Deck 4: Posting to a General Ledger

Question 1

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

Answer 1

True

Question 2

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

Answer 2

True

Question 3

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

Answer 3

True

Question 4

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

Question 5

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

Question 6

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

Question 7

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

Question 8

The column total of the General Credit column is posted.

Question 9

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

Question 10

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

Question 11

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.

Question 12

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

Question 13

Separate amounts in general amount columns are posted individually.

Question 14

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

Question 15

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

Question 16

A group of accounts is called a ledger.

Question 17

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.

Question 18

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.

Question 19

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

Question 20

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

Question 21

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

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 22

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

A) posting.
B) journalizing.
C) doing file maintenance.
D) none of these.

Question 23

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

A) posting.
B) journalizing.
C) file maintenance.
D) none of these.

Question 24

The last step in the posting procedure is to write the

A) entry date in the Date column of the account.
B) journal page number in the Post. Ref. column of the account.
C) account number in the Post. Ref. column of the journal.
D) entry amount in the Debit or Credit column of the account.

Question 25

The second step in the posting procedure is to write the

A) entry date in the Date column of the account.
B) journal page number in the Post. Ref. column of the account.
C) account number in the Post. Ref. column of the journal.
D) entry amount in the Debit or Credit column of the account.

Question 26

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

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.

Question 27

Posting references in a journal are

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 28

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

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 29

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

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 30

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

A) depends on the type of error made.
B) is a check stub.
C) depends on the type of correcting entry.
D) is a memorandum.