Posting Journal Entries Chapter 7 Accounting Jeopardy By Paul K. & Chris R. Mr. Lyman’s Class © January 2003
Posting Journal Entries Chapter 7 Accounting Jeopardy By Paul K. & Chris R. Mr. Lyman’s Class © January 2003.
Dec 15, 2015
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Posting Journal Entries Chapter 7 Accounting Jeopardy
Posting Journal Entries Chapter 7 Accounting Jeopardy
By Paul K. & Chris R.Mr. Lyman’s Class © January 2003
Posting Journal Entries JeopardyPosting Journal Entries Jeopardy
General Ledger
The Posting Process
Preparing Trial Balance Finding Errors
100 100 100 100200 200 200 200300 300 300 300400 400 400 400500 500 500 500
CreditsCredits
Questions taken from Glencoe Accounting First-Year Course.
Typing Done by Paul Kirk.Questions and answers found by
Christopher T Riding.Exit
General Ledger $100General Ledger $100
Step 4 in the accounting cycle.
General Ledger $100General Ledger $100
What is posting to the general ledger?
General Ledger $200General Ledger $200
The Ledger Account Form.
General Ledger $200General Ledger $200
What is the accounting stationery or form used to record financial information?
General Ledger $300General Ledger $300
(1) Write the account name at the top of the ledger account form.
(2) Write the account number on the ledger account form.
General Ledger $300General Ledger $300
What are the two steps required to open an account with a zero balance?
General Ledger $400General Ledger $400
Assets = Liabilities + Owner’s Equity
General Ledger $400General Ledger $400
What is the basic accounting equation?
General Ledger $500General Ledger $500 (1) Write the account name at the top of the ledger account form. (2) Write the account number on the ledger account form. (3) Enter the complete date (year, month, and day) in the date
column. (4) Write the word “Balance” in the Description column. (5) Place a check mark ( ) in the Posting Reference column to show
the amount entered on this line is not being posted from a journal. (6) Enter the balance in the appropriate balance column of the
ledger account form. Usually asset, expense and owner’s withdrawals accounts have debit balances. Liability, owner’s capital, and revenue accounts have credit balances.
General Ledger $500General Ledger $500
What are the six steps to open an account with a balance?
The Posting Process $100The Posting Process $100
Fourth Step in the accounting cycle.
The Posting Process $100The Posting Process $100
What is the posting process?
The Posting Process $200The Posting Process $200
Account numbers that start with 1.
The Posting Process $200The Posting Process $200
What number starts the numbering of asset accounts?
The Posting Process $300The Posting Process $300
A line across the center of the column.
The Posting Process $300The Posting Process $300
What is the correct procedure to show a zero balance in a ledger account?
The Posting Process $400The Posting Process $400
Preparing a Trial Balance step.
The Posting Process $400The Posting Process $400
What is the fifth step in the accounting cycle?
The Posting Process $500The Posting Process $500
Posting Organizes business transaction details into the proper accounts.
The Posting Process $500The Posting Process $500
What is the importance of Posting?
Preparing Trial Balance $100Preparing Trial Balance $100
The Fifth Step in the Accounting Cycle.
Preparing Trial Balance $100Preparing Trial Balance $100
What is the Trial Balance?
Preparing Trial Balance $200Preparing Trial Balance $200
Adding all the debit balances, then adding all the credit balances, and finally comparing the two totals.
Preparing Trial Balance $200Preparing Trial Balance $200
What are the steps to proving the ledger?
Preparing Trial Balance $300Preparing Trial Balance $300
Trial Balance
Preparing Trial Balance $300Preparing Trial Balance $300
What is a formal way or way to prove that debits equal credits?
Preparing Trial Balance $400Preparing Trial Balance $400
Two Column accounting stationery or form.
Preparing Trial Balance $400Preparing Trial Balance $400
What is the paper that the trial balance is prepared on?
Preparing Trial Balance $500Preparing Trial Balance $500
Error in a journal entry that is not posted.
Error in posting to the ledger when the journal entry is correct.
Error in a journal entry that is posted.
Preparing Trial Balance $500Preparing Trial Balance $500
What are some common types of errors found in accounting?
Finding Errors $100Finding Errors $100
Correcting Entry.
Finding Errors $100Finding Errors $100
What is the step to fix an error that has been posted?
Finding Errors $200Finding Errors $200
“To err is human…”
Finding Errors $200Finding Errors $200
Why are mistakes found in accounting?
What is a philosophical statement found under the correcting entry heading?
Finding Errors $300Finding Errors $300
Transposition error.
Finding Errors $300Finding Errors $300
What is the type of error called when two digits within an amount are accidentally reversed?
Finding Errors $400Finding Errors $400
Slide Error.
Finding Errors $400Finding Errors $400
What is the error called when a decimal point is moved by mistake?
Finding Errors $500Finding Errors $500
Finding errors and making sure they are fixed.
Finding Errors $500Finding Errors $500
What is Good Accounting Etiquette?
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