Chapter 04—Posting to a General Ledger

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

• True

• False

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

• True

• False

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

• True

• False

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

• True

• False

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

• True

• False

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

• True

• False

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

• True

• False

The column total of the General Credit column is posted.

• True

• False

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

• True

• False

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

• True

• False