Accounting 4.01 Flashcards

Front

Ledger

Back

A group of accounts

Front

General ledger

Back

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

Front

Account number

Back

The number assigned to the account

Front

File maintenance

Back

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

Front

Opening an account

Back

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

Front

Posting

Back

Transferring information from a journal entry to a ledger account

Front

Correcting entry

Back

An entry made to correct an error that is discovered after posting is completed

Front

Proving cash

Back

Determining that the amount of available cash agrees with the balance of the cash account