What is a general ledger account? - AccountingTools
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The ending balances in these accounts are then aggregated and reported in the balance sheet and income statement. A separate general ledger ... AccountingTools CPECourses CPECourses CPELogIn HowtoTakeaCourse StateCPERequirements Books CollegeTextbooks AccountingBooks FinanceBooks OperationsBooks CPAExamStudyGuides Articles Articles TopicsIndex SiteArchive Podcast AccountingBestPractices PodcastIndex PodcastSummary Dictionary FAQs About About Contact EnvironmentalCommitment Home AccountingTools CPECourses/CPECoursesCPELogInHowtoTakeaCourseStateCPERequirements Books/CollegeTextbooksAccountingBooksFinanceBooksOperationsBooksCPAExamStudyGuides Articles/ArticlesTopicsIndexSiteArchive Podcast/AccountingBestPracticesPodcastIndexPodcastSummary Dictionary/ FAQs/ About/AboutContactEnvironmentalCommitment Home/ AccountingTools AccountingCPECourses&Books Articles AccountingTools CPECourses/CPECoursesCPELogInHowtoTakeaCourseStateCPERequirements Books/CollegeTextbooksAccountingBooksFinanceBooksOperationsBooksCPAExamStudyGuides Articles/ArticlesTopicsIndexSiteArchive Podcast/AccountingBestPracticesPodcastIndexPodcastSummary Dictionary/ FAQs/ About/AboutContactEnvironmentalCommitment Home/ RelatedCoursesBookkeeperEducationBundleBookkeepingGuidebook Ageneralledgeraccountisarecordinwhichisrecordedaspecifictypeoftransaction.Thesetransactionscanrelatetoassets,liabilities,equity,sales,expenses,gains,orlosses-inessence,allofthetransactionsthatareaggregatedintothebalancesheetandincomestatement.Theendingbalancesintheseaccountsarethenaggregatedandreportedinthebalancesheetandincomestatement.Aseparategeneralledgeraccountissetasideforeachspecifictypeoftransaction.Forexample,withinthegeneralareaofinventoryassets,theremaybeseparategeneralledgeraccountsforrawmaterialsinventory,work-in-processinventory,finishedgoodsinventory,andmerchandise(purchased)inventory.ChartofAccountsAcompletelistofallgeneralledgeraccountsthatacompanyusesiscontainedwithinthechartofaccounts,whichisasimplelistingofaccountnumbersandaccountdescriptions.Thechartisusuallyorganizedtoshowallbalancesheetaccounts,followedbyallincomestatementaccounts.Examplesofothergeneralledgeraccountsthatarecommonlyusedarenotedbelow. BalancesheetaccountsCashAccountsreceivableMarketablesecuritiesFixedassetsAccumulateddepreciationAccountspayableAccruedliabilitiesSalestaxespayableDebtCommonstockRetainedearningsIncomestatementaccountsSalesCostofgoodssoldCompensationexpensePayrolltaxexpenseFringebenefitsexpenseRentexpenseUtilitiesexpenseAdvertisingexpenseTravelandentertainmentexpenseBusinessinsuranceexpenseOfficesuppliesexpenseInterestexpenseGain/lossonsaleofassetsAfewgeneralledgeraccountsaredesignatedascontrolaccounts.Theseaccountsonlycontainsummarybalancesthathavebeenpostedfromsubsidiaryledgers.Thisisdoneinordertominimizethetransactionvolumeclutteringthegeneralledger.Theaccountsreceivableandaccountspayableaccountsarethemostlikelytobecontrolaccounts. Reloadfeaturedefinition Residualincomedefinition CPECourses/CPECoursesCPELogInHowtoTakeaCourseStateCPERequirements Books/CollegeTextbooksAccountingBooksFinanceBooksOperationsBooksCPAExamStudyGuides Articles/ArticlesTopicsIndexSiteArchive Podcast/AccountingBestPracticesPodcastIndexPodcastSummary Dictionary/ FAQs/ About/AboutContactEnvironmentalCommitment Home/ AccountingTools CollegeTextbooksAccountingBooksFinanceBooksOperationsBooksCPAExamStudyGuides Sendusyoure-mailaddresstoreceivemonthlycoursediscounts * Thankyou! Copyright2022
延伸文章資訊
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Balance Sheet Example
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The general ledger is organized so that the accounts will appear in the following order: Balance ...
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