posting to general ledger Flashcards
1
Q
ledger
A
a group of accounts
2
Q
account form
A
used to summarize in one place all the changes to a single account
3
Q
general ledger
A
a ledger that contains all accounts needed to prepare financial statements
4
Q
account title
A
the name given to an account
5
Q
account number
A
a number assigned to an account
6
Q
file maintenance
A
The procedure for arranging accounts in a general
ledger, assigning account numbers, and keeping records
current
7
Q
opening an account
A
Writing an account title and number on the heading of an
account
8
Q
posting
A
transferring information from a journal entry to a ledger account
9
Q
correcting entry
A
An incorrect journal entry should be corrected with an
additional journal entry,
