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Accounting Cycle From the following list of steps in the accounting cycle, identify what two steps are missing: Transactions are analyzed and recorded in the
Accounting Cycle
From the following list of steps in the accounting cycle, identify what two steps are missing:
- Transactions are analyzed and recorded in the journal.
- An unadjusted trial balance is prepared.
- Adjustment data are assembled and analyzed.
- An optional end-of-period spreadsheet is prepared.
- Adjusting entries are journalized and posted to the ledger.
- An adjusted trial balance is prepared.
- Closing entries are journalized and posted to the ledger.
- A post-closing trial balance is prepared.
Select the steps in the accounting cycle in their proper order in order and include the two missing steps.
1. | |
2. | |
3. | |
4. | |
5. | |
6. | |
7. | |
8. | |
9. | |
10. |
Options are:
- Adjustment data are assembled and analyzed.
- Transactions are analyzed and recorded in the journal.
- An adjusted trial balance is prepared.
- An optional end-of-period spreadsheet is prepared.
- Closing entries are journalized and posted to the ledger.
- Adjusting entries are journalized and posted to the ledger.
- A post-closing trial balance is prepared.
- Transactions are posted to the ledger.
- An unadjusted trial balance is prepared.
- Financial statements are prepared.
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