Ledger and General Journal

Acct 11 Chp. 7 Review 1. Complete the following sentences by inserting the correct word or words in the blanks. forwarding erase ledger balance column page manber a)The most commonly used form of ledger account is the account. biln the posting reference (PR) column of the account, the accountant writes the of the journal c)The process of transferring certain information from the bottom of the completed page to the top of a new page is called dj Over the years, professional accountants have made it a rule never to in the books of account ellt is customary to number the accounts in the so they are easier to identify. 2. When examining a general journal, how can an accountant tell if an entry has been posted? 3. Complete the following chart to show the effect of errors on a trial balance. Trial balance will not balance Trial balance will Debits greater Credits greater balance but will not than credits by than debits by be correct Error Situation (5) 1. An $80 debit is posted as $800. 2. An entire general journal entry for S $80 is not posted 3. The Wages Expense account balance of $22 000 is listed on the trial balance as a credit 4. An entire general journal entry for S $200 is posted in reverse, that is, the debit amount was posted to the credit account, and the credit amount was posted to the debit account. 5. A $500 credit is posted as a debit. S S 6. The Bank account is understated by $160. 7. The Drawings account balance of S S $3 500 is listed on the trial balance as a credit 6. In the account below, complete the Debit Credit and Balance columns. ACCOUNT A/R-Ann Wood NO. 109 DATE PARTICULARS P.R DEBIT CREDIT Dr/Cr BALANCE Ju J17 9 7 5 5 J22 24 J25 40 0 8. On April 18, 20-, an accounting clerk discovered that a purchase invoice for $400 was credited to the wrong account payable. This invoice was from McKill Marketing, but had been credited to A/P-Murray's Stationery. Prepare a correcting entry below. GENERAL JOURNAL PAGE DATE PARTICULARS PR. DEBIT CREDIT