Ledgers and Journals

What step in the accounting cycle is posting to the ledger?

• 3rd
• 4th
• 5th
• 6th

What is the first thing you do when recording and/or posting an entry into the journal and/or ledger, respectively?

• Write/enter the date in the Date column
• Record the accounts and source document
• Post the source document in the description column
• Write/enter the debt and/or credit amount in the debit and/or credit column

What do you do with the Description column when posting to the ledger?

• Leave it blank, or write the source document number
• Write the other account affected
• Enter the debit and/or credit amount
• Write your name

What do you do with the Post. Ref. column when posting to the ledger?

• Enter the journal letter and page number
• Enter the journal letter and transaction number
• Enter the ledger letter and account number
• Enter the ledger letter and transaction number

What do you do with the Description column when recording in the general journal?

• Write the accounts debited, then the accounts credited, then the source document.
• Write the accounts credited, then the accounts debited.
• Write the source document, then the accounts debited, then accounts credited.
• Write the date, then the source document, then the accounts affected.

How often is the year and month recorded and/or posted in the journal and/or the ledger?

• Once per page
• Once per transaction
• Thirteen times per page
• Three times per transaction

How do you correct an error in a posted entry in the ledger?

• Post a new entry with the correcting debit/credit amount, and write "Correcting Entry" in the Description column.
• Cross out the incorrect information and write the correct information above.
• Post a new entry with the the correct debit/credit.

How do you correct an error in a transaction in the general journal that hasn't been posted?

• Cross out the incorrect information and write the correct information above.
• Post a new entry with the correcting debit/credit balance, and write "Correcting Entry" in the Description column.
• Don't correct it and leave it the way it is.

How do you open an account in the ledger with a zero balance?

• Write the account name and the account number at the top of the ledger account form.
• Cross out the normal balance in the Balance column.
• You don't record it in the general journal.

How do you record a zero balance in an already opened account?

• Write a dash in the normal balance in the Balance column.
• Write the account name and account number at the top of the ledger account form.
• You erase/cross out all transactions.