CH 4 Review

What is the last step in the posting procedure?

To write the account number in r in the Post. Ref. column of the journal

What is the second step in the posting procedure?

To write the journal page number in the Post. Ref. column of the account.

The posting reference should always be recorded in the journal's Post. Ref. column ___________ amounts are recorded in the ledger.

after

A group of accounts is called a ______________________________.

ledger

What does an account number in the Post. Ref. column of the journal show?

the account to which an amount has been posted

The ______________ account is the first asset account and is numbered 110.

cash

The first digit in the account number 520 means that the account is in the _____________ division of the general ledger.

expense

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

If posting is interrupted, where do you begin when posting resumes?

on the line with the blank Post. Ref. column in the journal

What is the procedure for transferring information from a journal entry to a ledger?

posting

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number _______________________.

515

What is proving cash?

determining that the amount of cash agrees with the accounting records

When posting is complete, the Post. Ref. column in the __________________________________ is completely filled with account numbers.

general journal

A ___________________ shows in one place all the changes to a single account.

ledger

What is the source document used for a correcting entry?

memorandum