XACC 280 Week 4
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XACC 280 Week 4
Appendix N
CheckPoint: Subsidiary Ledgers and Special Journals
Explain in 250 to 300 words, your answers to the following:
o What are the advantages of the four different special journals? When would you use each
type?
o What is a subsidiary ledger and what purpose does it serve?
o What is a control account and what purpose does it serve?
o Which two general ledger accounts may act as control accounts for a subsidiary ledger?
o What are the advantages of using subsidiary ledgers?
Assignment: Preparing a Financial Statement Worksheet
Complete E4-1 on pp. 176177 of Financial Accounting.
Use the template in Appendix E to complete the 10-column worksheet.
Post the completed worksheet as an attachment.
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