List the accounting cycle steps in proper order.
| Record and post adjusting entries. | |
| Post the transaction to the T-account in the general ledger. | |
| Record the transaction. | |
| Prepare financial statements (income statement, statement of stockholders' equity, | |
| balance sheet, and statement of cash flows). | |
| Record and post closing entries. | 9 |
| Prepare a trial balance. | |
| Analyze the impact of the transaction on the accounting equation. | |
| Assess whether the transaction results in a debit or a credit to the account balance. | |
| Use source documents to identify accounts affected by external transactions. |
Homework Answers
Add Answer to:
List the accounting cycle steps in proper order. Record and post adjusting entries. Post the transaction...
Exercise 3-6A Organize the steps in the accounting cycle (LO3-3, 3-4, 1 List the accounting cycle...
Exercise 3-6A Organize the steps in the accounting cycle (LO3-3, 3-4, 1 List the accounting cycle steps in proper order. Record and post adjusting entries. Post the transaction to the T-account in the general ledger. Record the transaction. Prepare financial statements (income statement, statement of stockholders' equity, balance sheet, and statement of cash flows). Record and post closing entries. Prepare a trial balance. Analyze the impact of the transaction on the accounting equation. Assess whether the transaction results in a...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
Steps in the Accounting Cycle Listed below, out of order, are the steps in an accounting cycle.
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...
BE2-1 Below are the steps in the measurement process of external transactions. Arrange them from first...
BE2-1 Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6). a. Post the transaction to the T-accounts in the general ledger. b. Assess whether the impact of the transaction results in a debit or credit to account balances. c. Use source documents to identify accounts affected by an external transaction. d. Analyze the impact of the transaction on the accounting equation. e. Prepare a trial balance. f. Record the transaction...
Accounting CycleFrom the following list of steps in the accounting cycle,identify what two steps...
Accounting CycleFrom the following list of steps in the accounting cycle, identify what two steps are missing:Transactions are analyzed and recorded in the journal.An unadjusted trial balance is prepared.Adjustment data are assembled and analyzed.An optional end-of-period spreadsheet is prepared.Adjusting entries are journalized and posted to the ledger.An adjusted trial balance is prepared.Closing entries are journalized and posted to the ledger.A post-closing trial balance is prepared.Select the steps in the accounting cycle in their proper order in order and include the...
From the following list of steps in the accounting cycle, identify what two steps are missing:
From the following list of steps in the accounting cycle, identify what two steps are missing:a. Transactions are analyzed and recorded in the journal.b. An unadjusted trial balance is prepared.C. Adjustment data are assembled and analyzed.d. An optional end-of-period spreadsheet is prepared.e. Adjusting entries are journalized and posted to the ledger.f. An adjusted trial balance is prepared.g. Closing entries are journalized and posted to the ledger.h. A post-closing trial balance is prepared.Select the steps in the accounting cycle in their...
Which of the following steps of the accounting cycle are in the correct order? a.prepare a...
Which of the following steps of the accounting cycle are in the correct order? a.prepare a trial balance, make adjustments, prepare financial statements b.prepare a trial balance, post to general ledger accounts, journalize adjusting and closing entries c.prepare financial statements, make adjustments, prepare a trial balance d.make adjustments, complete a work sheet, post to general ledger accounts
PE 4-5A Accounting cycle 08.4 From the following list of steps in the accounting cycle, identify...
PE 4-5A Accounting cycle 08.4 From the following list of steps in the accounting cycle, identify what two steps are missing: a. Transactions are analyzed and recorded in the journal. b. An unadjusted trial balance is prepared. c. Adjustment data are assembled and analyzed. d. An optional end-of-period spreadsheet is prepared. e. Adjusting entries are journalized and posted to the ledger. f. An adjusted trial balance is prepared. 8. Closing entries are journalized and posted to the ledger. h. A...
Arrange the series of accounting activities listed here for the accounting cycle for a service business....
