CELEBRITY CONSULTANTS, INC. Accounting Cycle

1. Journalize (record in journal)

2. Post ( to General Ledger) Work Sheet

3. Prepare Unasjared TRIAL BALANCE (use work sheet) justing Entries (use work sheet)

5. Prepare Adjusted TRIAL BALANCE (use worksheet)

6a. Use worksheet to compute Income or Loss in Income Statement column & Balance sheet account totals) Prepare Financial Statements

6. Prepare Financial Statements a. Income Statement b. Statement of Retained Earnings C. Balance Sheet Closing Process

7. Close Temporary Accounts (Revenues, Expenses, Dividends, Income Summary) Post-Closing Trial Balance

8. Prepare Post-closing TRIAL BALANCE