teps in the Accounting Cycle

Question

Rearrange the following steps in the accounting cycle in proper sequence:

Accounting Cycle Steps
a. A post-closing trial balance is prepared.
b. Adjustment data are asssembled and analyzed.
c. Adjusting entries are journalized and posted to the ledger.
d. An adjusted trial balance is prepared.
e. An optional end-of-period spreadsheet is prepared.
f. An unadjusted trial balance is prepared.
g. Closing entries are journalized and posted to the ledger.
h. Financial statements are prepared.
i. Transactions are analyzed and recorded in the journal.
j. Transactions are posted to the ledger.

Answer 1

Here are the steps in the accounting cycle arranged in proper sequence:

1. i. Transactions are analyzed and recorded in the journal.
2. j. Transactions are posted to the ledger.
3. f. An unadjusted trial balance is prepared.
4. b. Adjustment data are assembled and analyzed.
5. c. Adjusting entries are journalized and posted to the ledger.
6. d. An adjusted trial balance is prepared.
7. e. An optional end-of-period spreadsheet is prepared.
8. h. Financial statements are prepared.
9. g. Closing entries are journalized and posted to the ledger.
10. a. A post-closing trial balance is prepared.