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WorksheetsAccounting Chapter 4
Total questions: 25
Worksheet time: 21mins
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.
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.
The 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.
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.
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.
on the next day.
all of these.
This requires a debit and a credit for each transaction
Chart of Accounts
Double Entry Accounting
Ledger
T Account
This is always on the increase side of an account
Credti
Debit
Normal Balance
Decrease Side
The amount entered on the left side of an account
Credit
Debit
Normal Balance
Decrease Side
An amount entered on the right side of an account
Credit
Debit
Increase Side
Decrease Side
An "official" list of all the accounts used by a business to record its transactions.
Chart of Accounts
Ledger
T Accounts
Double Entry Accounting
The normal balance for asset accounts
Debit
Credit
The normal balance for the owner's capital account
Debit
Credit
An increase in a liability account is recorded as a
Debit
Credit
An increase to Susan Dixon, Capital
Debit
Credit
A business groups its accounts in a ledger.
True
False
A chart of accounts is limited to 50 accounts.
True
False
The difference between the debit and credit amounts in an account is the account balance.
True
False
A journal entry made to correct an erroneous entry is called:
Correcting Entry
Compound Entry
Fixed Entry
The general ___________ is the record of original entry and the general __________ is the record of final entry.
Ledger, Journal
Journal, Ledger
Account, Payable
A permanent, classified record of all account used in a firm's operation. A record of final entry.
General Journal
General Ledger
