CPB / BookKeeping Bookkeeping Ledger 4

Question 1

When a transaction is recorded in the journal and then posted to the ledger, which step comes first?

Accepted Answer

Recording in the journal

Answer

The journal entry is always recorded first (original book of entry), and then the amounts are posted to the appropriate ledger accounts.

Question 2

A debit entry to an expense account in the ledger will:

Accepted Answer

Increase the expense balance

Answer

Expense accounts have a normal debit balance, so debiting an expense account increases its balance.

Question 3

What information is typically NOT found in a general ledger account entry?

Accepted Answer

The name of the customer placing the order

Answer

Customer names belong in the accounts receivable subsidiary ledger; the general ledger account entry typically shows the date, reference, and debit/credit amount.

Question 4

Which of the following errors would NOT be detected by a trial balance?

Accepted Answer

A debit posted to the wrong account

Answer

Posting a debit to the wrong account still leaves total debits equal to total credits, so the trial balance remains in balance despite the error.

Question 5

An account number written in the journal's posting reference column indicates:

Accepted Answer

The entry has been posted to the ledger

Answer

Writing the ledger account number in the journal's posting reference column confirms that the entry has been successfully posted to that ledger account.

CPB / BookKeeping Practice Test

CPB / BookKeeping Practice Test

CPB / BookKeeping Bookkeeping Ledger 4