The last step in the manual accounting cycle before the preparation of ... The last step in the manual accounting cycle before the preparation of financial statements is: Select one: a. Determine adjusting entries b. Record journal entries and post to the ledger c. Post adjusting entries to the general journal O d. Prepare an adjusted trial balance What is a stocktake? What is a stocktake? Select one: a. Carrying value of goods sold during a particular period O b. The goods and materials that a business holds for the ultimate goal of resale c. Counting all inventory units on hand O d. Routine reduction from the regular, established price of a product ABC collects rents from several properties. Prior to recording adjusting... ABC collects rents from several properties. Prior to recording adjusting entries, assume the Rent Revenue account har credit balance of $8000. Two adjustments are to be made at the end of the financial year: an accrual for accrued rent revenue of $600 is to be recorded and the Unearned Rent Revenue account is to be decreased by $200. After processing these adjusting entries the Rent Revenue account has a balance of: Select one: a. $8400 b. $7600 c. $8800 d. $7200 An account that is always deducted from a related account is known as a: An account that is always deducted from a related account is known as a: Select one: a. Contra account b. Negative account c. Temporary account O d. Carrying account