Which of the following is found in the private ledger?
Answer Details
The private ledger, also known as the subsidiary ledger, contains detailed information on individual accounts that make up the general ledger. It is used to support and provide more detailed information for the general ledger. Accounts found in the private ledger include accounts receivable, accounts payable, inventory, and other accounts that require more detailed tracking.
Of the options given, only "drawings account" can be found in the private ledger. The drawings account is a personal account that records the amount of money withdrawn by the owner(s) of the business for personal use. This account is part of the owner's equity section of the general ledger and is maintained in the private ledger. Rent account, sales account, and bank account are typically found in the general ledger.