Accounting Quiz

What is the process of transferring information from a journal entry to a ledger account called?

• Balancing

• Posting

• Summarizing

• Journalizing

Where should the date 'Aug. 3' be written in the process of posting an amount from a general debit column?

• In the Account Title column

• In the Debit Amount column

• In the Date column of the account Supplies

• In the Journal Page Number column

What should be written in the Post. Ref. column during the posting process?

• The account balance

• The debit amount

• The account number

• The journal page number

When posting a separate amount from a general debit column, what is the first step according to the STEPS box?

• Write the journal page number

• Write the date in the Date column

• Write the account number in the Post. Ref. column

• Write the debit amount in the Debit amount column

After posting a separate amount from a general debit column, what is the final step in the STEPS box?

• Write the new account balance

• Return to the journal and write the account number

• Write the debit amount

• Write the date

According to the example provided, what is the new balance in the Supplies account after posting?

• $0.00

• $275.00

• $2750.00

• $27.50

What is the first step in posting a second amount to an account according to the STEPS section?

• Write the new account balance in the Balance Debit column.

• Write the date in the Date column of the account.

• Return to the journal and write the account number in the Post. Ref. column of the journal.

• Write the debit amount, $500.00, in the Debit amount column.

What should be written in the Post. Ref. column of the account during the second step?

• The account number

• The new account balance

• The journal page number

• The debit amount

According to the REMEMBER section, how are separate amounts in the General Debit and Credit columns of a journal posted?

• They are posted as a total of the columns.

• They are posted individually.

• They are not posted.

• They are posted together with the account balance.

What is the new debit balance after posting an additional $500.00 according to the example provided?

• $275.00

• $500.00

• $775.00

• $1,275.00