Question

The following are all the steps in the accounting cycle. List them in the order in which they should be done. - Closing entries are journalized and posted to the ledger. - An unadjusted trial balance is prepared. - An optional end-of-period spreadsheet (work sheet) is prepared. - A post-closing trial balance is prepared. - Adjusting entries are journalized and posted to the ledger. - Transactions are analyzed and recorded in the journal. - Adjustment data are assembled and analyzed. - Financial statements are prepared. - An adjusted trial balance is prepared. - Transactions are posted to the ledger.

Answer 1

Answer:

Answered

Explanation:

The order of steps in the accounting cycle.

1 Transactions are analyzed and recorded in the journal.  

2 Transactions are posted to the ledger.  

3 An unadjusted trial balance is prepared.  

4 Adjustment data are assembled and analyzed.  

5 An optional end-of-period spreadsheet (work sheet) is prepared.  

6 Adjusting entries are journalized and posted to the ledger.  

7 An adjusted trial balance is prepared.  

8 Financial statements are prepared.  

9 Closing entries are journalized and posted to the ledger.  

10 A post-closing trial balance is prepared.