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WorksheetsAcctg Ch 4 Posting
Total questions: 37
Worksheet time: 26mins
Name
Class
Date
1.
A group of accounts.
a)
File maintenance
b)
Ledger
c)
General Ledger
d)
Posting
2.
A ledger that contains all accounts needed to prepare financial statements.
a)
Ledger
b)
General Ledger
c)
Account
d)
File Maintenance
3.
The number assigned to an account.
a)
File maintenance
b)
Account
c)
Account number
d)
Account title
4.
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
a)
Posting
b)
Journalizing
c)
Opening an account
d)
File maintenance
5.
Writing an account title and number on the heading of an account.
a)
Opening an account
b)
File maintenance
c)
Posting
d)
Ledger maintenance
6.
Transferring information from a journal entry to a ledger account.
a)
File maintenance
b)
Opening an account
c)
Balancing an account
d)
Posting
7.
An additional journal entry made to correct an incorrect journal entry.
a)
File maintenance
b)
Secondary entry
c)
Correcting entry
d)
Incorrect entry
8.
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.
a)
True
b)
False
9.
Separate amounts in general amount columns are not posted individually.
a)
True
b)
False
10.
The first digit of account numbers for accounts in the owner's equity ledger division is 4.
a)
True
b)
False
11.
The two steps for opening an account are writing the account title and recording the balance.
a)
True
b)
False
12.
A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.
a)
True
b)
False
13.
The steps for posting are to write the date, the journal page number, the amount, and the balance.
a)
True
b)
False
14.
If the previous account balance and the current entry posted to an account are both credits, the new account balance is a credit.
a)
True
b)
False
15.
The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.
a)
True
b)
False
16.
The only use for the Post. Ref. column of a journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.
a)
True
b)
False
17.
The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.
a)
True
b)
False
18.
If the payment of cash for repairs was journalized and posted in error as a debit to Miscellaneous Expense instead of Repair Expense, the correcting entry would include a credit to Cash.
a)
True
b)
False
19.
A group of accounts is called a ledger.
a)
True
b)
False
20.
If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit.
a)
True
b)
False
21.
A journal shows, in one place, all the changes in a single account.
a)
True
b)
False
22.
All corrections for posting errors should be made in a way that leaves no question as to the correct amount.
a)
True
b)
False
23.
Only the column totals for special amount columns in a journal are posted.
a)
True
b)
False
24.
The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is known as file maintenance.
a)
True
b)
False
25.
Account numbers may be assigned by 10s so that new accounts can be added easily.
a)
True
b)
False
26.
The Cash account is the first asset account and is numbered 110.
a)
True
b)
False
27.
When adding a new expense account between accounts numbered 530 and 540, the new account is assigned the account number 535.
a)
True
b)
False
28.
Errors discovered after an entry is posted may be corrected by ruling through the item.
a)
True
b)
False
29.
The totals of general amount columns in a journal are not posted.
a)
True
b)
False
30.
The last step in the posting procedure is to write the
a)
entry date in the Date col of the acct
b)
journal page # in the Post Ref col of acct
c)
acct # in the Post Ref col of journal
d)
entry amt in the Debit or Credit col of acct
31.
If both amounts on a journal line are recorded in special amount columns,
a)
only one of the amts is posted individually
b)
neither amt is posted individually
c)
both amts are posted individually
d)
all of these
32.
If an error requires a correcting entry, the source document describing the correction to be made
a)
depends on the type of error made
b)
is a check stub
c)
depends on the type of correcting entry
d)
is a memorandum
33.
The first digit in the account number 540 means that the account is in the
a)
expense division of the gen ledger
b)
revenue division of the gen ledger
c)
liability division of the gen ledger
d)
asset division of the gen ledger
34.
An account number in the journal's Post. Ref. column shows
a)
the date of the entry
b)
that work on the journal page is completed
c)
the acct to which an amt is posted
d)
none of these
35.
The second step in the posting procedure is to write the
a)
entry date in the Date col of the acct
b)
journal page # in the Post Ref col of acct
c)
acct # in Post Ref col of journal
d)
entry amt in Debit or Credit col of acct
36.
Posting references in a journal are
a)
the first item recorded when posting.
b)
always placed in an acct's Post Ref col
c)
not necessary
d)
none of these
37.
If posting is interrupted, the accounting personnel know to resume posting
a)
on the line with a blank Post Ref col in journal
b)
at the beginning of the journal page
c)
the next day
d)
all of these
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