General Journal, Ledger, Trial Balance

A blank in the Post. Ref. column of the journal indicates that posting for that line still needs to be completed.  

• True
• False

Recording the posting reference is always the last step in the posting procedure.  

• True
• False

Whenever the credits in an account exceed the debits, the balance is a credit.

• True
• False

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

• general ledger
• file maintenance
• opening an account
• proving cash

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

• double entry accounting
• journalizing
• posting 
• transaction entry

The number assigned to an account is called

• account title
• chart of accounts
• asset
• account number

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

• balance sheet ledger
• income statement ledger
• general ledger
• special items ledger

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

• posting to a general ledger
• recording transactions
• opening an account
• maintaining your business files

This is a form recording transactions in chronological order.

• journal
• ledger
• income statement
• balance sheet

You are recording info in the ledger.  You are posting a debit to an account that already has a debit balance.  What do you do?

• add
• subtract
• just move the number