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) Another name for the withdrawals account.
D) An account used to record the transfers of assets from a business to its owner.
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 is 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. It allows for easy tracking of the account's balance over time.

A Balance Column Ledger Account Is