Ch 4 T/F Posting to the General Ledger

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

• true

• false

A journal shows in one place all the changes in a single account

• true

• false

The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure

• true

• false

The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger

• true

• false

The two steps for opening an account are writing the account title and recording the balance

• true

• false

The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is know as file maintenance

• 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

If the payment for cash for rent was journalized and posted in error as a debit to Miscellaneous Expense instead of Rent Expense, the correcting entry will include a credit to Cash

• true

• false

If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit

• true

• false