Why are posting references entered in the journal when entries are posted to the ledger accounts?

a. To ensure the entries balance.

b. Posting references is not done until the preparation of the formal financial statements is done.

c. So we know that the entry has been posted.

d. The postings must be approved.

Question

Tara Gould

Business

15 November, 10:29

Why are posting references entered in the journal when entries are posted to the ledger accounts?

a. To ensure the entries balance.

b. Posting references is not done until the preparation of the formal financial statements is done.

c. So we know that the entry has been posted.

d. The postings must be approved.

+2

Answers (1)

Know the Answer?

Makhi Barr · Answer 1

c. So we know that the entry has been posted.

Explanation:

The posting reference are entered in the journal entries are done so as to find them in the account ledgers and these entres are post in the this account is insert to keep and store the booking entry for the balance sheets and includes the incomes statements and accounts like the receivables and the accounts payable and accrued expenses also.