A balance column ledger account is:
A)An account entered on the balance sheet
B)An account with debit and credit columns for posting entries and another column for showing the balance of the account after each entry is posted
C)An alternate name for the retained earnings account
D)An account used to record the transfers of assets from a business to its stockholders
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

A balance column ledger account has debit and credit columns for posting entries and a column for showing the balance of the account after each entry is posted. This type of account allows for easy tracking of a particular account's balance over time.

A Balance Column Ledger Account Is