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.

Complete the statement: closing entries ________ A.    Reflect the net income for the accounting period B.    Are also posted in the subsidiary ledgers C.    Involve all ledger accounts D.    Are recorded in the special journals The process wherein transactions are recorded in the journal are transferred to the appropriate accounts in the general ledger and subsildiary ledgers, if appropriate, is called ___________ A.    Ledgering B.    Analyzing C.    Posting D.    Journalizing

The first required step in the accounting cycle is: O journalizing transactions, posting transactions.. Oanalyzing transactions. O adjusting entries.

The accounting cycle represents the sequence of steps in the accounting process completed during the fiscal period.  Select one: True False