Exam 4: Posting to a General Ledger

The only use for the Post. Ref. column of a journal and general ledger is to indicate which entries in the journal still need to be posted if posting is interrupted.

The procedure for transferring information from a journal entry to a ledger account is

Errors discovered after an entry is posted may be corrected by ruling through the item.

If an error requires a correcting entry, the source document describing the correction to be made

The steps for posting are to write the date, the journal page number, the amount, and the balance.

When accounts are arranged in a general ledger, account numbers are assigned, and the chart of accounts is kept up to date, the accounting personnel are

The Cash account is the first asset account and is numbered 110.

The last step in the posting procedure is to write the

The second step in the posting procedure is to write the

When adding a new expense account between accounts numbered 510 and 520, the new account is assigned the account number 515.