Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 4, Problem 8QC
Which of the following steps of the accounting cycle is not completed at the end of the period?
a. Journalize transactions as they occur
b. Journalize and
c. Prepare the post-closing
d. Prepare the financial statements.
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Students have asked these similar questions
The process of transferring general journal entry information to
the ledger is called: a. Balancing an account. b. Journalizing. c.
Posting. d. Double-entry accounting. e. Balancing. Which of the
following is prepared after the preparation of the balance sheet?
a. Closing entries. b. Adjusting entries. c. Adjusted trial balance.
d. Statement of retained earnings. e. Ledger accounts. The
posting reference column in the ledger is: A. used to record the
journal and page number from the transactions originated. B.
used to record the ledger number. C. used to record the date. D.
not used.
Which of the following steps in the accounting cycle comes before posting entries to accounts?
Journalize closing entries.
Analyze transactions.
Prepare reports.
Prepare post-closing trial balance.
Distinguish the reasons for preparing closure entries at the conclusion of the accounting period. What is the impact on the accounts?
Chapter 4 Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
Ch. 4 - Assets are listed on the balance sheet in the...Ch. 4 - Which of the following accounts would be included...Ch. 4 - Which situation indicates a net loss within the...Ch. 4 - Which of the following accounts is not closed? a....Ch. 4 - What do closing entries accomplish? a. Zero out...Ch. 4 - Which of the following is not a closing entry?Ch. 4 - Which of the following accounts may appear on a...Ch. 4 - Which of the following steps of the accounting...Ch. 4 - Clean Water Softener Systems has Cash of 600,...Ch. 4 - Which of the following statements concerning...
Ch. 4 - What document are financial statements prepared...Ch. 4 - Prob. 2RQCh. 4 - What does the statement of retained earnings show?Ch. 4 - Prob. 4RQCh. 4 - Why are financial statements prepared in a...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - How could a worksheet help in preparing financial...Ch. 4 - If a business had a net loss for the year, where...Ch. 4 - Prob. 12RQCh. 4 - What are temporary accounts? Are temporary...Ch. 4 - What are permanent accounts? Are permanent...Ch. 4 - How is the Income Summary account used? Is it a...Ch. 4 - What are the steps in the closing process?Ch. 4 - If a business had a net loss for the year, what...Ch. 4 - What types of accounts are listed on the...Ch. 4 - List the steps of the accounting cycle.Ch. 4 - What is the current ratio, and how is it...Ch. 4 - What are reversing entries? Are they required by...Ch. 4 - Preparing an income statement Daylen Hair...Ch. 4 - Preparing a statement of retained earnings Refer...Ch. 4 - Preparing a balance sheet (unclassified, account...Ch. 4 - Preparing a balance sheet (classified, report...Ch. 4 - Classifying balance sheet accounts For each...Ch. 4 - Using the worksheet to prepare financial...Ch. 4 - Determining net income using a worksheet A partial...Ch. 4 - Determining net loss using a worksheet A partial...Ch. 4 - Prob. 4.9SECh. 4 - Posting dosing entries directly to T-accounts The...Ch. 4 - Identifying accounts included on a post-dosing...Ch. 4 - Identifying steps in the accounting cycle Review...Ch. 4 - Calculating the current ratio Heart of Tennessee...Ch. 4 - Journalizing reversing entries Lake View...Ch. 4 - Preparing the financial statements The adjusted...Ch. 4 - Prob. 4.16ECh. 4 - Preparing a classified balance sheet and...Ch. 4 - Preparing a worksheet The unadjusted trial balance...Ch. 4 - Preparing financial statements from the completed...Ch. 4 - Preparing dosing entries from an adjusted trial...Ch. 4 - Preparing closing entries from T-accounts Selected...Ch. 4 - Determining the effects of dosing entries on the...Ch. 4 - Preparing a worksheet and dosing entries Cadence...Ch. 4 - Preparing closing entries from an adjusted trial...Ch. 4 - Preparing a worksheet, dosing entries, and a...Ch. 4 - Journalizing reversing entries Krisp Architects...Ch. 4 - Journalizing reversing entries Ocean View Services...Ch. 4 - Preparing financial statements including a...Ch. 4 - Prob. 4.29APCh. 4 - Preparing a worksheet, financial statements, and...Ch. 4 - Completing the accounting cycle from adjusting...Ch. 4 - Completing the accounting cycle from journal...Ch. 4 - Preparing adjusting entries and reversing entries...Ch. 4 - Preparing financial statements including a...Ch. 4 - Prob. 4.35BPCh. 4 - Preparing a worksheet, financial statements, and...Ch. 4 - Completing the accounting cycle from adjusting...Ch. 4 - Completing the accounting cycle from journal...Ch. 4 - Preparing adjusting entries and reversing entries...Ch. 4 - Completing the accounting cycle from adjusted...Ch. 4 - Completing the accounting cycle from adjusted...Ch. 4 - Comprehensive Problem 1 for Chapters 1-4 Miller...Ch. 4 - Comprehensive Problem 2 for Chapters 1-4 This...Ch. 4 - Prob. 4.1CTEICh. 4 - Prob. 4.1CTFCCh. 4 - Prob. 4.1CTFSCCh. 4 - Kathy Wintz formed a lawn service business as a...
