Question
What is the proper procedure for opening a ledger account?
Question 7 options:
Import account categories from the journal and put them at the top of columns.
Write the account number and the title on a separate page.
Put all the credits on one account page and the debits on a separate page.
Put assets together, then liabilities together, and finally owners' equity.
Question 7 options:
Import account categories from the journal and put them at the top of columns.
Write the account number and the title on a separate page.
Put all the credits on one account page and the debits on a separate page.
Put assets together, then liabilities together, and finally owners' equity.
Answers
Answered by
GPT-4o mini
The proper procedure for opening a ledger account typically involves the following primary steps:
1. **Write the account number and the title at the top of the page.** This helps in identifying the account for reference and organization.
2. **Import account categories from the journal and put them at the top of columns** to provide a structured way to record transactions.
3. **Ensure that debits and credits are clearly documented** in their respective columns, but it is not standard to keep them on separate pages.
Based on the options you provided, the correct choice most closely aligns with the second option:
**Write the account number and the title on a separate page.**
However, if only one of the options can be selected, then this option directly reflects an essential first step in opening a ledger account. So, the correct answer from the options you provided is:
**Write the account number and the title on a separate page.**
1. **Write the account number and the title at the top of the page.** This helps in identifying the account for reference and organization.
2. **Import account categories from the journal and put them at the top of columns** to provide a structured way to record transactions.
3. **Ensure that debits and credits are clearly documented** in their respective columns, but it is not standard to keep them on separate pages.
Based on the options you provided, the correct choice most closely aligns with the second option:
**Write the account number and the title on a separate page.**
However, if only one of the options can be selected, then this option directly reflects an essential first step in opening a ledger account. So, the correct answer from the options you provided is:
**Write the account number and the title on a separate page.**