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.

---

Definitions:

Patient-visits

The total number of times patients visit a healthcare provider or facility for services.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations, before any expenses are deducted.

Spending Variances

Differences between the budgeted or planned amounts of spending and the actual amounts spent.

Patient-visits

The total number of times patients are seen or treated by healthcare professionals, typically measured for a specific period.