.

• True
• False