STEPS OF ACCOUNTING CYCLE

WHAT IS THE CORRECT ORDER

1. IDENTIFY A TRANSACTION
2. DETERMINE WITH ACCOUNT ARE NEEDED FOR THE ENTRY
3. RECORD ENTRIES IN THE GENERAL JOURNAL
4. POST ENTRIES TO THE GENERAL LEDGER
5. A BALANCE SHEET
6. RUN A TRIAL BALANCE
7. JOURNAL ADJUSTING ENTRIES
8. POST ADJUSTING ENTRIES TO THE GENERAL LEDGER
9. ADJUSTED TRAIL BALANCE
10. PREPARE THE STATEMENT OF OWNER EQUITY
11. PREPARE THE INCOME STATEMENT
12. PREPARED THE CLOSING ENTRIES
13. POST THE CLOSING ENTRIES
14. POST CLOSING TRIAL