Accounting Week # 3

Terminology 1

100

______ _____ ____ is another name for the Journal or the first form accounting record of a transaction

Book of Original Entry

200

_____ _____ is also called a list of all account used by a business is

Chart of Account

300

A ____ ____ is a general journal entry that affects more than two columns

Compound Entry

400

A ___ ____ is an entry to correct an incorrect entry that has been journalized and posted to the wrong account

Correcting Entry

500

a ___ _______ is defined as the information in the Posting Reference columns of the journal and ledger that provides a link between the journal and ledger

Cross-Reference

Terminology 2

100

______ ____ ______ is defined as an account with columns for the debit or credit transaction and columns for the debit or credit running balance

General Ledge Account

200

A _________ is a day- by–day listing of the transactions of a business

Journal

300

___________ is the process of entering the transactions in a journal

Journalizing

400

Copying the debits and credits from the journal to the ledger accounts is called ______

Posting

500

A method of correcting an entry in which a line is drawn through the error and the correct information is placed above it is called _____ _______

Ruling Method

Terminology 3

100

An error that occur when debit or credit amount “slide” a digit or two to the left or right is called a ________  _____

Slide Error

200

Any document that provides information about a business transaction is referred to as a ___  ____

Source Document

300

An error that occurs when two digits are reversed is also called a _______ ____

Transposition Error

400

A list used to prove that the totals of the debit and credit balances in the ledger account are equal is called a ___ ____

Trial Balance

500

A journal with only two amount columns, one for debit amounts and one for credit amounts is called a ______ ___ ___ ____

Two column General Journal

Terminology 4

100

A complete set of all the accounts used by a business which accumulate a complete record of the debits and credit made to each account as a result of entries made in the journal, is described as a _____ ______

General Ledger