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

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

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 5E: Arrange the following steps in the posting process in correct order: a. The amount of the balance of...

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Posting: involves transferring the information in journal entries to the general ledger. is an optional step in the accounting cycle. is performed after a trial balance is prepared. involves transferring information to the trial balance.
Arrange the following steps in the posting process in correct order: a. The amount of the balance of the ledger account is recorded in the Debit Balance or Credit Balance column. b. The amount of the transaction is recorded in the Debit or Credit column of the ledger account. c. The ledger account number is recorded in the Post. Ref. column of the journal. d. The date of the transaction is recorded in the Date column of the ledger account. e. The page number of the journal is recorded in the Post. Ref. column of the ledger account.
What is the third step in the accounting cycle? Analyze source documents and record business transactions in a journal. Prepare a post-closing trial balance. Journalize and post the closing entries. Prepare a trial balance.
Which of the following accounting records is the main source of information used to prepare the financial statements? A. journal entries B. T-accounts C. trial balance D. chart of accounts
Arrange the following steps in the posting process in correct order: a. Write the ledger account number in the Post. Ref. column of the journal. b. Write the amount of the transaction. c. Write the date of the transaction. d. Write the page number of the journal in the Post. Ref. column of the ledger account.
A __________ is a book in which business transactions are recorded. a. journal b. ledger c. trial balance d. balance sheet
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances).
Prepare an unadjusted trial balance, in correct format, from the alphabetized account information as follows. Assume all accounts have normal balances.
Prepare an unadjusted trial balance, in correct format, from the following alphabetized account information. Assume accounts have normal balances.
If a journal entry includes a debit or credit to the Retained Earnings account, it is most likely which of the following? A. a closing entry B. an adjusting entry C. an ordinary transaction entry D. outside of the accounting cycle
Number in order the following steps in the accounting cycle: a. Prepare a trial balance. b. Post journal entries to the accounts in the ledger. c. Journalize and post the adjusting entries from the data on the work sheet. d. Analyze source documents and record business transactions in a journal. e. Prepare financial statements from the data on the work sheet. f. Gather adjustment data and record the adjusting entries on a work sheet. g. Journalize and post the closing entries. h. Prepare a post-closing trial balance. i. Complete the work sheet.
Order the following steps in the accounting process that focus on analyzing and recording transactions. a. Prepare and analyze the trial balance. b. Analyze each transaction from source documents. c. Record relevant transactions in a journal. d. Post journal information to ledger accounts.