A General Ledger Account That Is Supported by a Subsidiary

question 192

Short Answer

A general ledger account that is supported by a subsidiary ledger is called a(n)__________.

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Definitions:

Net Income

The amount of money a company earns after deducting all its expenses, taxes, and costs from its total revenue.

Capital Balances

The amount of money that owners have invested in a company plus any retained earnings or minus any losses.

Net Income

Net Income is the profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Profit And Loss Ratio

An agreed upon ratio used to divide earnings or losses of a partnership.