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Chapter Five 7 Words
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Ledger
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A group of accounts
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General Ledger
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A ledger that contains all accounts needed to prepare financial statements
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Account Number
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The number assigned to an account
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File Maintenance
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The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
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Opening an Account
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Writing an account title and number on the heading of an account
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OPENING AN ACCOUNT IN A GENERAL LEDGER
1 2 1. Write the account title. 2. Write the account number. Lesson 5-1, page 99
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Posting
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Transferring information from a journal entry to a ledger account
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Proving Cash
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Comparing Cash balance with checkbook balance
(they should equal!) (Can be done at any time)
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Do you know? How to Create a Chart of Accounts?
How to Post from the Journal to the ledger (4 steps) What a post reference number? how to add and subtract in a general ledger? How to prove cash?
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