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Business

Accounting

Differentiate general journal from a ledger. 2. Is every transaction posted immediately to the ledger? Why or why not?

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 2.1DQ: What is the difference between an account and a ledger?

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1. Differentiate general journal from a ledger. 2. Is every transaction posted immediately to the ledger? Why or why not?

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Similar questions

Is the order in which we place information in the journal and ledger important?
1. What are the advantages of the use of a ledger? 2. What are the steps in posting from Journal to the Ledger?
A.Post to a ledger using the T-acvount format. B.Journalize the above transaction.
Posting: transfers ledger transaction data to the journal. a. normally occurs before O b. journalizing. transfers journal entries to ledger accounts. is an optional step in the recording process. d.
What is the difference between a journal and a ledger with example?
Which of the following is not transferred from the journal to the ledger in the posting process? a.Date b.Explanation c.Debit and credit d.Amount
Should a transaction be first recorded in a journal or ledger? Why?
Which of the following accounting connotes posting to the ledger? * O Recording O Ledgering Journaling O Classifying
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What is the process of transferring the debits and credits from the journal entries to the accounts in the ledger called? Group of answer choices journalizing ledgering posting charting
a) Prepare journal entries to record above transactions. b) Post to relevant ledger accounts.