List the following steps of the accounting cycle in their proper order. Use the form provided in
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List the following steps of the accounting cycle in their proper order. Use the form provided in your working papers or a separate sheet of paper.
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Analyzing business transactions Collecting and verifying source documents Completing the work sheet Journalizing business transactions Journalizing and posting adjusting entries Journalizing and posting closing entries Posting journal entries to ledgers Preparing financial statements Preparing a post-closing trial balance Preparing a trial balance
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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