Answered: The process of transferring journal…

The process of transferring journal entries to the ledger accounts is called:a) Postingb) Adjustingc) Balancingd) Closing

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 14GI

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Question

The process of transferring journal entries to the ledger accounts is called:
a) Posting
b) Adjusting
c) Balancing
d) Closing

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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