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The required steps in the accounting cycle are listed in random order below. List the steps in proper sequence. Journalise the transactions. Post to ledger accounts. Prepare a post-closing trial balance. Prepare an adjusted trial balance. Analyse business transactions. Journalise and post closing entries. Journalise and post adjusting entries. Prepare financial statements. Prepare a trial balance

The required steps in the accounting cycle are listed in random order below. List the steps in proper sequence. Journalise the transactions. Post to ledger accounts. Prepare a post-closing trial balance. Prepare an adjusted trial balance. Analyse business transactions. Journalise and post closing entries. Journalise and post adjusting entries. Prepare financial statements. Prepare a trial balance

FINANCIAL ACCOUNTING
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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BE3.7 List the required steps in the accounting cycle sequence.LO7

The required steps in the accounting cycle are listed in random order below. List the steps in proper sequence.

  1. Journalise the transactions.
  2. Post to ledger accounts.
  3. Prepare a post-closing trial balance.
  4. Prepare an adjusted trial balance.
  5. Analyse business transactions.
  6. Journalise and post closing entries.
  7. Journalise and post adjusting entries.
  8. Prepare financial statements.
  9. Prepare a trial balance
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