Accounting: Posting From a Journal to a Ledger Ch 4

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

• expense division of the general ledger

• revenue division of the general ledger

• liability division of the general ledger

• asset division of the general ledger

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

• posting

• journalizing

• doing file maintenance

• none of these

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

• posting

• journalizing

• file maintenance

• none of these

The last step in the posting procedure is to write the

• entry date in the Date column of the account

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

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

• entry amount in the Debit and Credit column of the account

The second step in the posting procedure is to write the

• entry date in the Date column of the account

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

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

• entry amount in the Debit or Credit column of the account

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

• the date of the entry

• that work on that journal page is completed

• the account to which an amount is posted

• none of these

Posting references in a journal are

• the first item recorded when posting

• always placed in an account's Post. Ref. column

• not necessary

• none of these

All corrections for posting errors should be made in a way that leaves no question as to the correct amount

• true

• false

The cash account is the first asset account and is numbered 110

• true

• false

The steps for posting are to write the date, the journal page number, the amount, and the balance.

• true

• false