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AccountingAccounting (Text Only)26th Edition

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Chapter 4, Problem 4.5APE
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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

Solutions

Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 4.1APE
Problem 4.1BPE
Problem 4.2APE
Problem 4.2BPE
Problem 4.3APE
Problem 4.3BPE
Problem 4.4APE
Problem 4.4BPE
Problem 4.5APE
Problem 4.5BPE
Problem 4.6APE
Problem 4.6BPE
Problem 4.1EX
Problem 4.2EX
Problem 4.3EX
Problem 4.4EX
Problem 4.5EX
Problem 4.6EX
Problem 4.7EX
Problem 4.8EX
Problem 4.9EX
Problem 4.10EX
Problem 4.11EX
Problem 4.12EX
Problem 4.13EX
Problem 4.14EX
Problem 4.15EX
Problem 4.16EX
Problem 4.17EX
Problem 4.18EX
Problem 4.19EX
Problem 4.20EX
Problem 4.21EX
Problem 4.22EX
Problem 4.23EX
Problem 4.24EX
Problem 4.25EX
Problem 4.26EX
Problem 4.27EX
Problem 4.28EX
Problem 4.1APR
Problem 4.2APR
Problem 4.3APR
Problem 4.4APR
Problem 4.5APR
Problem 4.1BPR
Problem 4.2BPR
Problem 4.3BPR
Problem 4.4BPR
Problem 4.5BPR
Problem 1COP
Problem 1CPP
Problem 4.1CP
Problem 4.2CP
Problem 4.3CP
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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
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Accounting cycle

From the following list of steps in the accounting cycle, identify what two steps are missing:

a.    Transactions are analyzed and recorded in the journal.

b.    An unadjusted trial balance is prepared.

c.    Adjustment data are assembled and analyzed.

d.    An optional end-of-period spreadsheet is prepared.

e.    Adjusting entries are journalized and posted to the ledger.

f.    An adjusted trial balance is prepared.

g.    Closing entries are journalized and posted to the ledger.

h.    A post-closing trial balance is prepared.

To determine

Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting transactions of an organization and then processing them. The accounting cycle starts when a transaction takes places and it ends at the time when these transactions are recorded in the financial statements of the company.

The steps of accounting cycle are as listed below:

Step 1: Analyze and record the business transactions s in the general journal as they occur.

Step 2: Post the journal entries to their respective ledger accounts.

Step 3: Prepare an unadjusted trial balance by using the unadjusted balances of each account.

Step 4: Assemble and evaluate the adjustment data.

Step 5: Prepare a worksheet for the year ended (optional).

Step 6: Journalize the adjusting entries disclosed at the year-end and post the adjusting entries in their respective ledger accounts.

Step 7:  Prepare an adjusted trial balance.

Step 8: Prepare financial statements such as income statement, statement of owners’ equity, and balance sheet.

Step 9: Journalize and post the closing entries to close all the necessary accounts.

Step 10: Prepare the post-closing trial balance.

To Identify: The missing steps in accounting cycle.

Explanation

Step 2: Post the journal entries to their respective ledger accounts...

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Ch-4 P-1DQCh-4 P-2DQCh-4 P-3DQCh-4 P-4DQCh-4 P-5DQCh-4 P-6DQCh-4 P-7DQCh-4 P-8DQCh-4 P-9DQCh-4 P-10DQ
Ch-4 P-4.1APECh-4 P-4.1BPECh-4 P-4.2APECh-4 P-4.2BPECh-4 P-4.3APECh-4 P-4.3BPECh-4 P-4.4APECh-4 P-4.4BPECh-4 P-4.5APECh-4 P-4.5BPECh-4 P-4.6APECh-4 P-4.6BPECh-4 P-4.1EXCh-4 P-4.2EXCh-4 P-4.3EXCh-4 P-4.4EXCh-4 P-4.5EXCh-4 P-4.6EXCh-4 P-4.7EXCh-4 P-4.8EXCh-4 P-4.9EXCh-4 P-4.10EXCh-4 P-4.11EXCh-4 P-4.12EXCh-4 P-4.13EXCh-4 P-4.14EXCh-4 P-4.15EXCh-4 P-4.16EXCh-4 P-4.17EXCh-4 P-4.18EXCh-4 P-4.19EXCh-4 P-4.20EXCh-4 P-4.21EXCh-4 P-4.22EXCh-4 P-4.23EXCh-4 P-4.24EXCh-4 P-4.25EXCh-4 P-4.26EXCh-4 P-4.27EXCh-4 P-4.28EXCh-4 P-4.1APRCh-4 P-4.2APRCh-4 P-4.3APRCh-4 P-4.4APRCh-4 P-4.5APRCh-4 P-4.1BPRCh-4 P-4.2BPRCh-4 P-4.3BPRCh-4 P-4.4BPRCh-4 P-4.5BPRCh-4 P-1COPCh-4 P-1CPPCh-4 P-4.1CPCh-4 P-4.2CPCh-4 P-4.3CP

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