Exam 4: The General Journal and the General Ledger

Antonio Baldez operates a delivery service.During the month of April,the firm had the following transactions.Record these transactions on page 5 of a general journal.Omit the descriptions.

On December 10,Yummy Catering purchased a new oven costing $10,000.They issued a check a check for $2,000 and promised to pay the balance in 30 days.The journal entry to record this transaction is:

The balance ledger form always shows the current balance of an account.

The journal entry to record the payment of salaries should include

For each of the accounts listed below,enter the words,Increase or Decrease,the Debit and Credit columns to indicate the effects of each on the account balance.

On December 1,the Accounts Receivable account had a $5,000 balance.The business received $400 during the month from its charge-account customer.After posting this transaction,the new balance in the Accounts Receivable account is

The ledger is referred to as the record of ____________________ entry.

Account names are written in the general journal exactly as they appear in the chart of accounts.

Lourdes Yabar opened a computer repair business on May 1,2016.During the first month of operations,the firm had the following transactions.Record these transactions on page 1 of the general journal.Omit the descriptions.Set up a Cash general ledger account and post the appropriate transactions to this account,account 101.

Indicate how each of the following would be reflected in the journal entry required to record the effects described by using debit or credit to indicate the increase or decrease in each affected account.

The journal entry to record the payment of salaries for the month is:

Posting references provide a useful cross-reference when entries must be traced and verified.

The general ledger accounts are usually arranged in the following order:

A firm purchased telephone equipment for cash.By mistake,the person who recorded the transaction debited Utilities Expense instead of Office Equipment.The error was discovered after the data posted.The correcting entry should contain

The journal entry to record the withdrawal of cash by Sue Snow,the owner,to pay a personal utility bill would include

For each of the accounts listed below,enter the words,Increase or Decrease,the Debit and Credit columns to indicate the effects of each on the account balance.The first row has been completed for reference.

The following errors in recording the transactions for December were discovered in the general journal the next month after the data had been posted to the ledger.Record the necessary correcting entries on page 12 of a general journal.Omit the descriptions.

Global Delivery opened for business on July 1,2016.The company uses the general ledger accounts listed below.During the first month of business,the firm had the transactions listed below.Record the transactions on page 1 of a general journal.Omit descriptions.Set up a Cash general ledger account and post the appropriate transactions to this account,account 101.

The owner of the business would like to see both the debit and credit entry for a specific transaction,he would look in

The process of recording transactions in a journal is referred to as ____________________.