The Following Are All the Steps in the Accounting Cycle

question 95

Essay

The following are all the steps in the accounting cycle. List them in the order in which they should be done.- 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.

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Definitions:

E-text

Digital text format, such as ebooks or PDF documents, that can be read on computers, e-readers, or other electronic devices.

Backlit Monitors

Display screens that use a light source from behind the panel to illuminate the screen, improving visibility in various lighting conditions.

Local Book Store

A retail establishment that primarily sells books, often offering a selection that may include both new and used books, and may also host community events.

Personal Property

Any item that is movable and not fixed to real estate, including tangible items like cars, furniture, and electronic devices, as well as intangible items like stocks and bonds.