The column in which the journal page where the original entry for the transaction can be located.

• Journalizing Reference

• Ledger reference

• Reference

• Posting Reference

A form of ledger containing individual columns for the debit, credit and the balance.

• One-column Ledger

• Two-column Ledger

• Three-Column Ledger

• Four-Column Ledger

The error caused by interchanging digits in a figure

• Error of Omission

• Slide

• swing

• Transposition Error

File that contains all or groups of the company’s accounts, arranged in the order of the chart of accounts.

• Book of Original Entry

• General Journal

• Ledger

• Worksheet

The process of transferring journal entry information from the journal to the ledger.

• Balancing

• Footing

• Journalizing

• Posting

The journal entry that is prepared to put right a previously made entry.

• Adjusting Entry

• Compound Journal Entry

• Correcting Entry

• Simple Journal Entry

Posting

• Is an optional step in the classifying process.

• Normally occurs before journalizing

• Transfers journal entries to ledger accounts

• Transfers ledger transaction date to the journal

A trial balance

• Is a list of accounts with their balance at a given time

• Proves that all transactions have been recorded

• Proves the mathematical accuracy of journalized transactions.

• Will not balance if a correct journal entry is posted twice

A Trial balance will not balance if

• A correct journal entry is posted twice

• A P10,500 payment on account is debited to Accounts Payable to P1,050 and credited to cash for P1,050.

• A P2,000 cash withdrawal by the owner is debited to Owner’s Drawing for P20,000 and credited to cash for P2,000

• The purchase of supplies on account is debited to Supplies and credited to Cash

The left side of an account.

• Account Name

• Balance

• Credit

• Debit