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8 terms

Chapter 5

STUDY
PLAY
Ledger
A group of accounts.
General Ledger
Ledger containing all accounts needed to prepare financial statements.
Account Number
The number assigned to an account.
File Maintenance
The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current.
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.
Correcting Entry
A journal entry made to correct an error in the ledger.