General Ledger $400 What is the basic accounting equation?
General Ledger $500 (1) Write the account name at the top of the ledger account form. (2) Write the account number on the ledger account form. (3) Enter the complete date (year, month, and day) in the date column. (4) Write the word “Balance” in the Description column. (5) Place a check mark ( ) in the Posting Reference column to show the amount entered on this line is not being posted from a journal. (6) Enter the balance in the appropriate balance column of the ledger account form. Usually asset, expense and owner’s withdrawals accounts have debit balances. Liability, owner’s capital, and revenue accounts have credit balances.
General Ledger $500 What are the six steps to open an account with a balance?
The Posting Process $100 Fourth Step in the accounting cycle.
The Posting Process $100 What is the posting process?
The Posting Process $200 Account numbers that start with 1.
The Posting Process $200 What number starts the numbering of asset accounts?
The Posting Process $300 A line across the center of the column.
The Posting Process $300 What is the correct procedure to show a zero balance in a ledger account?
The Posting Process $400 Preparing a Trial Balance step.
The Posting Process $400 What is the fifth step in the accounting cycle?
The Posting Process $500 Posting Organizes business transaction details into the proper accounts.
The Posting Process $500 What is the importance of Posting?
Preparing Trial Balance $100 The Fifth Step in the Accounting Cycle.
Preparing Trial Balance $100 What is the Trial Balance?
Preparing Trial Balance $200 Adding all the debit balances, then adding all the credit balances, and finally comparing the two totals.
Preparing Trial Balance $200 What are the steps to proving the ledger?