Question

Which of the following steps of the accounting cycle are in the correct order? a.make adjustments, complete a work sheet, post to general ledger accounts b.prepare a trial balance, post to general ledger accounts, journalize adjusting and closing entries c.prepare financial statements, make adjustments, prepare a trial balance d.prepare a trial balance, make adjustments, prepare financial statements.

Answer 1

Answer:

D

Explanation:

Preparing an unadjusted trial balance is the fourth step in the accounting cycle (might as well prepare a worksheet to work on the next step)

Next step will be determining transactions needed to be adjusted and recording it in the general journal as adjusting entries to prepare the adjusted trial balance .

And then prepare the financial statements.