A balance column ledger account is
A) An account entered on the balance sheet
B) An account with debit and credit columns for recording entries and a third column for showing the balance of the account after each entry is posted
C) Another name for the withdrawals account
D) An account used to record the transfers of assets from a business to its owner
E) A simple form of account that is widely used in accounting education to illustrate the debits and credits required in recording a transaction

Question

Quizplus · Accepted Answer

A balance column ledger account is an account that has debit and credit columns for recording entries and a third column for showing the balance of the account after each entry is posted. This allows for easy tracking of the balance in the account over time.

A Balance Column Ledger Account Is