FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
From the following list of steps in the accounting cycle, identify what two steps are missing:
a. Transactions are analyzed and recorded in the journal.
b. Transactions are posted to the ledger.
c. An unadjusted
d. An optional end-of-period spreadsheet is prepared.
e.
f. An adjusted trial balance is prepared.
g. Financial statements are prepared.
h. A post-closing trial balance is prepared.
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- An optional step in the account cycle is the preparation of:arrow_forwardStudypug.com Recliner Company wants to verify that all of its accounts are in balance. Which of the following will be prepared for this purpose? a.Balance sheet b.General ledger c.Trial balance d.Chart of accountsarrow_forwardWhich of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledgerarrow_forward
- 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. Journalizingarrow_forwardHello, can you help me with questions 7,8, and 9 please, thanks!arrow_forwardThe first required step in the accounting cycle is: O journalizing transactions, posting transactions.. Oanalyzing transactions. O adjusting entries.arrow_forward
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