The Steps in the Accounting Cycle (Excluding the Preparation of the Worksheet)are

question 80

Short Answer

The steps in the accounting cycle (excluding the preparation of the worksheet)are listed below in random order. List the steps in the proper sequence, inserting the number 1 to 11. a) $\text { Prepare a post-closing trial balance}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
b) $\text {Prepare an adjusted trial balance}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
c) $\text {Analyse transactions as they occur}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
d) $\text {Prepare an unadjusted trial balance}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
e) $\text {Compute the adjusted balance in each of the ledger accounts}$$\quad$$\quad$$\quad$$\quad$$\quad$ ----------
f) $\text {Post the journal entries to the ledger accounts}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ --------
g) $\text {Journalize and post the adjusting entries}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
h) $\text {Journalize and post the closing entries}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
i) $\text {Prepare financial statements}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------
j) $\text { Compute the unadjusted balance in each of the ledger accounts}$$\quad$$\quad$$\quad$$\quad$ ---------
k) $\text {Journalize the transactions}$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ ---------

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Definitions:

Bile

Bile is a digestive fluid produced by the liver and stored in the gallbladder that aids in the digestion and absorption of fats in the small intestine.

Pepsinogen

The inactive precursor of pepsin, an enzyme that breaks down proteins in the stomach.

Ileocecal Valve

A valve located between the ileum (last portion of the small intestine) and the cecum (first part of the large intestine) that controls the flow of digested food.

Pyloric Sphincter

A muscular valve regulating the flow of food from the stomach to the duodenum of the small intestine.