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

Question

Quizplus · Accepted Answer

The balance column in a ledger account is used to show the balance of the account after each entry is posted. It allows the accountant to easily track the activity and balance of the account throughout a specific period of time.

The Balance Column in a Ledger Account Is