A balance column ledger account is
A)An account entered on the balance sheet.
B)Another name for the withdrawals account.
C)An account used to record the transfers of assets from a business to its owner.
D)A simple form of account that is widely used in accounting education to illustrate the debits and credits required in recording a transaction.
E)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.

Question

Quizplus · Accepted Answer

A balance column ledger account is 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. This allows for a quick and easy way to see the balance of the account at any given time.

A Balance Column Ledger Account Is