List the following steps of the accounting cycle in their proper order. Steps 1. Posting journal entries to the ledger. 2. Preparing the unadjusted trial balance. 3. Preparing the adjusted trial balance. 4. Journalizing and posting closing entries. 5. Analyzing transactions and events. 6. Journalizing transactions and events. 7. Journalizing and posting adjusting entries. 8. Preparing the financial statements. 9. Preparing the post-closing trial balance.

List the following steps of the accounting cycle in their proper order. Steps 1. Posting journal entries to the ledger. 2. Preparing the unadjusted trial balance. 3. Preparing the adjusted trial balance. 4. Journalizing and posting closing entries. 5. Analyzing transactions and events. 6. Journalizing transactions and events. 7. Journalizing and posting adjusting entries. 8. Preparing the financial statements. 9. Preparing the post-closing trial balance.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following to describe the order of the steps in the Accounting Cycle. Prompts Submitted Answers Step 1 Analyze transactions for debit and credit account Step 2 Journalize transactions Step 3 Prepare the General Trial Balance Step 4 Prepare the Balance Sheet Step 5 Prepare the Adjusted Balance Sheet Step 6 Prepare the Retained Earnings Statement Step 7 Prepare the Adjusted Income Statement Step 8 Prepare the preclosing Trial Balance Step 9 Prepare the post-closing Trial Balance Step 10 Prepare the Income Statement
The accounting cycle starts with the: a. preparation of trial balance b. preparation of adjusting entries c. analysis of business transaction d. preparation of ledger accounts
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Adjusting Entries must be immediately be made:a.) After the journal entries have been postedb.) After the financial statements are preparedc.) After reversing and closing entries are maded.) After the trial balance are prepared
Answer the following
The first required step in the accounting cycle is: O journalizing transactions, posting transactions.. Oanalyzing transactions. O adjusting entries.
Which of these accounts IS included in the post-closing trial balance?
Order to be followed for Accounting cycle?
To record date-wise details of transactions expressed as debits and credits to accounts, the business prepares a. trial balance. O b. balance sheet. Oc ledger. d. journal.