Accounting: 5-3 Post Entries to a General Ledger

What is the process of transferring transactions from a journal to a ledger called?

• Adjusting

• Recording

• Posting

• Analyzing

What is the ledger containing all of the accounts needed to prepare financial statements called?

• Worksheet

• Adjusting Entries

• Trial Balance

• General Ledger

What does it mean to 'post' a transaction in accounting?

• Analyze the transaction

• Record the transaction

• Transfer the transaction from journal to ledger

• Prepare financial statements

What is the purpose of the Posting Reference in the ledger?

• Identify the transaction date

• Record the account number

• Calculate the account balance

• Connect the journal entry and the corresponding posting in the ledger

What is the process of ensuring the bank account balance agrees with the cash accounting records called?

• Posting to the General Ledger

• Adjusting Entries

• Recording Transactions

• Proving Cash

What is the account with the largest number of transactions in a business?

• Accounts Payable

• Cash

• Inventory

• Accounts Receivable

What is the balance in the Cash account ledger for RockHill Media on March 31, 2022?

• $2,625

• $4,285

• $5,500

• $75

What is the account number for the Cash ledger account?

• 410

• 310

• 210

• 110

What is the account balance for the Accounts Payable ledger account after posting Transaction 6 Debit?

• $2,625 in the debit column

• $75 in the debit column

• $745 in the credit column

• $820 in the credit column

What is the account balance for the Cash ledger account after posting Transaction 6 Credit?

• $820 in the credit column

• $2,625 in the debit column

• $745 in the debit column

• $75 in the credit column