Accounting General Journal, 11E-Chapter 4
Errors discovered after an entry is posted may be corrected by ruling through the item.
False
If the payment of cash for rent was journalized and posted in error as a debit to Miscellaneous Expense instead of Rent Expense, the correcting entry will include a credit to Cash.
False
Separate amounts in a journal's special amount columns are posted individually.
False
The column total of the General Credit column is posted.
False
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.
False
The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.
False
The steps for posting are to write the date, the journal page number, the amount, and the balance.
False
The two steps for opening an account are writing the account title and recording the balance.
False
A check mark in parentheses below a General Debit column total indicates that the total is not posted.
True
A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.
True
A group of accounts is called a ledger.
True
All corrections for posting errors should be made in a way that leaves no question as to the correct amount.
True
If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit.
True
Only the column totals for special amount columns in a journal are posted.
True
Separate amounts in general amount columns are posted individually.
True
The Cash account is the first asset account and is numbered 110.
True
The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.
True
The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is known as file maintenance.
True
When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.
True
With the exception of the total lines, the Post. Ref. column of the journal is completely filled in wit either an account number or a check mark.
True
The last step in the posting procedure is to write the
account number in the Post. Ref. column of the journal.
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
doing file maintenance
The first digit in the account number 520 means that the account is in the
expense division of the general ledger
If an error requires a correcting entry, the source document describing the correction to be made
is a memorandum
The second step in the posting procedure is to write the
journal page number in the Post. Ref. column of the journal
If both accounts on a journal line are recorded in special amount columns,
neither amount is posted individually
Posting references in a journal are
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
The procedure for transferring information from a journal entry to a ledger account is
posting
An account number in the journal's Post. Ref. column shows
the account to which an amount is posted.
