Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1)what are the steps in completing the accounting

1)What are the steps in completing the accounting cycle? 2)How do the different steps affect the...

90.2K

Verified Solution

Question

Accounting

1)What are the steps in completing the accounting cycle?

2)How do the different steps affect the financialstatements?

3)What is the effect on the financial statements of missing astep when completing the accounting cycle?

4)How do these steps play a roll in accrual basisaccounting?

Answer & Explanation Solved by verified expert
3.6 Ratings (384 Votes)
1 The eight steps in the accounting cycle in order are transactions journal entries posting trial balance worksheet adjusting journal entries financial statements and closing of the books At the end of    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Question 4 ind P 2 for P x 2x 4 2x 3 4x 2 7...

Biology
1.2K views

Jim was born with Tay-Sachs disease. Which of the following organelles is affected if the...

Biology
1.2K views

Question 2 The nucleotides within DNA are composed of a sulfur group ribose sugar and...

Physics
1.2K views

notons with a wavelength of 459 nm in air enter a plate of crown glass...

Physics
1.2K views

For the same angle of incidence angle of refraction of 2 media A and B...

Physics
1.2K views

11 12 4 points In a hydraulic system an input piston has an area of...

Algebra
1.2K views

Round the following decimal to the given place value 12 23978 to the nearest ten...

Accounting
1.2K views

The Parent Teacher Assoclation (PTA) of Meadow High School is planning a fund-raising...

Accounting
1.2K views

Using Xcode and Swift On a blank view, draw the Auburn interlocking AU using the...

Accounting
1.2K views

Elite Lawn & Plowing (EL&P) is a lawn and snow plowing service with both residential...

Accounting
1.2K views

I would really appreciate the help. James Mart's management wants...

Finance
1.2K views

8. Barnes' Bagles is considering manufacturing and selling a new bagel-shaped pizza-thick with a hole...