1. The process that transfers amounts from the journals to the ledgers is called?
posting
taking a trial balance
journalizing
assets and revenue
2. Which accounts are balance sheet accounts?
assets, expenses, revenue
liabilities, stockholders' equity
assets, liabilities, stockholders' equity
credit column
3. What should you do after posting from one of the specialized journals?
debit accounts receivable
credit cash
check the chart of accounts
take a trial balance
4. When posting from the cash receipts journal, which four accounts need to be posted?
cash, sales, sales tax, accounts receivable
cash, accounts payable, sales
purchases and cash
none of the above
5. The Cash credit posting from the cash payments represents?
sales for the month
total amount of checks and amounts withdrawn from the bank account
total amount of money deposited in the bank account
purchases for the month
6. If you posted a credit to sales, a credit to sales tax payable and a debit to accounts receivable, what journal would you be using?
cash receipts journal
sales journal
purchases journal
none of the above
7. A ledger that contains the names and amounts owed by your customers, is called?
accounts payable ledger
general ledger
accounts receivable ledger
none of the above
8. The total of the schedule of accounts receivable, should equal?
the amount of accounts receivable listed in the general ledger
the amount of accounts payable listed in the general ledger
the total amount of cash sales
the balance in the stockholders' equity account
9. Posting to the accounts payable ledger, comes from which two journals?
purchases journal and cash payments journal
cash receipts journal and general journal
sales journal and cash payments journal
general journal and sales journal
10. A listing of all account names in the general ledger is called?
trial balance
chart of accounts
cash payments journal
general journal
11. A listing of all charge sale customers and what they owe us is called?
cash payments journal
accounts receivable ledger
general journal
accounts payable ledger
12. A listing of all vendors and the amounts we owe is called?
sales journal
cash receipts journal
purchases journal
accounts payable ledger
13. Which journal is used when none of the others will work?
purchases journal
cash payments journal
cash receipts journal
general journal
14. The general ledger is arranged like?
chart of accounts
cash payments journal
accounts receivable ledger
purchases journal
15. When posting the salary expense entry from the general journal to the general ledger?
it is a credit
it would be recorded as a debit to salary expense
the salary expense is listed in the cash receipts journal
It would be debited to cash
Chapter 10 Accounting Test