Chapter 2 General Ledger Service Business – Flashcards
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Input Form
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a form used to organize and record transactions data before entering he data into the computer
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Sole Proprietorship
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a business owned by one person
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Account Maintence
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the process of keeping a business's chart of accounts up to date by adding new accounts, changing titles of existing accounts, and deleting inactive accounts.
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journal
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a record of the debit and credit parts of each transaction that is recorded in a date sequence.
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Posting
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process of updating the ledger account balances with all debits and credits affecting each account
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General Ledgar Input Form
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a form with two amounts columns that is used to organize and record accounting transaction data that is used to organize and record accounting transaction before entering data at the computer
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General Journal Tab
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a set of grid cells within the journal entries window that is used to enter and post journal entries and to make corrections to or delete existing journal entries.
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General Journal Report
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a display or printout of the general journal that is useful in detecting errors and verifying the equality of debits and credits
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Graph
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a pictorial representation of data that can be depicted on a computer screen or printed.
