Study Guide 3 Flashcards
1
Q
What number is assets
A
100
2
Q
What number is liabilities?
A
200
3
Q
What number is owners equity?
A
300
4
Q
What number is revenue?
A
400
5
Q
What number is expenses?
A
500
6
Q
A ledger that contains all accounts need to prepare financial statements?
A
General ledger
7
Q
The number assigned to an account?
A
Account number
8
Q
A group of accounts?
A
Ledger
9
Q
The procedure for arranging accounts in a general ledger assigning account numbers, and keeping records current?
A
File maintenance
10
Q
Writing an account title and number on the heading of an account?
A
Opening an account
11
Q
Transferring information from a journal entry to a ledger account?
A
Posting
12
Q
An additional journal entry made to correct an incorrect journal entry?
A
Correcting entry
