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8 terms
Accounting Chapter 4
account number
correcting entry
file maintenance
general ledger
The number assigned to an account.
A journal entry made to correct an error in a previous journa…
The procedure for arranging accounts in a general ledger, ass…
A ledger that contains all accounts needed to prepare financi…
account number
The number assigned to an account.
correcting entry
A journal entry made to correct an error in a previous journa…
8 terms
Accounting Chapter 4 Terms
Ledger
General Ledger
Account Number
File Maintenance
Group of accounts
Ledger that contains all accounts needed to prepare financial…
Number assigned to account
Arranging accounts in a general ledger, assigning account num…
Ledger
Group of accounts
General Ledger
Ledger that contains all accounts needed to prepare financial…
10 terms
Accounting Chapter 4
The process of transferring the inform…
a group of accounts
a ledger that contains all accounts ne…
form used to record all information ab…
Posting
Ledger
General Ledger
Account
The process of transferring the inform…
Posting
a group of accounts
Ledger
7 terms
Accounting Chapter 4
Account Number
Correcting Entry
File Maintenance
General Ledger
The number assigned to an account.
A journal entry made to correct an error in a previous journa…
The procedure for arranging accounts in a general ledger, ass…
A ledger that contains all account needed to prepare financia…
Account Number
The number assigned to an account.
Correcting Entry
A journal entry made to correct an error in a previous journa…
8 terms
Accounting Chapter 4
ledger
general ledger
account number
file maintenance
A group of accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
ledger
A group of accounts
general ledger
A ledger that contains all accounts needed to prepare financi…
32 terms
Accounting Study Guide Chapter 4
Account number
Correcting entry
File Maintenance
General Ledger
The number assigned to an account
A journal entry made to correct an error in a previous journal
The procedure for arranging accounts in a general ledger, ass…
A ledger that contains all accounts needed to prepare financi…
Account number
The number assigned to an account
Correcting entry
A journal entry made to correct an error in a previous journal
7 terms
Chapter 4 Accounting Vocab
Ledger
General Ledger
Account number
File Maintenance
group of accounts
ledger that contains all accounts needed to prepare financial…
number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
Ledger
group of accounts
General Ledger
ledger that contains all accounts needed to prepare financial…
13 terms
Glencoe Accounting Chapter 4
ledger
chart of accounts
double-entry accounting
T Account
a book where you keep information by account
a list of all accounts and their assigned account number
a system of recordkeeping in which each business transaction…
an accounting tool that shows increases or decreases that are…
ledger
a book where you keep information by account
chart of accounts
a list of all accounts and their assigned account number
44 terms
Chapter 4 Accounting
Accounting Cycle
Audit Trail
Balance Ledger Form
Chronological Order
a series of steps performed during each accounting period to…
a chain of references that makes it possible to trace informa…
a ledger account form that shows the balance of the account a…
organized in the order in which the events occur
Accounting Cycle
a series of steps performed during each accounting period to…
Audit Trail
a chain of references that makes it possible to trace informa…
8 terms
Accounting Chapter 4 Vocabulary
account number
correcting entry
file maintenance
general ledger
the number assigned to an account
an additional journal entry, used to correct an incorrect jou…
the procedure for arranging accounts in a general ledger, ass…
a ledger that contains all accounts needed to prepare financi…
account number
the number assigned to an account
correcting entry
an additional journal entry, used to correct an incorrect jou…
7 terms
Accounting I - Chapter 4
account number
correcting entry
file maintenance
general ledger
the number assigned to an account
an additional journal entry, used to correct an incorrect jou…
the procedure for arranging accounts in a general ledger, ass…
a ledger that contains all accounts needed to prepare financi…
account number
the number assigned to an account
correcting entry
an additional journal entry, used to correct an incorrect jou…
7 terms
Accounting - Chapter 4
Account Number
Correcting Entry
File Maintenance
General Ledger:
The number assigned to an account.
A journal entry made to correct an error in a previous journa…
The procedure for arranging accounts in a general ledger, ass…
A ledger that contains all accounts needed to prepare financi…
Account Number
The number assigned to an account.
Correcting Entry
A journal entry made to correct an error in a previous journa…
18 terms
Accounting Chapter 4 Terms
Ledger
General Ledger
Account Number
File Maitenance
A group of accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts
General Ledger
A ledger that contains all accounts needed to prepare financi…
13 terms
Chapter 4 - Accounting Terms
entry
journal
special amount column
source document
Information for each transaction recorded in a journal.
A form for recording transactions in chronological order.
A journal amount column headed with an account title.
