Accounting 4.00 Review

A group of accounts

• Proving cash

• Posting

• Ledger

• Correcting entry

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

• File maintenance

• Correcting entry

• Account number

• General ledger

The number assigned to the account

• Correcting entry

• Ledger

• File maintenance

• Account number

5. 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

• Ledger

• Correcting entry

• Proving cash

• Posting

An entry made to correct an error that is discovered after posting is completed

• General ledger

• File maintenance

• Proving cash

• Correcting entry

Determining that the amount of available cash agrees with the balance of the cash account

• Ledger

• Correcting entry

• Proving cash

Taco Home paid cash for advertising, $400. The journal entry to record this transaction is:

The correct journal entry for the transaction PAID CASH FOR PRINTER CARTRIDGES is:

• debit Owner's Drawing and credit Cash.

• debit Cash and credit Owner's Capital.

• debit Supplies and credit Cash.

• debit Miscellaneous Expense and credit Cash.

The correct journal entry for the transaction RECEIVED A CHECK FOR BIKE RENTAL FEES is:

• debit Cash and credit Rental Fees.

• debit Miscellaneous Expense and credit Cash.

• debit Rental Fees and credit Cash.

• debit Rental Fees and credit Miscellaneous Expense.