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7 Cards in this Set
- Front
- Back
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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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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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Posting
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Transferring information from a journal entry to a ledger account
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Correcting Entry
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Necessary entry at the end of the reporting period to record unrecognized revenue and expenses applicable that period
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