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- 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.A __________ is a book in which business transactions are recorded. a. journal b. ledger c. trial balance d. balance sheetIdentify which of the following accounts would be listed on the companys Post-Closing Trial Balance. A. Accounts Receivable B. Accumulated Depreciation C. Cash D. Office Expense E. Note Payable F. Rent Revenue G. Retained Earnings H. Unearned Rent Revenue
- 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.Write any ten transactions relating to the business. Prepare Journal, ledger and Unadjusted Trial balance for those transactions.Directions: USE THE NUMBERS 1-10 TO PLACE THE FOLLOWING STEPS OF THE ACCOUNTING CYCLE IN THEIR PROPER ORDER, 1 BEING THE FIRST IN ORDER, AND 10 TO THE LAST. A. Analyze business transactions F. Journalize/post-closing entries B. Collect/verify source documents G. Post journal entries C. Complete the worksheet H. Prepare financial statements D. Journalize business transactions I. Prepare a post-closing trial balance E. Journalize/post adjustments J. Prepare trial balance
- Explain what is occurring during each step in the accounting cycle that I listed below.  Steps: 1. Business transactions occur & generate source documents. 2. Analyze and journalise transaction intormation into journal. 3. Posting of transaction information from journal to the ledger. 4. Prepare a trial balance. 5. Prepare a worksheet. 6. Journalise adjusting and closing entries. 7. Prepare financial statements. 8. Post adjusting and closing entries. 9. Prepare a post closing trail balance.Indicate the correct order in which the following 5 steps of the accounting cycle would normally be prepared. (Not yet in order) - Prepare a Trial Balance - Post the Impact of the Journal Entries into their respective general ledger accounts - analyze the impact of economic transactions on the financial statements - Record journal entries to reflect the economic information - identify economic transactions and the related source documents that may impact the company’s financial statements Please order those 5 from start to finish in the correct order, thank you.Of the following steps of the accounting cycle, which step should be completed last? a.Transactions are posted to the ledger. b.An adjusted trial balance is prepared. c.An unadjusted trial balance is prepared. d.Adjusting entries are journalized and posted to the ledger.
- The required steps in the accounting cycle are listed below in random order. List the steps in the correct order by selecting the numbers 1 to 9 (a) Prepare a post-closing trial balance. (b) Prepare an adjusted trial balance (c) Analyze business transactions (d)Prepare a trial balance. (e)Jornalize the transactions. (f)Journalize and post the closing entries. (g)Prepare the financial statements. (h) Journalize and post the adjusting entries (i) Post to the ledger accounts.These 16 accounts are from the Adjusted Trial Balance columns of a company’s work sheet. In the blank space beside each account, enter the letter of the financial statement column (A, B, C, or D) where a normal account balance is extended. A. Debit column for the Income Statement columns. B. Credit column for the Income Statement columns. C. Debit column for the Balance Sheet and Statement of Owner’s Equity columns. D. Credit column for the Balance Sheet and Statement of Owner’s Equity columns. 1. Interest Revenue 2. Machinery 3. Owner, Withdrawals 4. Depreciation Expense 5. Accounts Payable 6. Service Fees Revenue 7. Owner, Capital 8. Interest Expense 9. Accounts Receivable 10. Accumulated Depreciation 11. Office Supplies 12. Insurance Expense 13. Interest Receivable 14. Cash 15. Rent Expense 16. Wages PayableNumber in their proper order the following steps in the accounting cycle. a. Prepare a trial balance. b. Post to the general ledger accounts. c. Journalize and post the closing entries. d. Complete an end-of-period work sheet. e. Prepare a post-closing trial balance. f. Journalize and post the adjusting entries. g. Analyze source documents. h. Record the adjusting entries on a work sheet. i. Journalize the transactions. j. Prepare the financial statements.