A business paper from which information is obtained for a jou…
entry
Information for each transaction recorded in a journal.
journal
A form for recording transactions in chronological order.
7 terms
Accounting Chapter 4
ledger
general ledger
account number
file maintenance
a group of accounts
a ledger that contains all accounts needed to prepare financi…
the number assigned to an account
the procedure for arranging accounts in a general ledger, ass…
ledger
a group of accounts
general ledger
a ledger that contains all accounts needed to prepare financi…
8 terms
Accounting Chapter 4 Terms
Ledger
General Ledger
Account Number
File Maintenance
Group of accounts
Ledger that contains all accounts needed to prepare financial…
Number assigned to account
Arranging accounts in a general ledger, assigning account num…
Ledger
Group of accounts
General Ledger
Ledger that contains all accounts needed to prepare financial…
9 terms
Accounting 1 Chapter 4
balance-ruled account form
ledger
general ledger
account title
form that has columns for the debit and credit balance
a group of accounts
a ledger that contains all accounts needed to prepare financi…
name given to an account
balance-ruled account form
form that has columns for the debit and credit balance
ledger
a group of accounts
8 terms
Accounting Chapter 4
Ledger
General Ledger
Account Number
File Maintenance
A group of accounts.
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account.
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts.
General Ledger
A ledger that contains all accounts needed to prepare financi…
8 terms
Accounting Chapter 4
Account Number
Correcting entry
File maintenance
General Ledger
The number assigned to an account.
An additional journal entry made to correct an incorrect jour…
The procedure for arranging accounts in a general ledger, ass…
a ledger that contains all accounts needed to prepare to prep…
Account Number
The number assigned to an account.
Correcting entry
An additional journal entry made to correct an incorrect jour…
8 terms
Accounting- Chapter 4
Ledger
General Ledger
Account Number
File Maintenance
A group of accounts.
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account.
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts.
General Ledger
A ledger that contains all accounts needed to prepare financi…
45 terms
Accounting Chapter 4
journal
balanced-ruled account forms
ledger
general ledger
A permanent record of the debit and credit parts of each tran…
Account forms that have columns for debit and credit balances
A group of accounts
A ledger that contains all accounts needed to prepare financi…
journal
A permanent record of the debit and credit parts of each tran…
balanced-ruled account forms
Account forms that have columns for debit and credit balances
13 terms
Accounting - Chapter 4
Ledger
General Ledger
Account Number
File Maintenance
A group of accounts.
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account.
The procedure for arranging accounts in a general ledger, ass…
Ledger
A group of accounts.
General Ledger
A ledger that contains all accounts needed to prepare financi…
14 terms
Accounting Chapter 4
journal
journalizing
special amount column
general amount column
a form for recording transactions in chronological order
recording transactions in a journal
a journal amount column headed with an account title
a journal amount column that is not headed with an account…
journal
a form for recording transactions in chronological order
journalizing
recording transactions in a journal
26 terms
College Accounting-Chapter 4
Depreciation
Indirect Labor
Incremental Revenue
Product Cost
The cost of a long-term asset spread over the period the asse…
The cost of production employees who do not physically manufa…
The additional revenue associated with an alternative.
A cost that is incurred to obtain or manufacture a product.
Depreciation
The cost of a long-term asset spread over the period the asse…
Indirect Labor
The cost of production employees who do not physically manufa…
12 terms
Chapter 4 Accounting
chart of accounts
ledger(general ledger)
1
2
A list of all accounts used by a business.
Where all accounts are grouped together.
Asset accounts begin with this number.
Liability accounts begin with this number.
chart of accounts
A list of all accounts used by a business.
ledger(general ledger)
Where all accounts are grouped together.
8 terms
Chapter 4 Accounting Terms
ledger
account number
correcting entry
file maintenance
A group of accounts
The number assigned to an account.
A journal entry made to correct an error in a previous journa…
The procedure for arranging accounts in a general ledger, ass…
ledger
A group of accounts
account number
The number assigned to an account.
