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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

GENERAL LEDGER ACCOUNTS; TRIAL BALANCE Set up general ledger accounts using the chart of accounts provided in Exercise 4-4B. Post the transactions from Exercise 4-4B to the general ledger accounts and prepare a trial balance.

To determine

Set up general ledger using the chart of accounts; post the transactions to the general ledger accounts and also prepare trial balance.

Explanation

Chart of accounts:

The chart that lists all the account titles along with their corresponding numbers, that are used in the general ledger of a company.

General ledger:

General ledger is a record of all accounts of assets, liabilities, and stockholders’ equity, necessary to prepare financial statements.

Set up general ledger using the chart of accounts; post the transactions to the general ledger accounts:

(Figure 1)

(Figure 2)

(Figure 3)

(Figure 4)

(Figure 5)

(Figure 6)

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