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Accounting Chapter 4
Posting to a General Ledger
Question | Answer |
---|---|
A group of accounts. | Ledger |
A ledger that contains all accounts needed to prepare financial statements. | General Ledger |
The number assigned to an account. | Account Number |
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current. | File Maintenance |
Writing an accounts title and number on the heading of an account. | Opening an Account |
Transferring information from a journal entry to a ledger account. | Posting |
In such a case, the incorrect journal entry should be corrected with an additional journal entry. | Correcting Entry |