Accounting Study Guide 4

account number
the number assigned to an account

correcting entry
a journal entry made to correct an error in a previous journal entry

file maintenance
the procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current

general ledger
a ledger that contains all accounts needed to prepare financial statements

ledger
a group of accounts

opening an account
writing an account title and number on the heading of an account

posting
transferring information from a journal entry to a ledger account

proving cash
determining that the amount of cash agrees with the balance of the cash account in the accounting records

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