A. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a peri

Question

3 years ago

7

A. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a peri

od
b. The record holding all the accounts of a business, the changes in those accounts, and their balances
c. A journal entry that is characterized by having multiple debits and/or multiple credits
d. A record of transactions in date order
e. Left side of a T-account
f. Side of an account where increases are recorded
g. Transferring amounts from the journal to the ledger
h. Right side of a T-account
i. A list of all accounts with their balances at a point in time
j. A list of all accounts with their account numbers

Business

1 answer:

NemiM [27] · Answer 1 · 2022-05-13T08:24:13+03:00

Answer and Explanation:

Account

In commerce, an account is a record that has a list and store business transactions.

Ledger

ledger is a document that includes records in which the recorded and compiled information material is recorded as debits and credits.

Compound Journal Entry

A compound journal entry is a financial reporting entry that contains more than one debit and one credit.

Journal

The location where journal entries are registered before they are added to the ledger accounts.

Debit side

A debit is a left-hand entry of a dual-entry bookkeeping scheme that reflects the increase of an asset or cost or a decrease in debt.

Normal balance

It is part of the book-keeping procedure for double entries. Each account has the balance either of credit or debit. To order to increase the amount of an account with a credit balance, one would be crediting the account.

Posting

Posting is the process of transferring debit and credit balances to their respective ledgers.

The right side of the t-chart

The credit side is always the right-hand side of the T account

Trial balance

A trial balance is a collection of all the ledger accounts included in a company's ledger of accounts

Chart of accounts

it is a generated collection of the accounts that a company uses to describe each type of items that pay or receive money or its relative for.