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

Question

Quizplus · Accepted Answer

The balance column in a ledger account refers to a column that shows the balance of the account after each entry is posted. This helps in keeping track of the total amount in the account and makes it easier for accountants to prepare financial statements.

The Balance Column in a Ledger Account Is