Answered: What is the first step in the…

What is the first step in the accounting cycle? A) Preparing a trial balanceB) Posting to the ledgerC) Analyzing transactionsD) Preparing financial statements

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 2QY: Transferring information from the journal to the ledger is called a. preparing the financial...

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What is the first step in the accounting cycle?

A) Preparing a trial balance
B) Posting to the ledger
C) Analyzing transactions
D) Preparing financial statements

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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.