Accounting Unit 4

A group of accounts.

• Account Number

• General Ledger

• Ledger

• Posting

A ledger that contains all accounts needed to prepare financial statements.

• General Ledger

• Ledger

• Posting

• Correcting Entry

The number assigned to an account.

• Correcting Entry

• File Maintenance

• Proving Cash

• Account Number

The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.

• opening an account

• correcting entry

• posting

• file maintenance

Writing an account title and number on the heading of an account.

• opening an account

• posting

• correcting entry

• proving cash

Transferring information from a journal entry to a ledger account.

• general ledger

• proving cash

• posting

• ledger

Determining that the amount of cash agrees with the balance of the cash account in the accounting records.

• proving cash

• correcting entry

• opening an account

• posting

A journal entry made to correct an error in a previous journal entry.

• file maintenance

• general ledger

• account number

• correcting entry

Because an account form has columns for the debit and credit balance of an account, It is often referred to as the balance- ruled account form.

• True

• False

The asset division accounts for TechKnow Consulting are numbered in the 100s.

• True

• False