SUBSIDIARY LEDGER Definition

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SUBSIDIARY LEDGER is a group of subsidiary accounts the sum of the balances of which is equal to the balance of the related control account in the general ledger.

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DONATED ASSETS are assets received in a voluntary non-reciprocal transfer from another entity such as gifts of capital assets; usually voluntary contributions of resources to a governmental entity by a non-governmental entity.

AUTHORIZED CAPITAL STOCK is the maximum number of shares of common stock that can be issued under a companys Articles of Incorporation. Issued shares are normally less than the number of authorized shares.

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