Rearrange the following steps in the accounting cycle in proper sequence:
a. Financial statements are prepared.
b. An adjusted trial balance is prepared.
c. Adjustment data are asssembled and analyzed.
d. Adjusting entries are journalized and posted to the ledger.
e. Closing entries are journalized and posted to the ledger.
f. An unadjusted trial balance is prepared.
g. Transactions are posted to the ledger.
h. Transactions are analyzed and recorded in the journal.
i. An optional end-of-period spreadsheet (work sheet) is prepared.
j. A post-closing trial balance is prepared.
Answer:
1. h
2. g
3. f
4. c
5. i
6. d
7. b
8. a
9. e
10. j