ACCOUNTING---POSTING TO THE LEDGER---MARCH 5, 2024

Front

A book of accounts is called a 

Back

ledger

Front

Transferring information form a journal entry to a ledger account is called

Back

posting

Front

The number assigned to an account is called

Back

account number

Front

A ledger that contains all accounts needed to prepare financial statements is called

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general ledger

Front

When you write an account title and number on the heading of an account you are 

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opening an account

Front

Debit on the 

Back

left

Front

Credit on the 

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right

Front

This is a form recording transactions in chronological order.

Back

journal

Front

If a credit is posted to a liability account, what will happen to the previous account balance?

Back

It will be added to the previous account balance to determine the new credit balance.

Front

After a journal entry has been posted, what is filled in the Post Ref. column on the Journal?

Back

the Post Ref. column on the Journal is filled in with the account number