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Debit
Credit
Transaction
Increase
Decrease
100
The number assigned to an account.
What is an account number?
100
A journal entry made to correct an error in a previous journal entry.
What is a correcting entry?
100
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
What is file maintenance?
100
A ledger that contains all accounts needed to prepare financial statements.
What is general ledger?
100
A group of account.
What is a ledger?
200
Writing an account title and number on the heading of an account.
What is opening an account?
200
Transferring information from a journal entry to a ledger account.
What is posting?
200
A form that has columns for debit and credit balances.
What is the balanced-ruled account form?
200
The number that assets begin with.
What is a 1?
200
The number that liabilities begin with.
What is a 2?
300
The number that owner's equity accounts begin with.
What is a 3?
300
Two owner's equity accounts.
What are capital and drawing?
300
The number that revenue accounts begin with.
What is a 4?
300
The number that expenses begin with.
What is a 5?
300
The section of accounts that are listed in abc order.
What are expenses?
400
The first account in the assets section.
What is cash?
400
Two steps for opening an account.
What are writing the account title and number?
400
The special columns on a five-column journal.
What are sales and cash?
400
Indicates on the general total columns that they are not to be posted.
What is a check mark?
400
An indication that the journal has been proved and is correct.
What is a double underline?
500
Where the account numbers are written after a transaction has been posted.
What is the Post Ref column?
500
Classmates that celebrate birthdays in October.
Who are Nick, Dan & Abby?
500
Three students with the higest grades in the class.
Who are CJ, Tim & Liang Wen?
500
Journal entries that are not posted separately.
What are sales and cash?
500
The five categories used in creating a chart of accounts.
What are assets, liabilities, owner's equity, revenue and expenses?