24 terms
Accounting Terminology: Chapter 4
Accrue
Accumulated Depreciation
Adjusting Entries
Adjusted Trial Balance
To grow or accumulate over time... - Ex. interest expense
A contra asset account... Shown as a deduction from the related…
Entries made at the end of the accounting period for the purp…
A schedule indicating the balances ledger accounts after end-…
Accrue
To grow or accumulate over time... - Ex. interest expense
Accumulated Depreciation
A contra asset account... Shown as a deduction from the related…
11 terms
Accounting Terms Chapter 4
Check
Double-entry Accounting
Entry
General Journal
Business form for ordering a bank to pay cash from a bank acc…
Recording of debit and credit part of transactions
Information for each transaction recorded in a journal
A journal with 2 amount columns in which all kinds of entries…
Check
Business form for ordering a bank to pay cash from a bank acc…
Double-entry Accounting
Recording of debit and credit part of transactions
27 terms
Accounting I Chapter 4
Ledger
General Ledger
Account number
Account title
a group of accounts
A ledger that contains all accounts needed to prepare financi…
The number assigned to an account
the name given to an account
Ledger
a group of accounts
General Ledger
A ledger that contains all accounts needed to prepare financi…
11 terms
Accounting Chapter 4
Accrued Expenses
Accrued Revenues
Adjusting Entries
Closing Entry
Previously unrecorded expenses that need to be adjusted at th…
Previously unrecorded revenues that need to be adjusted at th…
Entries necessary at the end of the accounting period to meas…
Made at the end of the accounting period to transfer balances…
Accrued Expenses
Previously unrecorded expenses that need to be adjusted at th…
Accrued Revenues
Previously unrecorded revenues that need to be adjusted at th…
12 terms
Accounting Chapter 4
balance-ruled account... form
ledger
general ledger
account title
a form that has columns for the debit and credit... balance,
A group of accounts
ledger that... contains all accounts needed to prepare financial…
The name given to an... account
balance-ruled account... form
a form that has columns for the debit and credit... balance,
ledger
A group of accounts
13 terms
Accounting Chapter 4
ledger
chart of accounts
double-entry accounting
T Account
a book where you keep information by account
a list of all accounts and their assigned account number
a system of recordkeeping in which each business transaction…
an accounting tool that shows increases or decreases that are…
ledger
a book where you keep information by account
chart of accounts
a list of all accounts and their assigned account number
13 terms
Accounting Chapter 4
Check
double-entry accounting
entry
general amount column
A business form ordering a bank to pay cash from a bank account
The recording of debit and credit parts of a transaction
Information for each transaction recorded in a journal
a journal amount column that is not headed with an account ti…
Check
A business form ordering a bank to pay cash from a bank account
double-entry accounting
The recording of debit and credit parts of a transaction
20 terms
Accounting: Chapter 4
Journal
Balance-Ruled Account Form
General Ledger
Ledger
Permanent record of debit and credit parts of each transactio…
If the form has columns for debit and credit balance
Contains all accounts needed to prepare financial statements
A group of accounts
Journal
Permanent record of debit and credit parts of each transactio…
Balance-Ruled Account Form
If the form has columns for debit and credit balance
14 terms
Managerial Accounting Chapter 4
Cost of Production Report
Equivalent Units
First-In, First-Out (FIFO) Cost Method
Hybrid Cost System
A report which presents information about units, costs... charge…
The theoretical number of units that could have been produced…
A process costing method that presumes the beginning inventor…
One type of cost system is used for one phase of the producti…
Cost of Production Report
A report which presents information about units, costs... charge…
Equivalent Units
The theoretical number of units that could have been produced…
8 terms
Accounting I - Chapter 4
ledger
general ledger
account number
file maintenance
A group of accounts.
A ledger that contains all accounts needed to prepare financi…
Then number assigned to an account.
The procedure for arranging accounts in a general ledger, ass…
ledger
A group of accounts.
general ledger
A ledger that contains all accounts needed to prepare financi…
23 terms
ACCOUNTING CHAPTER 4
accounting cycle is
steps of accounting cycle
journal
transactions are entered in the journa…
a series of steps performed during each accounting period to…
step 1- analyze transactions... step 2 journalize the data about…
is a record of original entry; is a diary of business activit…
chronological order
accounting cycle is
a series of steps performed during each accounting period to…
steps of accounting cycle
step 1- analyze transactions... step 2 journalize the data about…
15 terms
Accounting chapter 4 *fisher
Account Title
Ledger
File Maintenance
Opening an Account
The number signed to an account
A group of accounts
The procedure for arranging accounts in a general ledger, ass…
Writing an account title and number on the heading of an acco…
Account Title
The number signed to an account
Ledger
A group of accounts
44 terms
Chapter 4 Accounting
Accounting Cycle
Audit Trail
Balance Ledger Form
Chronological Order
a series of steps performed during each accounting period to…
a chain of references that makes it possible to trace informa…
a ledger account form that shows the balance of the account a…
organized in the order in which the events occur
Accounting Cycle
a series of steps performed during each accounting period to…
Audit Trail
a chain of references that makes it possible to trace informa…
Principles of Accounting Chapter 4
Classified balance sheet
Closing entries
Correcting entries
Current assets
A balance sheet that contains standard classifications or sec…
Entries made at the end of an accounting period to transfer t…
Entries to correct errors made in recording transactions.
