General ledger – Fill in the blanks

1. is the process of transferring journal entries to ledger accounts.

2. The left hand side of the ledger account is termed as .

3. The right hand side of the ledger account is termed as .

4. is the abbreviation used for debit.

5. The term credit is usually abbreviated by .

6. is a process that involves finding out the balance of a ledger account.

7. If debit side of an account is heavier than credit side, the account will show a balance.

8. The difference between the totals of two sides of a ledger account is called .

9. Liability accounts in the ledger normally show balance.

10. Asset accounts normally show balance.

11. is known as the king of all books.

12. The posting reference column in a ledger account means of the general journal where the journal entry has been made.

13. The name of the account written at the top is termed as .

14. Revenue/income accounts are expected to have a balance.

15. Drawings account has a balance.

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