Accounting Ch 4

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

• expense division

• asset division

• liability division

• owner's equity division

When account are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

• journalizing

• doing file maintenance

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

• posting

• file maintenance

• journalizing

The last step in the posting procedure is to write the

• entry date

• journal page number

• account # in the Post Ref column of the account

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

• that the work on that journal page is completed

• the account to which an amount is posted

If posting is interrupted, the accounting personnel know to resume posting

• on the line with a blank Post Ref column in the journal

• at the beginning of the journal page

• on page 2

• on the next day

Determining that the amount of cash agrees with the accounting records is

• posting

• proving cash

• journalizing

• writing in my diary

If an error requires a correcting entry, the source document describing the correction to be made

• is a memo

• is a check stub

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

• T

• F

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

• T

• F