Assets that a company expects to convert to cash or use up wi…
Classified balance sheet
A balance sheet that contains standard classifications or sec…
Closing entries
Entries made at the end of an accounting period to transfer t…
8 terms
Financial Accounting Chapter 4
Adjusted Trial Balance
Adjusting Journal Entries
Carrying Value (Net Book Value, Book V…
Contra-Account
A list of all accounts and their adjusted balances to check o…
Entries necessary at the end of each accounting period to rep…
The amount at which an asset or liability is reported after d…
An account that is an offset to, or reduction of, another acc…
Adjusted Trial Balance
A list of all accounts and their adjusted balances to check o…
Adjusting Journal Entries
Entries necessary at the end of each accounting period to rep…
8 terms
Accounting I Chapter 4
account number
correcting entry
file maintenance
general ledger
the number assigned to an account.
a journal entry made to correct an error in a ledger.
the procedure for arranging accounts in a general ledger, ass…
a ledger that contains all accounts needed to prepare financi…
account number
the number assigned to an account.
correcting entry
a journal entry made to correct an error in a ledger.
8 terms
Chapter 4 Accounting Terms
ledger
account number
correcting entry
file maintenance
A group of accounts
The number assigned to an account.
A journal entry made to correct an error in a previous journa…
The procedure for arranging accounts in a general ledger, ass…
ledger
A group of accounts
account number
The number assigned to an account.
32 terms
Accounting Chapter 4
5S
Activity-Based Costing (ABC)
Activity-Based Management (ABM)
Appraisal Costs
a workplace organization system comprised of the following st…
focuses on activities as the fundamental cost objects. the co…
using activity-based cost information to make decisions that…
costs incurred to detect poor-quality goods or services
5S
a workplace organization system comprised of the following st…
Activity-Based Costing (ABC)
focuses on activities as the fundamental cost objects. the co…
Accounting chapter 4
Ex of Current assets
ex of PPE
Current liabilities
Long term liabilites
-Cash... -Accounts recievable... -Prepaid expenses... -Investments... -In…
-Furniture... -Equipment... -Accumulated depreciation... -Land... -Buildi…
-Accounts payable... -Accrued expenses... -Current portion of loans…
-Loans payable
Ex of Current assets
-Cash... -Accounts recievable... -Prepaid expenses... -Investments... -In…
ex of PPE
-Furniture... -Equipment... -Accumulated depreciation... -Land... -Buildi…
71 terms
Chapter 4 accounting
Intraperiod income tax presentation is…
The difference between single-step and…
Popson Inc. incurred a material loss w…
Provincial Inc. reported the following…
D. Allocation
B. Presentation
C. A separate line item within income from continuing operati…
B. 180000
Intraperiod income tax presentation is…
D. Allocation
The difference between single-step and…
B. Presentation
8 terms
Accounting Chapter 4
Ledger
General Leger
Account Number
File Mantenance
A group of accounts.
A Leger that contains all accounts needed to prepare financia…
The number assigned to an account.
The procedure for arranging accounts in General Leger, assign…
Ledger
A group of accounts.
General Leger
A Leger that contains all accounts needed to prepare financia…
25 terms
Chapter 4 - Accounting
Accrual-basis accounting
Accrued expenses
Accrued revenues
Adjusted trial balance
Accounting basis in which companies record, in the periods in…
Expenses incurred but not yet paid in cash or recorded
Revenues earned but not yet received in cash or recorded
A list of accounts and their balances after all adjustments h…
Accrual-basis accounting
Accounting basis in which companies record, in the periods in…
Accrued expenses
Expenses incurred but not yet paid in cash or recorded
8 terms
Chapter 4 Accounting Terms
ledger
general ledger
account number
file maintenance
accounts in groups
all accounts needed to complete financial staments
assigned number given to an account
way to keep accounts in a general ledger, assign account numb…
ledger
accounts in groups
general ledger
all accounts needed to complete financial staments
8 terms
Chapter 4 Double Entry Accounting
Chart of Accounts
Assets
General Ledger
Credit
A list of all accounts used by a business.
Accounts that are numbered in the 100s.
A group of accounts.
An amount entered on the right side of an account.
Chart of Accounts
A list of all accounts used by a business.
Assets
Accounts that are numbered in the 100s.
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