WorksheetsAccounting Ch 4
Total questions: 13
Worksheet time: 7mins
The first digit in the account number 520 means that the account is in the
expense division
asset division
liability division
owner's equity division
When account are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are
journalizing
doing file maintenance
The procedure for transferring information from a journal entry to a ledger account is
posting
file maintenance
journalizing
The last step in the posting procedure is to write the
entry date
journal page number
account # in the Post Ref column of the account
An account number in the journal's Post Ref column shows
that the work on that journal page is completed
the account to which an amount is posted
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 page 2
on the next day
Determining that the amount of cash agrees with the accounting records is
posting
proving cash
journalizing
writing in my diary
If an error requires a correcting entry, the source document describing the correction to be made
is a memo
is a check stub
The two steps for opening an account are writing the account title and recording the balance
T
F
The steps for posting are to write the date, the journal page number, the amount, and the balance.
T
F
The posting reference should always be recorded in the journal's Post Ref column before amounts are recorded in the ledger
T
F
Errors discovered after an entry is posted may be corrected by ruling through the item.
T
F
If the payment of cash for rent was journalized and posted in error as a debit to Miscelleneous Expense instead of Rent Expense, the correcting entry will include a credit to Cash
T
F
