Of the following steps of the accounting cycle, which step should be completed last? a.Transactions are posted to the ledger. b.An adjusted trial balance is prepared. c.An unadjusted trial balance is prepared. d.Adjusting entries are journalized and posted to the ledger.

Of the following steps of the accounting cycle, which step should be completed last? a.Transactions are posted to the ledger. b.An adjusted trial balance is prepared. c.An unadjusted trial balance is prepared. d.Adjusting entries are journalized and posted to the ledger.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter3: The General Journal And The General Ledger

Section: Chapter Questions

Problem 5E: Arrange the following steps in the posting process in correct order: a. The amount of the balance of...

See similar textbooks

Related questions

Q: The recurring steps performed each accounting period, starting with analyzing and recording…

A: Accounting is the process of identifying, recording, classifying, summarising, analysing and…

Q: Which of the following steps of the accounting cycle is not completed at the end of the period? a.…

A: Accounting Cycle: The accounting cycle is the set of processes beginning with recording of…

Q: Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (

A: Given:

Q: The trial balances of Orton Company follow with the accounts arranged in alphabetical order. Analyze…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: In the accounting process, financial statements must be prepared _________ A. After the adjusting…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: From the following list of steps in the accounting cycle, identify what two steps are missing:…

A: Accounting cycle: The accounting cycle is a step by step process of analyzing, classifying, and…

Q: Which is the correct order of the following steps in the accounting cycle? Group of answer choices…

A: The accounting cycle start with journal entry , ledger , unadjusted trial balance, adjusting entries…

Q: What are journal entries called that bring the accounts up-to-date at the end of the accounting…

A: Journal entries are the primary recording makes in the books of account. All the transactions are…

Q: When preparing a worksheet, real accounts in the a trial balance are extended to the a. Balance…

A: Solution: Real accounts are those accounts which are related to the material assets and liabilities…

Q: 1. Number in order the following steps in the accounting cycle: a. Prepare a trial balance. b. Post…

A: The accounting cycle is the procedure of recording the financial transactions in the books of…

Q: For each account, identify whether it is included in a post- closing trial balance. Included in…

A: All the temporary accounts like expenses, revenus and dividends are closed and are not shown in the…

Q: A. Analyze business transactions. B. Journalize the transactions. C. Post to ledger accounts. D.…

A: SOLUTION ACCOUNTING CYCLE IS A COLLECTIVE PROCESS IDENTIFYING ,ANALYSING AND RECORDING THE…

Q: Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have…

A: Adjusted Trial balance is the summary of all adjusted general ledger balances in the business. This…

Q: An adjusted trial balance a. Lists all accounts and their balances at a particular date after…

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: The purpose of adjusting entries is to:a. Adjust the Retained Earnings account for the…

A: Adjusting entries are those entries which are passed at the end of accounting period for the…

Q: Number in their proper order the following steps in the accounting cycle. a. Prepare a trial…

A: Answer The accounting cycle is a process which begins with analyzing the documents, after analyzing…

Q: a post-adjustment trial balance reflects the balances and totals of accounts in the general ledger…

A: Trial balance: It is worksheet which shows all the accounts an organization has like assets,…

Q: Which is a logical order in the accounting cycle? A. Posting, financial statements and unadjusted…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Prepare a ledger, trial balance, and prepare adjusting entries

A: The following points are to be kept in mind while preparing entries, ledger and trial balance: 1.…

Q: A brief paragraph stating why there is a need for adjusting and closing entries in the accounting…

A: Accounting is the process of recording, summarizing, and analyzing business transactions so as to…

Q: From the following list of steps in the accounting cycle, identify what two steps are missing:a.…

A: Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting…

Q: Rearrange the following steps in the accounting cycle in proper sequence:a. Transactions are…

A: Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting…

Q: From the following list of steps in the accounting cycle, identify what two steps are missing:…

A: Accounting is a process of summarising, recording, analyzing, and evaluating the accounting…

Q: G se or erify that the end-of-period spreadsheet is in b verify that the adjusted trial balance at…

A: Post closing trial balance contains permanent account balances. These are balance sheet items which…

Q: Which of the following is NOT the correct about Trial Balance? Select one: O A. All debit balances…

A: Trial balance means the statement which is prepared after the ledgers has been prepared , to check…

Q: Of the following, which step is not a requirement during the accounting cycle? O a. An end-of-period…

A: Eight important steps of the accounting cycle: 1. Identify transaction. 2. Record Transaction 3.…

Q: List the following steps of the accounting cycle in their proper order. Steps 1. Posting journal…

A: >Accounting cycle is the flow or steps carried out to complete the accounting process. These are…

Q: The steps in the accounting cycle are listed in random order below. List the steps in proper…

A: Accounting Cycle - Accounting Cycle is a process of identifying, analyzing, and recording the…

Q: List the following steps of the accounting cycle in their proper order. a. Posting the journal…

A: Given: The steps of the accounting cycle are given. To arrange it in the correct order.

