Showing posts with label general ledger. Show all posts
Showing posts with label general ledger. Show all posts

Friday, October 9, 2020

A debit in a journal entry is always posted to the general ledger as a(n):

A debit in a journal entry is always posted to the general ledger as a(n):


A) Increase.

B) Credit.

C) Decrease.

D) Debit.


Answer: D


Posting is the process of:


A) Analyzing the impact of the transaction on the accounting equation.

B) Obtaining information about external transactions from source documents.

C) Transferring the debit and credit information from the journal to individual accounts in the general ledger.

D) Listing all accounts and their balances at a particular date.


Answer: C


Posting transactions to T-accounts involves:


A) Analyzing source documents to determine the effects of transactions on the company's accounts.

B) Listing all accounts and their balances at a particular date to ensure that debits equal credits.

C) Preparing a chronological record of all transactions affecting the company.

D) Transferring debit and credit information from the journal to the accounts in the general ledger.


Answer: D