Posting and trial balance Flashcards
1
Q
Record of Transactions is…
A
Journal
2
Q
Collection of accounts
A
Ledger
3
Q
Copying data from the journal to ledger
A
Posting
4
Q
What is posting?
A
Process of moving balances from general journal to general ledger.
5
Q
Side of the account where increases are recorded
A
Normal balance
6
Q
Assets - liabilities
A
Equity
7
Q
What lists all ledger accounts and their balances?
A
Trial Balance
8
Q
What moves from the general ledgers to the unadjusted trial balance?
A
Normal Balance from ledger accounts
9
Q
The general journal is the _____ for creating the general ledger
A
Instructions
10
Q
The trial balance can show an error but can’t _____ the error
A
Identify
