Presentation on theme: "A _____ shows in one place all the changes in a single account."— Presentation transcript:
1A _____ shows in one place all the changes in a single account. Ledger
2Account numbers may be assigned by 10s so that ____ accounts can be added easily. New
3The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current in accounting personnel are doing ______ maintenance.File
4If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered ____ and ____.110 and 120
5A group of accounts is called a _________. Ledger
6An _____ _____ is written in the post reference column of the General Journal of a transaction to show that posting of the entry is completed.Account Number
7The account number is placed in the post reference column of an account as the last step in the ________ process.Posting
8If the previous account balance and the current entry posted to an account are both debits, the new account balance is a _____.Debit
9The cash account is the first asset account and is numbered ________. 110
10When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number _____.515
11The two steps for opening an account are writing the account title and the ______ ______. Account Number
12The posting should always be recorded in the _____ before recording in the general journal’s post ref. column.Ledger
13The numbers in the Post Ref The numbers in the Post Ref. columns of the ledger and journal serve 3 purposes. They are:An entry in an account can be traced to its source in the journalAn entry in a journal can be traced to where it was postedIf posting is interrupted, you can easily see which entries still need to be posted
14Date Journal Page Number Amount Balance Post Ref. Number Steps for posting are:DateJournal Page NumberAmountBalancePost Ref. Number
15When all posting is completed, the journal’s ____ ____ column is completely filled. Post Ref.
16Asset division of the general ledger The first digit in the account number 120 means that the account is in the ______.Asset division of the general ledger
17The procedure for transferring information from a journal entry to a ledger account is _____. Posting
18The first step in the posting procedure is writing the _____. Date in the ledger
19The last step in the posting procedure is writing the _____. Account number in the General Journal
20An account number in the journal’s Post Ref. column shows The account to which an amount is posted.
21On the line with a blank Post Ref. Column in the journal. If posting is interrupted, how does the accounting personnel know where to resume postingOn the line with a blank Post Ref. Column in the journal.
22When the previous balance of an account is zero and a credit amount is posted to the account, the new balance will be a _____.Credit
23Determining that the amount of cash agrees with the accounting records is ______ _____. Proving Cash