Acct.CH.7.Posting.

Front

How many ledger accounts will you have?

Back

1 for each account

Front

Is posting journals to the ledger important because this is the 1st place we see all account actions and balances together in one spot?

Back

True

Front

Is posting the process of taking journal entries and transferring that information to each ledger account?

Back

True

Front

The "description" column on the ledgers is used to record information about the journal entry for that account- for instance when crediting Cash- the description in the ledger would read "Check 99". True or False?

Back

True

Front

The "PR" on the ledgers is for the

Back

journal page #

Front

The middle DR and CR columns are used for

Back

journal entries

Front

Whether an account has debit or credit normal balance that balance side will never change.

Back

True

Front

If you debit a debit normal balance account you will

Back

increase the account

Front

If you credit a debit normal balance account you will

Back

decrease the account

Front

Account numbers from the ledgers are used to

Back

organize all accounts and the PR back to the journals