This is an Calculation Assignment. Assume a financial transaction as in August 2020 From a chosen company or from your Own so you can do the 9 steps from that Business Cycle Steps, Cover the 9 steps in Business Cycle in Separated Tables From your Financial Transaction . PLEASE DO COVER ALL THE 9 STEPS CORRECTLY as they are all related and - please Do all of the steps according to your assume transactions otherwise its not acceptable and correctly. Do them in Separated Tables.
What is the Accounting Cycle
Accounting Cycle is a process of identifying, collecting and summarizing financial transactions of the business with the objective of generating useful information in the form of three financial statements namely Income Statement, Balance Sheet and Cash Flows. It starts with an accounting transaction and ends when the books of accounts get closed.
9 Steps of the Accounting Cycl
Step 1 – Collection of data and analysis of transactions:
Step 2 – Journalizing:
Step 3 – Recording the journals into the ledger accounts:
Step 4 – Creating an unadjusted trial balance:
Step 5 – Performing adjusting entries:
Step 6 – Creating adjusted trial balance:
Step 7 – Creating financial statements from the trial balance:
This step of the accounting cycle is the most critical part. As an investor, you must know how and from where all the financial statements are coming. From the adjusted trial balance, all the financial statements are born. Adjusted trial balance prepares four important financial statements:
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Step 8 – Closing the books:
Step 9 – Creating a post-closing trial balance:
Conclusion
If an investor can understand these nine steps of the accounting cycle, it would be clear to her how she should approach the company and its progress or decline. The knowledge of this cycle will help her decide whether she should invest in the company or not. And at the same time, she would get a concrete idea about the financial accounting of the company.
This is an Calculation Assignment. Assume a financial transaction as in August 2020 From a chosen company...
This is an Calculation Assignment not Writing Assignment, The Scope of the Question is About Assuming a financial transaction as in August 2020 Transaction then Analyze it by shown the impact of these transaction on the accounting, then implement the Accounting Cycle ( 9 Steps with the Calculation ) on these transaction. Assume your own Transaction Given and Cover all The business Cycle Transaction Structure for these Transactions. Cover the 9 steps in Business Cycle. You need to Assume Transactions...
This is an Calculation Assignment not Writing Assignment, The Scope of the Question is About Assuming a financial transaction as in August 2020 Transaction then Analyze it by shown the impact of these transaction on the accounting, then implement the Accounting Cycle ( 9 Steps with the Calculation ) on these transaction. Assume your own Transaction Given and Cover all The business Cycle Transaction Structure for these Transactions. Cover the 9 steps in Business Cycle. PLEASE DO COVER ALL THE...
This is a Calculation Assignment, not a Writing Assignment, The Scope of the Question is About Assuming a financial transaction as in the August 2020 Transaction then Analyze it be showing the impact of these transactions on the accounting, then implement the Accounting Cycle ( 9 Steps with the Calculation ) on this transaction. Assume your own Transaction Given and Coverall The business Cycle Transaction Structure for these Transactions. Cover the 9 steps in the Business Cycle. PLEASE DO COVER...
Assume that you are the Financial Accountant of a newly started business from your chosen in August 2020 FIRST ASSIGNMENT (1) Step 1 – Analyze Business Transactions (Accounting Cycle) You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation! SECOUND ASSIGNMENT (2) Step 7 Accounting Cycle – Prepare Financial Statements You are requested using the information of Step 1 to prepare...
please help me with compelet calculation its asking me to do a plan for small business and put all the data with my self ( number's, transaction , analyz , amount , and on next to step calculate it ) like we make a question and answer assume that you are the Financial Accountant of a newly started business from your chosen in August 2020(with the calculation) Q1. Step 1 - Analyze Business Transactions (Accounting Cycle) You are requested to...
Step 1 – Analyze Business Transactions (Accounting Cycle) Assume that you are the Financial Accountant of a newly started business from your chosen in August 2020: You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation! Step 7 Accounting Cycle – Prepare Financial Statements You are requested using the information of Step 1 to prepare the financial statements of your chosen...
The question asked to assume the financial transactions ! so they are not given in the question, we have to assume them Step 1 -Analyze Business Transactions (Accounting Cycle) Assume that you are the Financial Accountant of a newly started business from your chosen in August 2020: You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation!
Steps in the Accounting Cycle Listed below, out of order, are the steps in an accounting cycle.1. Prepare the unadjusted trial balance.2. Post journal entries to general ledger accounts.3. Analyze transactions from source documents.4. Journalize and post adjusting entries.5. Prepare the financial statements.6. Record transactions in a journal.7. Prepare the post-closing trial balance.8. Prepare the adjusted trial balance.9. Journalize and post closing entries.(a) Place the numbers from the above list in the order in which the steps in the accounting...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not journalized. b. posted to the ledger but not journalized. not journalized until after the financial statements are prepared. d. journalized before the worksheet is completed. 2. The information for preparing a trial balance on a worksheet is obtained from financial statements. b. general ledger accounts. general journal entries. d. business documents. 3. After the adjusting entries are journalized and posted to the accounts in...
What are the financial statement analysis objectives? 1. The following are the steps in the accounting cycle. List them in the order in which they are 2. completed: Prepare adjusted trial balanèe Post transactions Prepare an unadj Journalize trapsacti Prepare the inancrál staterzen Close the temporary accounts Adjust the ledger accounts Prepare a post-closing trial balance Analyze transactions On January 1, a company borrowed $10,000 cash by signing a 9% installment note that is to be repaid with 4 annual...