Accounting Cycle Flashcards
1
Q
1.
A
Analyze Source Documents
2
Q
2
A
Journal entries are recorded
3
Q
3
A
Transactions are posted to accounts/ledger
4
Q
4
A
Unadjusted trial balance is prepared
5
Q
5
A
adjusting entries are analized, journalized and posted
6
Q
6
A
adjusted trial balance is prepared
7
Q
7
A
Financial statements - Net income, Owners equity, Balance sheet
8
Q
8
A
Closing entries are journalized and posted
9
Q
9
A
Post-closing trial balance is prepared
