1. Posting a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period 2. Account 3. Debit b. The record holding all the accounts of a business, the changes in those accounts, and their balances 4. Journal 5. Chart of accounts c. A journal entry that is characterized by having multiple debits and/or multiple credits 6. Trial balance 7. Normal balance d. A record of transactions in date order 8. Ledger e. Left side of a T-account 9. Credit 10. Compound journal entry f. Side of an account where increases are recorded g. Transferring amounts from the journal to the ledger h. Right side of a T-account i. A list of all accounts with their balances at a point in time j. A list of all accounts with their account numbers

1. Posting a. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period 2. Account 3. Debit b. The record holding all the accounts of a business, the changes in those accounts, and their balances 4. Journal 5. Chart of accounts c. A journal entry that is characterized by having multiple debits and/or multiple credits 6. Trial balance 7. Normal balance d. A record of transactions in date order 8. Ledger e. Left side of a T-account 9. Credit 10. Compound journal entry f. Side of an account where increases are recorded g. Transferring amounts from the journal to the ledger h. Right side of a T-account i. A list of all accounts with their balances at a point in time j. A list of all accounts with their account numbers

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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