Final answer:
The statement that the Post Reference column is used to trace transactions from the ledger to the journal is true. This column assists in the posting process by providing a way to cross-reference entries between the two records.
Step-by-step explanation:
The statement given is True. The Post Reference column in a four-column account is indeed used in the posting process. This process involves transferring the information from a journal to the ledger accounts. When a transaction is recorded in the general journal, each entry typically includes the date, accounts affected, amounts to be debited or credited, and a brief description of the transaction.
During posting, the Post Reference column helps by showing where the entry came from in the journal (journal page number or entry number). After posting the journal entry to the corresponding ledger accounts, the ledger page number is then placed in the Post Reference column of the journal. This creates a cross-reference that allows someone to trace information back and forth between the ledger and journal, aiding in both record keeping and the audit trail.