Ch 4 Posting to a General Ledger

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The first digit in the account number 520 means that the account is in the

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expense division of the general ledger

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When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

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doing file maintenance

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The procedure for transferring information from a journal entry to a ledger account is

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posting

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The last step in the posting procedure is to write the

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account number in the Post. Ref. column of the journal

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The second step in the posting procedure is to write the

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journal page number in the Post. Ref. column of the account

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An account number in the Journal's Post. Ref. column shows

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the account to which an amount is posted

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Posting references in a journal are

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none of these

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If posting is interrupted, the accounting personnel know to resume posting

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on the line with a blank Post. Ref. column in the journal

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Determining that the amount of cash agrees with the accounting records is

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proving cash

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If an error requires a correcting entry, the source document describing the correction to be made

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is a memorandum