General ledger

Question 1

Cheat notes

Answer 1

DEAD and CLIC

Question 2

Debit position

Answer 2

Left side

Question 3

Credit position

Answer 3

Right side

Question 4

DEAD meaning

Answer 4

Debit, Expenses, assets, drawings

Question 5

Clic meaning

Answer 5

Credit, liabilities, income, capital

Question 6

Dead increase and decrease position

Answer 6

Increases on the left side and decreases of the right side

Question 7

Clic increases and decrease positions

Answer 7

Increases on the right side and decreases on the left side

Question 8

Rule of the general ledger

Answer 8

Debit = create an equal credit entry, Credit = create a equal debit entry

Question 9

Rule

Answer 9

For every credit entry there is an equal debit entry an for every debit entry there is an equal credit entry

Question 10

Journals in general ledger

Answer 10

Totals from journals are posted to the General Ledger at the end of the month

Question 11

Intrest on loan equation

Answer 11

Amount x 10% over 100 x number of months of the annual annume = 12 months