This exercise will review the proper sequence of the required steps in the accounting cycle.
The required steps in the accounting cycle are listed in random order below.
|
a. |
Prepare an adjusted trial balance. |
|
b. |
Analyze business transactions. |
|
c. |
Prepare a post-closing trial balance. |
|
d. |
Prepare a trial balance. |
|
e. |
Prepare financial statements. |
|
f. |
Post to ledger accounts. |
|
g. |
Journalize and post adjusting entries. |
|
h. |
Journalize and post-closing entries. |
|
i. |
Journalize the transactions. |
Instructions
Indicate the proper sequence of the steps by numbering them “1,” “2,” and so forth in the spaces provided.
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