Listed below are terms associated with the steps of the accounting processing cycle. Pair each item from List A with the item from ListB that is most appropriately associated with it.List A1. Source documents2. Transaction analysis3. Journal4. Posting5. Unadjusted trial balance6. Adjusting entries7. Adjusted trial balance8. Financial statements9. Closing entries10. Post-closing trial balanceList B

Source documents serve as the original records of business transactions, such as invoices, receipts,…

Answered: Listed below are terms associated with…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter16: Financial Statements And Closing Entries For A Corporation

Section16.5: Preparing A Post-closing Trial Balance

Problem 3AYU

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Similar questions

Posting: involves transferring the information in journal entries to the general ledger. is an optional step in the accounting cycle. is performed after a trial balance is prepared. involves transferring information to the trial balance.
Transferring information from the journal to the ledger is called a. preparing the financial statements. b. journalizing. c. posting. d. tracking.
On the work sheet, assets are recorded in which of the following columns? a. Trial Balance, Credit b. Income Statement, Debit c. Balance Sheet, Debit d. Adjusted Trial Balance, Credit
CREATE AN EXAMPLE OF CHART OF ACCOUNTS. (SHOULD BE ARRANGED FROM ASSETS TO EXPENSES)
The T-account is used to summarize which of thefollowing?a. Increases and decreases to a single account in theaccounting system.b. Debits and credits to a single account in the accountingsystem.c. Changes in specific account balances over a timeperiod.d. All of the above describe how T-accounts are used byaccountants.
After transaction information has been recorded in the journal, it is transferred to the Select one: a.income statement. b.ledger. c.trial balance. d.book of original entry.
Which process of the accounting cycle often requires the most analytical thought?A. making a journal entryB. posting transactions to accountsC. summarizing the trial balanceD. preparing the financial statements
Accounting systems are designed to show the increases and decreases in each accounting equation element as a separate record. This record is called a/an ________. Group of answer choices chart of accounts balance sheet trial balance account
1. This deals with the determination of the fairness of the accountin reports and whther they are in accordance with the generally accepted accounting principles a. management accountingb. cost accounting.c. financial accountingd. auditing 2. which of the following journal entries can be eleminated?a. correcting entryb adjusting entryc. opening entryd. closing entry
Which of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledger
What is the primary purpose of the trial balance in accounting? a. Record financial transactionsb. Verify the accuracy of accounting entriesc. Prepare financial statementsd. Budgeting and forecasting
Identify the item that best completes each of the descriptions below. a. A(n) contains a record of decreases and increases in a specific revenue, expense, asset, liability, or equity. describes transactions entering an accounting system, such as a purchase order. b. A(n). c. The d. A(n) e. A list of all ledger accounts and identification numbers, not including account balances, is called a(n). is a record containing all accounts used by a company, including account balances. has a complete record of every transaction recorded. of accounts. general ledger Check

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