TLE HOMEWORK.

Assignment: Due on Thursday, Sept. 30, 2010 (6:30 A.M.)

Reference: Basic Accounting by Valencia

• ITEMS 1 to 5 are found on pages 207-212
• ITEMS 8 to 10 are found on pages 212-223

1. Describe a ledger and give its classifications.
2. Describe the components of a basic ledger account.
3. What is posting?
4. What is the importance of posting reference column in journal and in the ledger?
5. Enumerate the steps in posting from the journal to ledger.
6. What is a chart of accounts? (Photocopy the sample chart of accounts and paste it on your notebook.) pp. 190-191
7. What is a trial balance? (Photocopy the sample trial balance and paste it in your notebook.)
8. How to prepare a trial balance.
9. Describe the following:

• Footings
• Trial balance with equal sides
• Trial balance out-of-balance

10. Enumerate the hints for locating errors.

11. Describe a worksheet. (Photocopy the sample worksheet and paste in on your notebook.)

12. Enumerate the steps in the preparation of worksheet. (pp. 317-318)