The Entries Recorded in the Other Accounts Column of a Cash

question 69

Multiple Choice

The entries recorded in the Other Accounts column of a cash payments journal

• A) are posted to the accounts payable subsidiary ledger daily.
• B) are posted individually to accounts in the general ledger.
• C) are not posted individually but are posted as a column total to the general ledger.
• D) do not require posting.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members. It's often quoted as the amount each share receives (dividends per share).

Unearned Rent

Income received for rent before the rental period has occurred, recorded as a liability until the period passes.

Adjusted Trial Balance

A listing of all the accounts and their balances after adjustments have been made, used to prepare financial statements.

Retained Earnings

The portion of net income that is kept by a company to reinvest in its core business or to pay debt, rather than being distributed to shareholders as dividends.