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Chapter Five 7 Words.

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Presentation on theme: "Chapter Five 7 Words."— Presentation transcript:

1 Chapter Five 7 Words

2 Ledger

3 A group of accounts

4 General Ledger

5 A ledger that contains all accounts needed to prepare financial statements

6 Account Number

7 The number assigned to an account

8 File Maintenance

9 The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current

10 Opening an Account

11 Writing an account title and number on the heading of an account

1 2 1. Write the account title. 2. Write the account number. Lesson 5-1, page 99

13 Posting

14 Transferring information from a journal entry to a ledger account

15 Proving Cash

16 Comparing Cash balance with checkbook balance
(they should equal!) (Can be done at any time)

17 Do you know? How to Create a Chart of Accounts?
How to Post from the Journal to the ledger (4 steps) What a post reference number? how to add and subtract in a general ledger? How to prove cash?

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