WorksheetsAccounting Chapter 4
Total questions: 24
Worksheet time: 12mins
A journal shows in one place all the changes to a single account.
True
False
Account numbers may be assigned by 10s so that new accounts can be easily added.
True
False
The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records is called posting.
True
False
If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120.
True
False
If a new account is located between accounts numbered 510 and 520, the new account number should be 515.
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
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 befoe amounts are recorded in the ledger.
True
False
The only reason the 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
The steps for posting are to write the date, journal page number, amount and balance.
True
False
When all posting is completed, the journal's Post. Ref. column is completely filled.
True
False
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
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
doing file maintenance
journalizing
none of these
The procedure for transferring information from a journal entry to a ledger account is
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 and 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 and Credit column of the account.
none of these.
An account number in the journal's Post. Ref. column shows
the account to which the 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 begining of the journal page.
the next day.
all of these.
When the previous balance of an account is zero and a credit amount is posted to the account, the new balance is a
dollar amount.
credit.
debit.
none of these.
Determing that the amount of cash agrees with the accounting records is
posting.
journalizing.
proving cash.
none of these.
