Accounting1 Chapter 7 (Journal and Ledger Accounts)

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Description and Tags

Finance

Accounting

grade 11

5 Terms

1
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The Balance Column Account
Another style of ledger accounts that is more useful and convenient for keeping information about each account balance and changes in it
2
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Opening an Account
Preparing an accounting page and placing it in its proper place in the ledger
3
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Formal Posting
When journal entries are posted to the ledger
4
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Forwarding
The process of continuing an account on the next page by carrying forward the date and balance from the completed page
5
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P.R Column
Post reference column