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May I get some help on this: The following nine steps that constitute the accounting cycle are in column 3 in scrambled order. In the
May I get some help on this:
The following nine steps that constitute the accounting cycle are in column 3 in scrambled order. In the right most column is a brief statement of the objective of each step, also in scrambled order. 3, a. c. Matching Sequence (step with (ordering) objective) Step Objective Record. Verification after closing entries. Prepare adjusted trial balance. b. Communication to outside (and potential) Identify transactions. stakeholders. Prepare financial statements. Verification before adjusting entries. Record and post closing entries. d. Transfer from journal to ledger. Post. e. Recording of resource changes not Identify, record, and post adjust- accompanied by new source documents. ing entries. f. An activity based on source documents. Prepare unadjusted trial balance. Prepare post-closing trial g. An original input into the accounting system. balance. h. Obtaining a zero balance in the revenue, expense, and dividend accounts. i. Verification after adjusting entries. Required In the first column, indicate the sequential order, 1 through 9, for each of the accounting steps in column 3. b. In the second column, indicate the corresponding letter, a through i, of the description that best matches each accounting step in column 3. aStep by Step Solution
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