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WorksheetsAccounting I Chp 4
Total questions: 20
Worksheet time: 10mins
A journal shows in one place all the changes in a single account.
True
False
Account numbers may be assigned by 10s so that new accounts can be added easily.
True
False
The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is posting.
True
False
If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120.
True
False
A group of accounts is called a ledger.
True
False
A journal page number is written in the Post. Ref. column of an account to show that posting of the entry is completed.
True
False
The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.
True
False
If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit.
True
False
The cash account is the first asset account and is numbered 100.
True
False
When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.
True
False
The two steps for opening an account are writing the account title and recording the balance.
True
False
The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.
True
False
The only reason for the Post. Ref. columns of the journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.
True
False
This first digit in the account number 120 means that the account is in the
expense division of the general ledger
revenue division of the general ledger.
liability division of the general ledger.
asset division of the general ledger.
When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are
posting.
journalizing.
file maintenance.
none of these.
The first step in the posting procedure is writing the
entry date in the Date column of the account.
journal page number in the Post. Ref. column of the account.
entry amount in the Debit or Credit column of the account.
none of these.
The last step in the posting procedure is writing the
entry date in the Date column of the account.
journal page number in the Post. Ref. column of the account.
entry amount in the Debit or Credit column of the account.
none of these.
An account number in the journal's Post. Ref. column shows
the account to which an amount is posted.
the date of the entry.
that work on that journal page is completed.
none of these.
Posting references in a journal are
not necessary
the first item recorded when posting.
always placed in an account's Post. Ref. column.
none of these.
If posting is interrupted, the accounting personnel know to resume posting
on the line with a blank Post. Ref. column in the journal
at the beginning of the journal page.
the next day.
all of these.