Q: The following are all the steps in the accounting cycle. List them in the order in which they…

A: Accounting Cycle: Accounting cycle refers to the process of recording a business transaction in the…

Q: The complete accounting process that begins with analyzing and journalizing transactions and ends…

A: The eight steps of the accounting cycle are as follows: identifying transactions, recording…

Q: Which of the following steps of the accounting cycle is not completed at the end of the period?…

A: Accounting Cycle: The accounting cycle refers to the entire process of recording the accounting…

Q: The purpose of the post-closing trial balance is to * prove that no mistakes were made. prove the…

A: A post closing trial balance is the trial balance that contains a company's closing entries for an…

Q: What is the Income statement, statement of owners equity, and balance sheet It is the last step…

A: Income Statement: It reports financial performance in terms of profit or loss for a specific period.…

Q: List (a) through (j) in the order they would be performed in preparing and completing an…

A: Spreadsheet: A spreadsheet is a worksheet. It is used while preparing a financial statement. It is a…

Q: When an entry is made in the general journal, accounts to be increased should be listed first. O…

A: Introduction: General Journal: A general journal is a diary that contains all of a company's…

Q: he accounting cycle starts with the: a. preparation of trial balance b. preparation of adjusting…

A: Solution: The accounting cycle starts with the "analysis of business transaction". This is because…

Q: Put the following steps in the accounting cycle in the correct order (1-9). Journalize transactions…

Q: Listed below in random order are the eight steps comprising a complete accounting cycle:Prepare a…

Q: The required steps in the accounting cycle are listed in random order below. List the steps in…

A: Accounting Cycle: Accounting cycle refers to the process of recording a business transaction in the…

Q: Which of the following accounts ordinarily appears in the post-closing trial balance? Hint:…

A: The financial statement shows the financial data of the company that is used by various financial…

Q: If a journal entry includes a debit or credit to the retained earnings account, it is most likely…

A: Journal: Recording of a business transaction in a chronological order.

Question

Of the following steps of the accounting cycle, which step should be completed last?

a.Transactions are posted to the ledger.

b.An adjusted trial balance is prepared.

c.An unadjusted trial balance is prepared.

d.Adjusting entries are journalized and posted to the ledger.

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

teps in the Accounting Cycle Rearrange the following steps in the accounting cycle in proper sequence: a. Transactions are analyzed and recorded in the journal. b. An unadjusted trial balance is prepared. c. Transactions are posted to the ledger. d. Adjustment data are assembled and analyzed. e. An adjusted trial balance is prepared. f. Adjusting entries are journalized and posted to the ledger. g. An optional end-of-period spreadsheet is prepared. h. A post-closing trial balance is prepared. i. Financial statements are prepared. j. Closing entries are journalized and posted to the ledger.
Rearrange the following steps in the accounting cycle in proper sequence:a. Transactions are analyzed and recorded in the journal.b. An unadjusted trial balance is prepared.c. Transactions are posted to the ledger.d. Adjustment data are assembled and analyzed.e. An adjusted trial balance is prepared.f. Adjusting entries are journalized and posted to the ledger.g. An optional end-of-period spreadsheet is prepared.h. A post-closing trial balance is prepared.i. Financial statements are prepared.j. Closing entries are journalized and posted to the ledger.
Rearrange the following steps in the accounting cycle in proper sequence: Transactions are analyzed and recorded in the journal. An unadjusted trial balance is prepared. Transactions are posted to the ledger. Adjustment data are assembled and analyzed. An adjusted trial balance is prepared. Adjusting entries are journalized and posted to the ledger. An optional end-of-period spreadsheet is prepared. A post-closing trial balance is prepared. Financial statements are prepared. Closing entries are journalized and posted to the ledger.
Transferring journal entries to the ledger accounts is called posting and should be performed in chronological order. True of false
Order the following steps in the accounting process that focus on analyzing and recording transactions. a. Prepare and analyze the trial balance. b. Analyze each transaction from source documents. c. Record relevant transactions in a journal. d. Post journal information to ledger accounts.
Number in their proper order the following steps in the accounting cycle. a. Prepare a trial balance. b. Post to the general ledger accounts. c. Journalize and post the closing entries. d. Complete an end-of-period work sheet. e. Prepare a post-closing trial balance. f. Journalize and post the adjusting entries. g. Analyze source documents. h. Record the adjusting entries on a work sheet. i. Journalize the transactions. j. Prepare the financial statements.
Build a ledger and trial balance based on the journal entries.
Balance off the accounts in the ledger and extract a trial balance
a. Calculate the final balance of each ledger account. PLEASE SEE ATTACHED FOR WORK
A. Enter the transactions in the general ledger (t-accounts) and balance off these accounts B. Extract a Trial Balance
Posting: involves transferring the information in journal entries to the general ledger. is an optional step in the accounting cycle. is performed after a trial balance is prepared. involves transferring information to the trial balance.
Arrange the following steps in the posting process in correct order: a. The amount of the balance of the ledger account is recorded in the Debit Balance or Credit Balance column. b. The amount of the transaction is recorded in the Debit or Credit column of the ledger account. c. The ledger account number is recorded in the Post. Ref. column of the journal. d. The date of the transaction is recorded in the Date column of the ledger account. e. The page number of the journal is recorded in the Post. Ref. column of the ledger account.