Listed below are the steps in the accounting cycle:1.Analyze business transactions.2.Journalize the transactions.3.Post to general...
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Accounting
Listed below are the steps in the accounting cycle:
| 1. | Analyze business transactions. |
| 2. | Journalize the transactions. |
| 3. | Post to general ledger accounts. |
| 4. | Prepare a trial balance. |
| 5. | Journalize and post adjusting entries. |
| 6. | Prepare an adjusted trial balance. |
| 7. | Prepare financial statements. |
| 8. | Journalize and post closing entries. |
| 9. | Prepare a post-closing trial balance. |
Instructions
Beside each step determine if the step can be performed daily (D), periodically (P) such as monthly, quarterly, or annually, or only performed annually (A).
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