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Accounting Information Systems 8th Edition by James Hall
Edition 8ISBN: 978-1111972141Accounting Information Systems 8th Edition by James Hall
Edition 8ISBN: 978-1111972141 Exercise 25
FINANCIAL REPORTING PROCESS
The following contains the various steps of the financial reporting process. Place these steps in the proper order, and indicate whether each step is a function of the TPS, GLS, or FRS.
• Record transaction in special journal
• Make adjusting entries
• Capture the transaction
• Prepare the post-closing trial balance
• Prepare the adjusted trial balance
• Prepare the financial statements
• Journalize and post the adjusting entries
• Post to the subsidiary ledger
• Post to the general ledger
• Journalize and post the closing entries
• Prepare the unadjusted trial balance
The following contains the various steps of the financial reporting process. Place these steps in the proper order, and indicate whether each step is a function of the TPS, GLS, or FRS.
• Record transaction in special journal
• Make adjusting entries
• Capture the transaction
• Prepare the post-closing trial balance
• Prepare the adjusted trial balance
• Prepare the financial statements
• Journalize and post the adjusting entries
• Post to the subsidiary ledger
• Post to the general ledger
• Journalize and post the closing entries
• Prepare the unadjusted trial balance
Explanation
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Financial Reporting Process
It is the p...
Accounting Information Systems 8th Edition by James Hall
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