The Accounting Cycle

Question 1

Step 1

Answer 1

Collect and Analyze Transactions

Question 2

Step 2

Answer 2

Record/Post transactions to ledger

Question 3

Step 3

Answer 3

Prepare an unadjusted trial balance

Question 4

Step 4

Answer 4

Prepare adjusting entries at the end of the period

Question 5

Step 5

Answer 5

Prepare an adjusted trial balance

Question 6

Step 6

Answer 6

Prepare financial statements