Question
2. The following are the steps in the financial accounts compilation, using a spread sheet approach. List the steps in the correct order in which
2. The following are the steps in the financial accounts compilation, using a spread sheet approach. List the steps in the correct order in which they are to be completed, given the list of ledger accounts at fiscal year-end:
(Simply match the letter with the number in the box). a. Prepare adjusted trial balance f. Post transactions b. Prepare an unadjusted trial balance g. Journalize transactions c. Prepare the income summary. h. Close the temporary accounts d. Adjust the ledger accounts j. Prepare a post-closing trial balance e. Analyze transactions
1. | 4. | 7. |
2. | 5. | 8. |
3. | 6. | 9. |
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