Listed below are the steps in the accounting cycle: 1. Analyze business transactions. 2. Journalize the transactions.
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Question:
Listed below are the steps in the accounting cycle:
1. | Analyze business transactions. |
2. | Journalize the transactions. |
3. | Post to general ledger accounts. |
4. | Prepare a trial balance. |
5. | Journalize and post adjusting entries. |
6. | Prepare an adjusted trial balance. |
7. | Prepare financial statements. |
8. | Journalize and post closing entries. |
9. | Prepare a post-closing trial balance. |
Instructions
Beside each step determine if the step can be performed daily (D), periodically (P) such as monthly, quarterly, or annually, or only performed annually (A).
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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