Accounting chapter 4 true false
The only reason for 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
falae
Delgado Web Services arranges expense accounts in chronological order in its general ledger.
false
Errors discovered before entries are posted must be corrected with a correcting entry.
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 general amount columns are not posted individually
false
The asset division accounts for Delgado Web Services are numbered in the 200s.
false
The first digit of account numbers for accounts in the owner's equity ledger division is 4
false
The last two digits in a 3-digit account number indicate the general ledger division of the account.
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
All corrections for posting errors should be made in a way that leaves no question as to the correct amount.
true
Because an account form has columns for the debit and credit balance of an account, it is often referred to as the balance-ruled account form.
true
If an error in posting is made but not discovered until additional postings have been made to the account, the correct posting should be made on the next available line in the correct account.
true
If an error requires a correcting entry, a memorandum is prepared as the source document describing the correction to be made.
true
Separate amounts in special amount columns are not posted individually.
true
The third division of Delgado Web Services chart of accounts is the owner's equity division
true
The totals of general amount columns in a journal are not posted.
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 totals lines, the Post. Ref. column is completely filled in with either an account number or a check mark.
true
he cash account for Delgado Web Services is the first asset account and is numbered 110
true
