Chapter 04 – The General Journal and the General Ledger
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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 04 – The General Journal and the General Ledger
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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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81. Lourdes Yabar opened a computer repair business on May 1, 2010. During the first month
of operations, the firm had the following transactions. Record these transactions on page 1 of
the general journal. Omit the descriptions. Set up a Cash general ledger account and post the
appropriate transactions to this account, account 101.
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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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82. Global Delivery opened for business on July 1, 2010. The company uses the general
ledger accounts listed below. During the first month of business, the firm had the transactions
listed below. Record the transactions on page 1 of a general journal. Omit descriptions. Set up
a Cash general ledger account and post the appropriate transactions to this account, account
101.
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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
85. Match the accounting terms with the description by entering the proper number.
1. The record of original entry
General journal
12
2. A permanent, classified record of all accounts used in a
firm’s operation; a record of final entry
Posting
9
3. A journal entry made to correct an erroneous entry
Accounting
cycle
8
4. A chain of references that makes it possible to trace
information, locate errors, and prevent fraud
General ledger
2
5. A ledger account form that shows the balance of the
account after each entry is posted
Journalizing
10
6. The record of final entry
Balance ledger
form
5
7. Organized in the order in which the events occur
Compound
entry
11
8. A series of steps performed during each accounting
period to classify, record, and summarize data for a
business and to produce needed financial information
Chronological
order
7
9. Transferring data from a journal to a ledger
Audit trail
4
10. Recording transactions in a journal
Correcting
entry
3
11. A journal entry with more than one debit or credit
Journal
1
12. A financial record for entering all types of business
transactions; a record of original entry
Ledger
6