Question 1

An account number in the journal's Post. Ref. column shows

Accepted Answer

A)  the date of the entry. 
B)  that work on that journal page is completed. 
C)  the account to which an amount is posted. 
D)  none of these. 
A)  the date of the entry. 
B)  that work on that journal page is completed. 
C)  the account to which an amount is posted. 
D)  none of these. C

Question 2

The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.

Accepted Answer

A) True 
 B)False  True

Question 3

With the exception of the total lines, the Post. Ref. column of the journal is completely filled in with either an account number or a check mark.

Accepted Answer

A) True 
 B)False  True

Question 4

The first digit in the account number 520 means that the account is in the

Accepted Answer

A)  expense division of the general ledger. 
B)  revenue division of the general ledger. 
C)  liability division of the general ledger. 
D)  asset division of the general ledger. 
A)  expense division of the general ledger. 
B)  revenue division of the general ledger. 
C)  liability division of the general ledger. 
D)  asset division of the general ledger.

Question 5

A group of accounts is called a ledger.

Accepted Answer

A) True 
 B)False

Question 6

Separate amounts in general amount columns are posted individually.

Accepted Answer

A) True 
 B)False

Question 7

If the payment of cash for rent was journalized and posted in error as a debit to Miscellaneous Expense instead of Rent Expense, the correcting entry will include a credit to Cash.

Accepted Answer

A) True 
 B)False

Question 8

If both amounts on a journal line are recorded in special amount columns,

Accepted Answer

A)  only one of the amounts is posted individually. 
B)  neither amount is posted individually. 
C)  both amounts are posted individually. 
D)  all of these. 
A)  only one of the amounts is posted individually. 
B)  neither amount is posted individually. 
C)  both amounts are posted individually. 
D)  all of these.

Question 9

Separate amounts in a journal's special amount columns are posted individually.

Accepted Answer

A) True 
 B)False

Question 10

Posting references in a journal are

Accepted Answer

A)  the first item recorded when posting. 
B)  always placed in an account's Post. Ref. column. 
C)  not necessary. 
D)  none of these. 
A)  the first item recorded when posting. 
B)  always placed in an account's Post. Ref. column. 
C)  not necessary. 
D)  none of these.

Question 11

A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.

Accepted Answer

A) True 
 B)False

Question 12

If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit.

Accepted Answer

A) True 
 B)False

Question 13

The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is known as file maintenance.

Accepted Answer

A) True 
 B)False

Question 14

If posting is interrupted, the accounting personnel know to resume posting

Accepted Answer

A)  on the line with a blank Post. Ref. column in the journal. 
B)  at the beginning of the journal page. 
C)  the next day. 
D)  all of these. 
A)  on the line with a blank Post. Ref. column in the journal. 
B)  at the beginning of the journal page. 
C)  the next day. 
D)  all of these.

Question 15

A check mark in parentheses below a General Debit column total indicates that the total is not posted.

Accepted Answer

A) True 
 B)False

Question 16

The two steps for opening an account are writing the account title and recording the balance.

Accepted Answer

A) True 
 B)False

Question 17

The column total of the General Credit column is posted.

Accepted Answer

A) True 
 B)False

Question 18

Only the column totals for special amount columns in a journal are posted.

Accepted Answer

A) True 
 B)False

Question 19

All corrections for posting errors should be made in a way that leaves no question as to the correct amount.

Accepted Answer

A) True 
 B)False

Question 20

The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.

Accepted Answer

A) True 
 B)False

Exam 4: Posting to a General Ledger

An account number in the journal's Post. Ref. column shows

The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.

With the exception of the total lines, the Post. Ref. column of the journal is completely filled in with either an account number or a check mark.

The first digit in the account number 520 means that the account is in the

A group of accounts is called a ledger.

Separate amounts in general amount columns are posted individually.

If the payment of cash for rent was journalized and posted in error as a debit to Miscellaneous Expense instead of Rent Expense, the correcting entry will include a credit to Cash.

If both amounts on a journal line are recorded in special amount columns,

Separate amounts in a journal's special amount columns are posted individually.

Posting references in a journal are

A check mark in the Post. Ref. column of the journal indicates that the amounts on that line are not posted individually.

If the previous account balance and the current entry posted to an account are both debits, the new account balance is a debit.

The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is known as file maintenance.

If posting is interrupted, the accounting personnel know to resume posting

A check mark in parentheses below a General Debit column total indicates that the total is not posted.

The two steps for opening an account are writing the account title and recording the balance.

The column total of the General Credit column is posted.

Only the column totals for special amount columns in a journal are posted.

All corrections for posting errors should be made in a way that leaves no question as to the correct amount.

The posting reference should always be recorded in the journal's Post. Ref. column before amounts are recorded in the ledger.

The Accounting Equation

Debit and Credit Parts

Journalizing Transactions

Cash Control Systems

Work Sheet and Adjusting Entries

Financial Statements for a Proprietorship

Closing Entries and Post-Closing

Accounting for Purchases and Cash Payments

Accounting for Sales and Cash Receipts

Using a General Journal

Preparing Payroll Records

Accounting for Payroll and Payroll Taxes

Uncollectible Accounts Receivable

Adjusting Entries and a Trial Balance

Financial Statements and Closing Entries

Financial Statement Analysis

Acquiring Capital for Growth and Development

Plant Assets and Intangible Assets

Accounting for Inventory

Accruals, Deferrals, and Reversing Entries

End-Of-Fiscal-Period Work for a Corporation

Accounting for Partnerships

Recording International and Internet Sales

Service Business Organized As a Proprietorship

Merchandising Business As a Corporation

Additional Accounting Procedures

Filters