Question: Address the following questions: 1. Between journalizing and posting, which step changes the balance of an account? Explain. 2. What are some key differences between

Address the following questions:
1. Between journalizing and posting, which step changes the balance of an account?
Explain.
2. What are some key differences between each of three trial balances?

Analyzing &
Recording

Posting to the
ledger
(T-Accounts)

Preparing a
Unadjusted
Trial Balance
#1

Adjustments for
accruals and
deferrals

Preparing an
Adjusted Trial
Balance #2

Prepare
Financial
Statements

Closing
Temporary Account

Preparing a
Post-Closing
Trial Balance
#3

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