Answer:
Steps in the Accounting Cycle
a) The order in which the steps in the accounting cycle are performed is:
3, 6, 2, 1, 4, 8, 5, 9, 7
b) The steps in the accounting cycle that occur daily are:
2, 3, & 6
Explanation:
The correct ordered steps in the account cycle are:
3. Analyze transactions from source documents.
6. Record transactions in a journal.
2. Post journal entries to general ledger accounts.
1. Prepare the unadjusted trial balance.
4. Journalize and post adjusting entries.
8. Prepare the adjusted trial balance.
5. Prepare the financial statements.
9. Journalize and post closing entries.
7. Prepare the post-closing trial balance.
