Final answer:
True, the Salaries Payable Control account has underlying subsidiary ledgers which record individual amounts owed to employees, aiding in record-keeping and financial accuracy.
Step-by-step explanation:
The question is a-true. The Salaries Payable Control account indeed has underlying subsidiary ledgers that detail the amounts owed to individual employees.
When a business records salaries expense, the corresponding credit goes to the Salaries Payable Control account. However, because a company could have many employees, it is not practical to have individual employee details in the general ledger. Instead, businesses maintain subsidiary ledgers for record-keeping efficiency and accuracy. These subsidiary ledgers contain specific information about what is owed to each employee, ensuring that each entry in the control account can be verified against an individual record. This systematized approach facilitates audit trails and financial reporting, as it simplifies the reconciliation process when verifying the accuracy and completeness of payroll expenses and liabilities.