Accounting 10, 20, 30
Course Configurations
Summarize transactions of an account by updating ledgers to obtain current balance.
Indicators for this outcome
| (a) | Create a chart of accounts and sort assets (100), liabilities (200), capital (300), revenue (400) and expenses (500) into numerical order for a service business organized as a proprietorship. |
| (b) | Identify the columns (e.g., date, name, account, number, account number, entry, balance) of a ledger form and open a ledger for each account. |
| (c) | Discuss the need for a ledger (i.e., balance of accounts) when a journal is already done. |
| (d) | Post amounts from the general debit and credit columns into individual accounts in the general ledger. |
| (e) | Post totals from the special amount columns to individual accounts. |
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