1. First exercise of the day to start a new chapter in Mrs. Cleary’s accounting class. Complete the following: 1.) Write your name on a sheet of paper. 2.) Do not start until I say the word go. 3.) Fold the paper in half. 4.) Stand up and clap your hands. 5.) Recite the accounting equation.

2. Chapter 7 - Posting Journal Entries to General Ledger Accounts Accounting Cleary

3. Posting - The fourth step in the accounting cycle The process of transferring information from the journal to individual general ledger accounts. Posting updates account balances into useful information.

4. General Ledger General Ledger - is a permanent record organized by account number. Sometimes called the book of final entry.

5. Computing a New Account Balance A rule of thumb for finding a new balance Debits are added to debits Credits are added to credits Debits and credits are subtracted.

6. Showing a Zero Balance in a Ledger Account To show a zero balance after you post a transaction, draw a line across the center of the column - where the normal balance would appear.

7. Preparing a Trial Balance - The Fifth Step in the Accounting Cycle After the journal entries have been posted to the accounts in the general ledger - the total of all debit balances should equal the total of all credit balances. Comparing the two totals to see if they are equal is called proving the ledger.

8. Finding and Correcting Errors Cleary

9. Transposition Error Occurs when two digits within an amount are accidentally reversed, or transposed. For example, the amount $325 may have been written as $352. You can check to see if the amount that you are out of balance is evenly divisible by 9.

10. Slide Error Occurs when a decimal point is moved by mistake. Example - If you write $1,800 as either $180 or $18,000, you made a slide error.

11. Find an Error Check the trial balance amounts against the general ledger account balances to make sure you copied the balances correctly.