Short Answer
The following are the nine steps in the accounting cycle. Put the steps in the correct order by writing the correct step number beside each step.
_____ Prepare financial statements
_____ Post to ledger accounts
_____ Analyze business transactions
_____ Journalize and post closing entries
_____ Prepare a trial balance
_____ Prepare an adjusted trial balance
_____ Journalize the transactions
_____ Journalize and post adjusting entries
_____ Prepare a post-closing trial balance
Correct Answer:

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__7__ Prepare financial statements
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Q11: Adjustments are journalized and posted only at
Q12: The post-closing trial balance will:<br>A) be prepared
Q13: Define and give an example of a
Q14: Identify the following accounts as either Temporary
Q15: If current assets are $1,500 and current
Q16: Non-current liabilities such as bank notes payable,
Q17: Unearned revenue is an example of a
Q18: The closing entry for the drawings accounts
Q19: The relationship between current assets and current
Q21: The proper sequence for the accounting cycle