Accounting ch4 T/F
true
a check mark in parentheses below a general debit column total indicates that the total is not posted
true
a chart of accounts is a list of account titles and numbers showing the location of each account in a ledger
false
a journal page number is written in the post ref. column of an account o show that posting of the entry is completed
false
a journal shows in one place all the changes in a single account
true
a ledger is a group of accounts
true
a ledger that contains all accounts needed to prepare financial statements is a general ledger
false
at the end of the year accounting departments perform file maintenance by opening new files for the next years journals and ledgers
true
because an account has columns for the debit and credit balance of an account it is often referred to as the balance ruled account form
true
if a new account is located between accounts numbered 210 and 220 the new account number should be 215
false
on a chart of accounts all the asset and expense accounts are in the division
true
opening an account refers to the procedure of writing an account title and number on the heading of an account
true
posting is transferring information from a journal entry to a ledger account
true
separate amounts in a sales credit column are not posted individually
false
separate amounts in general amount columns are not posted individulally
true
the account number is placed in the post ref column of the journal as the last step in the posting procedure
false
the first asset account is numbered 100
true
the only column totals for special amount columns in a journal is posted
false
the only reason for the post ref column of the journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted
false
the second division in the chart of accounts is the owners equity division
false
the steps for posting are to write the date journal page number amount and balance
true
the total of the cash credit column is posted
false
the total of the cash debit column is not posted
true
the total of the general credit column is not posted
true
the total of the sales credit column is posted
false
the two steps for opening an account are writing the account title and recording the balance
