Question
Accountants follow a consistent cycle each reporting period that begins by deciding if a transaction should be recorded and ending with the post-closing trial balance.
Accountants follow a consistent cycle each reporting period that begins by deciding if a transaction should be recorded and ending with the post-closing trial balance. Consider this cycle, which of the following answer choices is in the correct order of the tasks performed by the accountant:
a. Journalize (general journal) -> post to the ledger/ T-Accounts -> prepare the initial trial balance -> post adjusting journal entries-> prepare the adjusted trial balance-> prepare the financial statements -> record the post-close entries-> prepare the post-closing trial balance.
b. Journalize (general journal) -> post to the ledger/ T-Accounts -> prepare the adjusted trial balance-> prepare the financial statements -> prepare the post-close trial balance.
c. None of these answer choices shows in part or in whole the correct sequence of the accounting cycle
d. No answer text provided
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