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I would post first all assets
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∙ 11y ago
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The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
What items go directly to the general ledger without sub ledger posting?
accrued accounts
The process of transferring the debits and credits from the journal to the ledger accounts is called?
posting
What are the key rules of ledger posting and balancing accounts?
it is based on dual aspects of accounting
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
The process of posting is associated most closely with the?
transferring journal entries to ledger accounts
What items go directly to the general ledger without sub ledger posting?
accrued accounts
The process of transferring the debits and credits from the journal to the ledger accounts is called?
posting
What are the key rules of ledger posting and balancing accounts?
it is based on dual aspects of accounting
When are posts to ledger accounts made?
Posting to ledger accounts may be less frequent, perhaps at the end of each day, at the end of the week, or possibly even at the end of the month.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
What are the rules for posting the cash payment journal to the ledger?
credit bank, debit all contra accounts :)
What are general ledger accounts?
he general ledger is a collection of the firm's accounts. While the general journal is organized as a chronological record of transactions, the ledger is organized by account. In casual use the accounts of the general ledger often take the form of simple two-column T-accounts. In the formal records of the company they may contain a third or fourth column to display the account balance after each posting.
What is posting in accounting?
Posting is recording in the ladgers information from journal. Posting is always from journal.
After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?
2
When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?
2
How is subsidiary ledger different to the general ledger?
A subsidiary ledger is a group of similar accounts whose combined balances equal the balance in a specific general ledger account. The general ledger account that summarizes a subsidiary ledger's account balances is called a control account or master account. For example, an accounts receivable subsidiary ledger (customers' subsidiary ledger) includes a separate account for each customer who makes credit purchases. The combined balance of every account in this subsidiary ledger equals the balance of accounts receivable in the general ledger. Posting a debit or credit to a subsidiary ledger account and also to a general ledger control account does not violate the rule that total debit and credit entries must balance because subsidiary ledger accounts are not part of the general ledger; they are supplemental accounts that provide the detail to support the balance in a control account.
