50. The term "posting" as used in accounting means a. recording an accountable event in debit-credit format. b. transferring the debits and credits of journal entries from the journal to the affected accounts in the ledger. c. checking the equality of the monetary totals of debits and credits of accounts in the ledger. d. uploading photographs to the internet.

50. The term "posting" as used in accounting means a. recording an accountable event in debit-credit format. b. transferring the debits and credits of journal entries from the journal to the affected accounts in the ledger. c. checking the equality of the monetary totals of debits and credits of accounts in the ledger. d. uploading photographs to the internet.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 5E: Arrange the following steps in the posting process in correct order: a. The amount of the balance of...

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50. The term "posting" as used in accounting means
a. recording an accountable event in debit-credit format.
b. transferring the debits and credits of journal entries from the journal to the affected accounts in the
ledger.
c. checking the equality of the monetary totals of debits and credits of accounts in the ledger.
d. uploading photographs to the internet.

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Arrange the following steps in the posting process in correct order: a. The amount of the balance of the ledger account is recorded in the Debit Balance or Credit Balance column. b. The amount of the transaction is recorded in the Debit or Credit column of the ledger account. c. The ledger account number is recorded in the Post. Ref. column of the journal. d. The date of the transaction is recorded in the Date column of the ledger account. e. The page number of the journal is recorded in the Post. Ref. column of the ledger account.
Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6).__________ a. Post the transaction to the T-accounts in the general ledger.__________ b. Assess whether the impact of the transaction results in a debit or credit to account balances.__________ c. Use source documents to identify accounts affected by an external transaction.__________ d. Analyze the impact of the transaction on the accounting equation.__________ e. Prepare a trial balance.__________ f. Record the transaction using debits and credits.
The process of transferring the debit and credit information from the journal to individual accounts in the general ledger is called journalizing. Question 4 options: True False
The process of transferring the debits and credits from the journal entries to the accounts is called A. sliding B. transposing C. posting
Which of the following is true about T accounts? Please explain with full explanation. a. The left side of a T account is called the debit side. b. The left side of a T account is called the credit side. c. The right side of a T account is called the debit side. d. Transactions are first recorded in T accounts and then posted to the journal.
The process of posting is the transfer of debits and credits from the O a. T accounts to the journal. Ob. T accounts to the ledger. O c. journal to the ledger. O d. ledger to the journal.
All transactions entered in this window result in a debit to the Accounts Receivable account. a. Invoice b. Undeposited Funds c. Accounts Payable d. Cash
Which of the following statements is not correct? O A trial balance would help in detecting an error made while transcribing the debit side of a journal entry to the ledger O A journal discloses in one place the complete effects of a transaction O The correct sequence of steps in the recording process is: posting. journalizing, analyzing The chart of accounts is a listing of the accounts and the account numbers which identify their location in the ledger
Select the item that best completes each of the descriptions below. a. A collection of accounts and account balances is referred to as a(n) b. A(n). such as a bank statement, is objective evidence of transactions and their amounts. c. Increases and decreases in a specific asset, liability, equity, revenue, or expense are recorded in a(n) d. A(n) _ асcount has a complete record of every transactions recorded. journal e. A list of all ledger accounts and identification numbers, not including account balances, is called a(n). of accounts.
Posting from the journal to the ledger does NOT involve which of the following steps? a.Enter the amount of each transaction in the accounts. b.Enter the page of the journal from which each transaction is posted in the accounts. c.Enter the date of each transaction in the accounts. d.Enter the description of the entry.
Which journal entries is correct when a business entity collects an accounts receivable? A. Cash - debit. Accounts receivable - credit. B. Accounts receivable- debit. Service revenue - credit. C. Cash- debit. Accounts Payable- credit. D. Cash -debit. Notes payable - credit.
Which one of the following step does not involve Posting from journal to the ledger? a. Enter the description of the entry. b. Enter the page of the journal from which each transaction is posted in the accounts. c. Enter the amount of each transaction in the accounts. d. Enter the date of each transaction in the accounts.