Janet Miyoshi has prepared the following list of statements about the general ledger. 1. The general ledger
Question:
1. The general ledger contains all the asset and liability accounts but no owner’s equity accounts.
2. The general ledger is sometimes referred to as simply the ledger.
3. The accounts in the general ledger are arranged in alphabetical order.
4. Each account in the general ledger is numbered for easier identification.
5. The general ledger is a book of original entry.
Instructions
Identify each statement as true or false. If false, indicate how to correct the statement.
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1 FalseThe general ledger contains all the asset liability and owners equity accoun...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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