1. Chapter 11
Review Game

2. Amounts recorded in general amount columns of a cash receipts journal are posted individually to the general ledger account named in the Account Title column.
TRUE
FALSE
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3. The account form for a vendor has a debit balance column because accounts payable is a liability and liabilities have normal debit balances.
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FALSE
false 3

4. The amount of money a business has to spend on accounting determines the number of ledgers used in an accounting system.
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false 4

5. A general ledger sorts and summarizes all information affecting income statement and balance sheet accounts
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6. Accounts Payable is a single general ledger account that summarizes the total amount owed to all vendors.
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FALSE
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7. When using an Accounts Receivable ledger, the total amount due from all customers is summarized in a single general ledger account.
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FALSE
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8. An error in posting may cause income to be understated or overstated on the income statement.
TRUE
FALSE
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9. An account in a general ledger that summarizes all accounts in a subsidiary ledger is a controlling account.
TRUE
FALSE
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10. The balance of the controlling account Accounts Payable equals the total of all vendor account balances in the accounts payable ledger.
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11. Daily general ledger account balances are necessary for a business.
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12. The number of transactions determines how often to post to the general ledger.
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FALSE
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13. At the end of the week, the cash payments journal’s Accounts Payable Credit column total is posted to the controlling account.
TRUE
FALSE
false 13

14. Each entry in the Accounts Payable columns of a cash payments journal affects the vendor named in the Account Title.
TRUE
FALSE
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15. A vendor account is opened by writing the vendor name and vendor number on the heading of the ledger account.
TRUE
FALSE
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16. When the balance of a vendor account in the accounts payable ledger is changed, the balance of the controlling account is unaffected.
TRUE
FALSE
false 16

17. Journal entries are sorted and summarized by transferring information to
Accounts Payable Ledger Accounts
Accounts Receivable Ledger
Ledger Accounts
All of these 10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

18. An account in a general ledger that summarizes all accounts in a subsidiary ledger
An expense account
A controlling account
A capital account
None of these 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

19. Has been posted Will be posted later Is not posted None of these
A check mark in parentheses below the General Debit Column of a journal indicates that the journal entry
Has been posted
Will be posted later
Is not posted
None of these 10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

20. When a credit is posted to the accounts payable ledger,
The previous balance is added to the new amount posted in the Credit Column
The source doc. And the page number of the journal are written in the Post Ref. column of the account
The credit amount is written in the debit column of the account
Balance is written in the Item column 9 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

21. The total of the schedule of accounts receivable should equal
The accounts receivable account balance in the general ledger
The cash account
The debit and credit proof
None of these 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

22. Schedule of A/R Schedule of A/P Trial Balance Cash Proof
The listing of vendor accounts, account balances, and total amount due to all vendors is a
Schedule of A/R
Schedule of A/P
Trial Balance
Cash Proof 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19