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footing.

footing.

FINANCIAL ACCOUNTING
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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nstruction: Encircle the letter of your choice. The transaction Name Date Score 1. The process of subtotaling both sides of an account and recording the amount on that side is known as footing. b. taking a trial balance. a. c. posting. d. balancing the accounts. 2. Posting involves a. transferring information from the income statement to the statement of owner's equity. ld be b. transferring information from ledger to the journal. transferring information from the ledger to the balance sheet. d. transferring information from the journal to the ledger. С. 3. Which of the following is true concerning posting? a. The date of the transaction should be written in the account's Date column The page number of the journal should be written in the Post. Ref. column the b. unt he transaction should be recorded in either the debit or
Transcribed Image Text:nstruction: Encircle the letter of your choice. The transaction Name Date Score 1. The process of subtotaling both sides of an account and recording the amount on that side is known as footing. b. taking a trial balance. a. c. posting. d. balancing the accounts. 2. Posting involves a. transferring information from the income statement to the statement of owner's equity. ld be b. transferring information from ledger to the journal. transferring information from the ledger to the balance sheet. d. transferring information from the journal to the ledger. С. 3. Which of the following is true concerning posting? a. The date of the transaction should be written in the account's Date column The page number of the journal should be written in the Post. Ref. column the b. unt he transaction should be recorded in either the debit or
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