Question

Jim works in the accounting department at the Kansas Sunflower Corporation, where it is his job to record all transactions into journals. After completing this task, the next step in the accounting process is to:________________________

Answer 1

Answer:

Post the transaction information to the ledger

Explanation:

Usually there about eight steps in the accounting process. The first two steps are:

1. Identification of transactions.

2. Recording of identified transactions in a Journal

3. Posting into the general ledger

The general ledger provides details of all accounting activities by account enabling the bookkeeper to monitor financial positions and statuses by account.