The following are all the steps in the accounting cycle. List them in the order in which they should be done ( 1 to 10 ). - Closing entries are journalized and posted to the ledger. - An unadjusted trial balance is prepared. - An optional end-of-period spreadsheet (work sheet) is prepared. - A post-closing trial balance is prepared. - Adjusting entries are journalized and posted to the ledger. - Transactions are analyzed and recorded in the journal. - Adjustment data are assembled and analyzed. - Financial statements are prepared. - An adjusted trial balance is prepared. - Transactions are posted to the ledger.
Real Tutor Solution
Answer
Solution
Sign in to Unlock Answers for Free!
A Learning Platform Trusted by Millions of Real Students and Teachers.
Reviewed and approved by the UpStudy tutoring team
Beyond the Answer
1. Transactions are analyzed and recorded in the journal. 2. Transactions are posted to the ledger. 3. An unadjusted trial balance is prepared. 4. Adjustment data are assembled and analyzed. 5. Adjusting entries are journalized and posted to the ledger. 6. An adjusted trial balance is prepared. 7. Financial statements are prepared. 8. Closing entries are journalized and posted to the ledger. 9. A post-closing trial balance is prepared. 10. An optional end-of-period spreadsheet (work sheet) is prepared.