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Special Journals
Normal Balances
Closing entries
Sub Ledgers
Misc.
100
The number of special journals used in a merchandising business.
What is five?
100
The normal balance for Accounts Payable.
What is credit?
100
The accounts zero'd out at the end of the month are referred to as this.
What are temporary accounts?
100
The two sub ledgers we have worked with.
What is the A/P sub ledger, and the A/R sub ledger?
100
List of all accounts and their balances.
What is the trial balance?
200
This journal is used only to record purchases made on account.
What is the Purchases Journal?
200
Normal balance for Sales.
What is Credit?
200
Revenues and expenses are moved into this temporary account.
What is the Income Summary Account?
200
The only balance column in the A/P sub ledger.
What is Credit Balance?
200
Number of steps in the accounting cycle.
What is eight?
300
This journal is only used to post sales made on account.
What is the Sales Journal?
300
The normal balance for Sales taxes?
What is credit?
300
The income summary account balance is transferred into this account.
What is the Capital account?
300
The only balance column on the A/R sub ledger.
What is the DR Balance?
300
The five steps to posting.
What is date, page number, amount, balance and account number (post ref)
400
The three special columns on the Cash Payments Journal.
What is the Accounts Payable DR, Purchases Discount, and Cash CR.
400
Normal balance for Cash.
What is Debit?
400
The drawings account balance is transferred into this account.
What is the Capital account?
400
After journalizing to the Purchases Journal, transactions are posted to this sub ledger.
What is the A/P Ledger?
400
The two ledgers you post to from the Purchases ledger?
What is the A/P sub ledger, and the General ledger?
500
The three special columns on the Sales Journal.
What is the Accounts Receivable DR, Sales Cr, and Sales Tax CR?
500
Normal balance for Expenses.
What is Debit?
500
The four closing entries.
What are the Revenue, Expenses, Net Income, and Drawings entries.
500
After journalizing to the Sales Journal, transactions are posted to this sub ledger.
What is the A/R sub ledger?
500
The four sections of Owners Equity.
What is Capital, Drawings, Expenses, and Revenues (Sales)