210. A ___________________ is a record containing all accounts for a company along with their balances. 211. _____________________________ requires that the impact of each transaction be recorded in...





210. A ___________________ is a record containing all accounts for a company along with their balances.



211. _____________________________ requires that the impact of each transaction be recorded in at least two accounts. It also means that total amounts debited must equal total amounts credited for each transaction.



212. The difference between total debits and total credits for an account, including any beginning balance is the ________________________.



213. Increases in assets are _______________, while increases in liabilities are _______________.



214. FastForward purchased $25,000 of equipment for cash. The Equipment asset account is _______________ for $25,000 and the cash account is _______________ for $25,000.



215. Stride Rite had total liabilities of $130 million and total assets of $375 million. Its debt ratio was _______________.



216. _______________ is the process of transferring journal entry information to the ledger.



217. A ___________________________ gives a complete record of each transaction in one place and shows debits and credits for each transaction.



218. An account format that is similar to a T-account in that it has columns for debits and credits, but that is different in that it has columns for transaction date, explanation and the account balance is the ___________________________________.



219. The posting process is the link between the _______________ and the _____________.



May 15, 2022
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