book of original entry – Flashcards
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chart of accounts (87)
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A list of all accounts used by a business.
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compound entry (93)
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A general journal entry that affects more than two accounts.
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correcting entry (104)
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An entry to correct that an incorrect entry that has been journalized by posted to the wrong account.
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cross-reference (97)
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The information in the Posting Reference columns of the journal and ledger that provides a link between the journal and ledger.
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General Ledger (95)
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A complete set of all the accounts used by a business. The general ledger accummulates a complete record of the debits and credits made to each account as a result of entries made in the journal.
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Book of Original Entry (90)
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The journal of the first formal accounting record of a transaction.
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general ledger account (95)
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An account with columns for the debit or credit transaction and columns for the debit or credit running balance.
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Journal (90)
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A day-by-day listing of the transactions of a business.
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Journalizing (90)
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Entering the transactions in a journal.
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Posting (96)
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Copying the debits and credits from the journal to the ledger account.
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Ruling method (103)
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A method of correcting an entry in which a line is drawn through the error and the correct information is placed above it.
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slide error (103)
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An error that occurs whin debit or credit amounts "slide" a digit or two to the left or right.
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source document (88)
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Any document that provides information about a business transaction.
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transposition error (103)
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An error that occurs when two digits are reversed.
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trial balance (102)
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A list used to prove that the totals of the debit are credit balance in the ledger accounts are equal.
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two-column general account (90)
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A journal with only two amount columns, one for debit amounts and one for credit amounts.
