chapter 4 accounting review

true

The totals of general amount columns in a journal are not posted.

c

An account number in the journal's Post. Ref. column shows (A) the date of the entry. (B) that work on that journal page is completed. (C) the account to which an amount is posted. (D) none of these.

false

The steps for posting are to write the date, the journal page number, the amount, and the balance.

d

If an error requires a correcting entry, the source document describing the correction to be made (A) depends on the type of error made. (B) is a check stub. (C) depends on the type of correcting entry. (D) is a memorandum.

false

Separate amounts in general amount columns are not posted individually.

a

The first digit in the account number 520 means that the account is in the (A) expense division of the general ledger. (B) revenue division of the general ledger. (C) liability division of the general ledger. (D) asset division of the general ledger.

c

The last step in the posting procedure is to write the (A) entry date in the Date column of the account. (B) journal page number in the Post. Ref. column of the account. (C) account number in the Post. Ref. column of the journal. (D) entry amount in the Debit or Credit column of the account.

true

A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.

b

If both amounts on a journal line are recorded in special amount columns, (A) only one of the amounts is posted individually. (B) neither amount is posted individually. (C) both amounts are posted individually. (D) all of these.

a

If posting is interrupted, the accounting personnel know to resume posting (A) on the line with a blank Post. Ref. column in the journal. (B) at the beginning of the journal page. (C) the next day. (D) all of these.

true

Only the column totals for special amount columns in a journal are posted.

d

Posting references in a journal are (A) the first item recorded when posting. (B) always placed in an account's Post. Ref. column. (C) not necessary. (D) none of these.

a

The procedure for transferring information from a journal entry to a ledger account is (A) posting. (B) journalizing. (C) file maintenance. (D) none of these.

b

The second step in the posting procedure is to write the (A) entry date in the Date column of the account. (B) journal page number in the Post. Ref. column of the account. (C) account number in the Post. Ref. column of the journal. (D) entry amount in the Debit or Credit column of the account.

false

The two steps for opening an account are writing the account title and recording the balance.

c

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 (A) posting. (B) journalizing. (C) doing file maintenance. (D) none of these