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- . Which of the following steps in the accounting cycle listed below occurs last? Group of answer choices A. Journalizing transactions B. Preparing the financial statements and other reports. C. Closing the temporary accounts. D. Preparing the unadjusted trial balance.arrow_forwardNumber in their proper order the following steps in the accounting cycle. a. Prepare a trial balance. b. Post to the general ledger accounts. c. Journalize and post the closing entries. d. Complete an end-of-period work sheet. e. Prepare a post-closing trial balance. f. Journalize and post the adjusting entries. g. Analyze source documents. h. Record the adjusting entries on a work sheet. i. Journalize the transactions. j. Prepare the financial statements.arrow_forwardOf the following steps of the accounting cycle, which step should be completed last? a.Transactions are posted to the ledger. b.An adjusted trial balance is prepared. c.An unadjusted trial balance is prepared. d.Adjusting entries are journalized and posted to the ledger.arrow_forward
- Listed below in random order are the eight steps comprising a complete accounting cycle:Prepare a trial balance.Journalize and post the closing entries.Prepare financial statements.Post transaction data to the ledger.Prepare an adjusted trial balance.Make end-of-period adjustments.Journalize transactions.Prepare an after-closing trial balance.a. List these steps in the sequence in which they would normally be performed. (A detailedunderstanding of these eight steps is not required until Chapters 4 and 5.)b. Describe ways in which the information produced through the accounting cycle is used by acompany’s management and employees.arrow_forwardRearrange the following steps in the accounting cycle in proper sequence: Transactions are analyzed and recorded in the journal. An unadjusted trial balance is prepared. Transactions are posted to the ledger. Adjustment data are assembled and analyzed. An adjusted trial balance is prepared. Adjusting entries are journalized and posted to the ledger. An optional end-of-period spreadsheet is prepared. A post-closing trial balance is prepared. Financial statements are prepared. Closing entries are journalized and posted to the ledger.arrow_forwardFrom the following list of steps in the accounting cycle, identify what two steps are missing:a. Transactions are analyzed and recorded in the journal.b. An unadjusted trial balance is prepared.c. Adjustment data are assembled and analyzed.d. An optional end-of-period spreadsheet is prepared.e. Adjusting entries are journalized and posted to the ledger.f. An adjusted trial balance is prepared.g. Closing entries are journalized and posted to the ledger.h. A post-closing trial balance is prepared.arrow_forward
- Give me answerarrow_forwardWhich of the following accounts should not appear on the post-closing trial balance? Select one: a. Accounts Payable b. Accounts Receivable c. Income Summary d. Office Equipmentarrow_forwardOrder the following steps in the accounting process that focus on analyzing and recording transactions.arrow_forward
- Posting:a. involves transferring the information in journal entries to the general ledger.b. is an optional step in the accounting cycle.c. is performed after a trial balance is prepared.d. involves transferring information to the trial balance.arrow_forwardThe complete accounting process that begins with analyzing and journalizing transactions and ends with the post-closing trial balance is referred to as the ________________________? Group of answer choices closing cycle accounting cycle deferred cycle accrued cyclearrow_forwardThe purpose of the post-closing trial balance is to a. provide the account balances for the preparation of the balance sheet. b. ensure that the ledger is in balance for completion of the worksheet. c. aid the journalizing and posting of the closing entries. d. ensure that the ledger is in balance for the start of the next period.arrow_forward
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