Arrange the series of accounting activities listed here for the accounting cycle for a service business. Indicate the sequence of the steps by entering a number from 1 to 8 to the left of each activity. (p. 228) Accounting Activity _______ A work sheet, including a trial balance, is prepared from the general ledger. _______ Transactions, from information on source documents, are recorded in a journal. _______ Source documents are checked for accuracy, and transactions are analyzed into debit and credit parts. _______ Adjusting entries...
a. c. a. 1. The adjustments entered in the adjustments columns of a worksheet are not...
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...
Exercise 3-6A Organize the steps in the accounting cycle (LO3-3, 3-4, 1 List the accounting cycle steps in proper order. Record and post adjusting entries. Post the transaction to the T-account in the general ledger. Record the transaction. Prepare financial statements (income statement, statement of stockholders' equity, balance sheet, and statement of cash flows). Record and post closing entries. Prepare a trial balance. Analyze the impact of the transaction on the accounting equation. Assess whether the transaction results in a...
What is the correct order of the accounting cycle? Prepare financial statements Record adjusting journal entries and update ledger balances < Prepare unadjusted trial balance > Analyze transactions based on source documents < Record journal entries in general journal and update general ledger > Prepare adjusted trial balance Prepare post closing trial balance < Record closing entries
BE2-1 Below are the steps in the measurement process of external transactions. Arrange them from first (1) to last (6). a. Post the transaction to the T-accounts in the general ledger. b. Assess whether the impact of the transaction results in a debit or credit to account balances. c. Use source documents to identify accounts affected by an external transaction. d. Analyze the impact of the transaction on the accounting equation. e. Prepare a trial balance. f. Record the transaction...
PE 4-5A Accounting cycle 08.4 From the following list of steps in the accounting cycle, identify what two steps are missing: a. Transactions are analyzed and recorded in the journal. b. An unadjusted trial balance is prepared. c. Adjustment data are assembled and analyzed. d. An optional end-of-period spreadsheet is prepared. e. Adjusting entries are journalized and posted to the ledger. f. An adjusted trial balance is prepared. 8. Closing entries are journalized and posted to the ledger. h. A...
Arrange the series of accounting activities listed here for the accounting cycle for a service business. Indicate the sequence of the steps by entering a number from 1 to 8 to the left of each activity. (p. 228) Accounting Activity _______ A work sheet, including a trial balance, is prepared from the general ledger. _______ Transactions, from information on source documents, are recorded in a journal. _______ Source documents are checked for accuracy, and transactions are analyzed into debit and credit parts. _______ Adjusting entries...
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...
Most questions answered within 3 hours.
-
A cohort study is conducted to determine whether smoking is
associated with an increased risk of...
asked 3 seconds from now -
A statistics student finds herself struggling with a newspaper
article stating that only eighteen percent of...
asked 44 seconds ago -
Create the pseudo-code/flowchart for an application class named
Monogram. Its main() method inputs three variables that...
asked 28 seconds ago -
How many liters of water are required to dissolve 1.00 g of
silver chromate? Express your...
asked 3 minutes ago -
Hot: T_inlet = 80, T_out = 65
Cold: T_inlet = 10, T_out = 25
Explain in...
asked 3 minutes ago -
Two protons fly in different directions and collide. They both
have a total energy of 1.5...
asked 12 minutes ago -
What is the oxidation number of each atom in sodium phosphate,
Na3PO4?
>>> SHOW YOUR WORK...
asked 19 minutes ago -
D company purchased goods with a list price of $60000, subject
to trade discounts of 20%...
asked 21 minutes ago -
Transposable elements make up more than 40% of the human genome
and are inserted more-or-less randomly...
asked 32 minutes ago -
Can I get some samples of the following:
1) Write four sentences in first person, singular....
asked 37 minutes ago -
Described how search engines work. Be sure to describe in detail
.
asked 37 minutes ago -
The position of a particle as a function of time is given by
x=(2.0m/s)t+(−3.0m/s3)t^3. Part A...
asked 43 minutes ago