College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Textbook Question
Chapter 3, Problem 4QY
The __________ is used to determine where the amount in the ledger comes from.
- a. debit amount
- b. posting reference (or cross-reference)
- c. journal
- d. none of the above
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Which of the following is not transferred from the journal to the ledger in the posting process?
a.Date
b.Explanation
c.Debit and credit
d.Amount
The process of transferring the debits and credits from the journal entries to the accounts is called
A. sliding
B. transposing
C. posting
Which item will appear on the credit side of the ledger account?
a.
Salary
b.
Drawings
c.
Service revenue
d.
Accounts receivable
Chapter 3 Solutions
College Accounting (Book Only): A Career Approach
Ch. 3 - A __________ is a book in which business...Ch. 3 - Transferring information from the journal to the...Ch. 3 - For a journal entry to be complete, it must...Ch. 3 - The __________ is used to determine where the...Ch. 3 - Prob. 5QYCh. 3 - A 250 payment for salaries expense was incorrectly...Ch. 3 - Prob. 1DQCh. 3 - How does the journal differ from the ledger?Ch. 3 - What is the purpose of providing a ledger account...Ch. 3 - List by account classification the order of the...
Ch. 3 - Arrange the following steps in the posting process...Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - In the following two-column journal, the capital...Ch. 3 - Decor Services completed the following...Ch. 3 - Montoya Tutoring Service completed the following...Ch. 3 - Prob. 4ECh. 3 - Arrange the following steps in the posting process...Ch. 3 - The bookkeeper for Nevado Company has prepared the...Ch. 3 - Determine the effect of the following errors on a...Ch. 3 - Journalize correcting entries for each of the...Ch. 3 - The chart of accounts of the Barnes School is...Ch. 3 - Laras Landscaping Service has the following chart...Ch. 3 - Following is the chart of accounts of Sanchez...Ch. 3 - The chart of accounts of Ethan Academy is shown...Ch. 3 - Leanders Landscaping Service maintains the...Ch. 3 - Following is the chart of accounts of Smith...Ch. 3 - Why Does It Matter? ECOTOUR EXPEDITIONS, INC.,...Ch. 3 - What Would You Say? You are the new bookkeeper for...Ch. 3 - What Do You Think? You work as an accounting...Ch. 3 - What Would You Do?
You are responsible for...Ch. 3 - Prob. 1CP
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- The statement that is NOT CORRECT about the general ledger is __________ . a. postings are based on source documents. b. the T-account format or ledger running balance format may be adopted. c. It follows the sequence of the accounts in the chart of accounts. d. the opening balances are entered before posting current transaction entries.arrow_forward_____________________best describes the classification and normal balance of the accounts receivable account?arrow_forwardWhich item will appear on the credit side of ledger account? Select one: a. Rent expense b. Purchases c. Sales d. Cash receivedarrow_forward
- Which is not a book reconciling items? A. Credit Memo B. NFS Checks C. Debit Memo D. Outstanding Checksarrow_forwardHow the GL accounts are arranged? O alphabetically arranged according to chart of accounts arrangement according to amount according to the whim of the bookkeeperarrow_forwardWhich of the following statements regarding the balance ledger form is inaccurate? It displays multiple accounts within a single form. It shows the balance of the account after each entry is posted It is one of a number of types of general ledger accounts forms Or It includes a posting reference column and a description columnarrow_forward
- Which record is not usually maintained under the single entry bookkeeping system? a. cash book b. general journal c. Accounts receivable subsidiary ledger d. property subsidiary ledger e. answer not givenarrow_forwardIdentify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts: __________ Accounts Receivable. __________Equipment.arrow_forwardWhat is the process of transferring the debits and credits from the journal entries to the accounts in the ledger called? Group of answer choices journalizing ledgering posting chartingarrow_forward
- The General Ledger Question: What does the general ledger debit/credit account number mean? It is usually entered in the journal reference column. Please Explain.arrow_forwardLabel the blanks in the column heads as either Debit or Credit.arrow_forwardWhich of these accounts commonly requires both debit and credit entries? A. Sales Revenue B. Utilities Expense C. Accounts Receivable D. Common Stockarrow_forward
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