ACCT CH 4 VOCAB

ledger

• A group of accounts.
• A ledger that contains all accounts needed to prepare financial statements.
• Writing an account title and number on the heading of an account.

general ledger

• A ledger that contains all accounts needed to prepare financial statements.
• A group of accounts.
• Transferring information from a journal entry to a ledger account.

account number

• The number assigned to an account.
• Determining that the amount of cash agrees with the accounting records.
• The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.

file maintenance

• The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
• If a transaction has been improperly journalized and posted to the ledger, the incorrect journal entry should be corrected with an additional journal entry, called a correcting entry.
• The number assigned to an account.

opening an account

• Writing an account title and number on the heading of an account.
• The number assigned to an account.
• If a transaction has been improperly journalized and posted to the ledger, the incorrect journal entry should be corrected with an additional journal entry, called a correcting entry.

posting

• Transferring information from a journal entry to a ledger account.
• The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
• Determining that the amount of cash agrees with the accounting records.

proving cash

• Determining that the amount of cash agrees with the accounting records.
• Transferring information from a journal entry to a ledger account.
• A ledger that contains all accounts needed to prepare financial statements.

correcting entry

• If a transaction has been improperly journalized and posted to the ledger, the incorrect journal entry should be corrected with an additional journal entry, called a correcting entry.
• Writing an account title and number on the heading of an account.
• A group of accounts.