Exam 3: The General Journal and the General Ledger

The chart of accounts for Mira Delivery Service is as follows: Mira Delivery Service completed the following transactions during May: Instructions: Journalize the transactions for May, including a brief explanation for each entry.

Cave Man Company received cash revenue, $3,500. The accountant would record the following journal entry:

Accidentally recording the $300 debit of a transaction twice and the credit only once will cause the trial balance totals to differ by $300.

Apple Company purchased $6,000 in equipment, paying $2,000 in cash and placing the remainder on account. The accountant would record the following journal entry:

The manual ruling method of correcting errors can be used before or after an entry has been posted.

For a journal entry to be complete, it must contain

____________ furnish proof that a transaction has taken place.

Homer Services pays the monthly rent, $5,000. The transaction would involve a

The chart of accounts for Samuel's Trucking Company is as follows: Samuel's trucking Company completed the following transactions in October: Instructions: Journalize the transactions for October using quality format on page 2 of the journal and post to appropriate ledger accounts.

The process of transferring account amounts from the book of original entry to the general ledger is called posting.

Which of the following is true concerning posting?

A _________ is a book in which business transactions are recorded.

An accountant wanting to know the balance of a particular account would refer to the

Vegas Company paid on account for advertising expenses, $900. The accountant would record the following journal entry:

If an entry is recorded twice, the error will show up in the trial balance.