The journalizing process involves all of the following steps except for:
A) determining whether each account is increased or decreased by the transaction.
B) copying the information from the journal to the ledger.
C) entering the debit side on the left margin of the journal.
D) specifying each account affected by the transaction and classifying the account by type.

Question

Quizplus · Accepted Answer

The journalizing process involves identifying the accounts affected by the transaction, determining whether they are increased or decreased, and classifying them by type (assets, liabilities, equity, revenue, or expenses). Then, the debit amounts are recorded on the left-hand side of the journal, and the credit amounts are recorded on the right-hand side. The next step is to post the information from the journal to the ledger, where account balances are updated. Therefore, the step of copying information from the journal to the ledger is not part of the journalizing process.

The Journalizing Process Involves All of the Following Steps Except