Question

Which sequence correctly summarizes the accounting​ process? A. Journalize​ transactions, post to the​ accounts, prepare a trial balance B. Prepare a trial​ balance, journalize​ transactions, post to the accounts C. Journalize​ transactions, prepare a trial​ balance, post to the accounts D. Post to the​ accounts, journalize​ transactions, prepare a trial balance

Answer 1

Answer:

A. Journalize​ transactions, post to the​ accounts, prepare a trial balance

Explanation:

The Transaction are Journalized first and the these are  posted to the relevant account after that according to their nature of account and debit credit impact to each account. At the end of the period all the closing balances of the account are calculated and listed in the trial balance from where we start to make our financial statements. So the correct sequence for the accounting process is Journalize​ transactions, post to the​ accounts, prepare a trial balance.