Question

Which of the following sequences represents the normal flow of accounting data from the journal to the ledger? Question 6 options: a) Transactions occur, Source documents are prepared, Transaction analysis, Transaction is journalized and posted b) Source documents are prepared, Transaction analysis, Transaction is journalized and posted, Transactions occur c) Transaction analysis, Transaction is journalized and posted, Transactions occur, Source documents are prepared d) Transactions occur, Transaction analysis, Transaction is journalized and posted, Source documents are prepared

Answer 1

Answer:

a) Transactions occur, Source documents are prepared, Transaction analysis, Transaction is journalized and posted

Explanation:

We should consider that the client comes first in a business model.

Thus, we need somethign torecord first. so the first event is the transactions.

Then the customer will require a doccument to back it up. We cannot delay their request and tell them to wait until we analyze the transaction or do the journal entry. We give the receipt to the customer.

Now, the last two are more easy in order to know how to journalize we must analysis the transactions.

This tought makes option A the correct one.