Janet Miyoshi has prepared the following list of statements about the general ledger. 1. The general ledger

Question:

Janet Miyoshi has prepared the following list of statements about the general ledger.
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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

Question Posted: