Posting 1
Posting is also known as this.
What is Transferring?
This step comes after journalizing.
What is Posting?
When you are posting, you will post to at least _______ accounts.
What is 2?
The number assigned to an account.
What is Account Number?
Name given to an account.
What is Account Title?
When you are posting a credit to an account with a debit balance, the account balance will_______
What is Decrease?
When you are posting a debit to an account with a debit balance, the account balance will__________.
What is Increase?
This is generally the account number for the cash account.
What is 110?
The updated total in each account is known as this.
What is Balance?
Transferring information from a journal entry to a ledger account.
What is Posting?
You will input this in the Post Ref. column of the General Journal when you are posting.
What is Account Number?
You will always be posting as a credit in these account(s).
What is Sales and Owner's Capital?
This account gets a debit when you are paying cash back on account.
What is Accounts Payable?
When an incorrect journal entry should be corrected with an additional journal entry.
What is Correcting Entry?
A ledger that contains all accounts needed to prepare financial statements.
What is General Ledger?
If you are posting a journal entry to the cash account, you will complete this many steps.
What is 5 Steps?
You will input this in the Post Ref. column of an account when posting tot he general ledger.
What is Journal and Journal Page #?
These asset accounts can be posted as a debit and credit.
What is Cash and Accounts Receivable?
A group of accounts.
What is a Ledger?
Writing an account title and number on the heading of an account.
What is Opening an Account?
Which account number is used if you want to open up a Postage Expense account with the given accounts.
Advertising Expense
Miscellaneous Expense
Rent Expense
Repairs Expense
What is 525?
You will arrange accounts receivable accounts in the chart of accounts based off of this.
What is Alphabetical by Last Name?
The accounts on the right side of the Chart of Accounts is known as this.
What is Income Statement Accounts?
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
What is File Maintenance?
Determining that the amount of cash agrees with the balance of the cash account in the accounting records.
What is Proving Cash?