Step 1: Analyze transactions: I

Step 2: Journalize:

Step 3:

Step 4: Prepare unadjusted trial balance: .

Step 5: Adjust:

Step 6: Prepare adjusted trial balance:

Step 7: Prepare statements:

Step 8: Close:

Step 9: Post-Closing trial balance:

Step 10: Reverse:

Q2. In chapter 3, slide 42, there is a summary of the accounting cycle. Describe each step. (2 Marks) The Accounting Cycle Start 10. Reverse (optional) 9. Prepare post-closing trial balance 1. Analyze transactions 8. Close 2. Journalize 3. Post 7. Prepare statements 4. Prepare unadjusted trial balance 5. Adjust 6. Prepare adjusted trial balance