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 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

The balance column in a ledger account is a column that shows the balance of the account after each entry is posted. This is important for keeping track of the running balance of the account and ensuring that it remains accurate. The other options listed are not accurate definitions of the balance column.

The Balance Column in a Ledger Account Is