Chapter 2, Problem 3E

To determine

General Ledger:

The general ledger records all accounts relevant to depict its assets, liabilities, and equities along with the incomes, expenses, and losses etc in a summarized form. It includes the debit and credit values of all the accounts, of which both, the total of all debit values and credit values should equalize. All the accounts are allotted a unique identifying numbers of the account to be more record friendly for its end users in later stages of preparation of financial statements.

Chart:

A chart of accounts is a list form of all the accounts appearing in the General Ledger of the company. Each account is listed with its unique identification number which is allotted on the basis of the nature of accounts in the General Ledger.

The items that best completes the descriptions below.