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