PART I. General Ledger System Overview

Draw a diagram depicting the relationship between the general ledger master file, control accounts,subsidiary files and the financial statements.

PART II. Financial Reporting Process

The following contains the various steps of the financial reporting process. Arrange them in proper order and indicate whether each step is a function of the TPS, GLS pr FRS.,

*Record transaction in special journal.

*Make adjusting entries.

*Capture the transaction.

*Prepare the postclosing trial balance.

*Prepare the adjusted trial balance.

*Prepare the sales invoices.

*Prepare the financial statements.

*Journalize and post the adjusting entries.

*Post to the subsidiary ledger.

*Post to the general ledger.

*Issue Official Receipts.

*Journalize and post the closing entries.

*Prepare the unadjusted trial balance.