Accounting Environment: steps in the accounting cycle
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How do I determine the order of the following:
Prepare a trial balance,
Journalize and post the closing entries,
Prepare financial statements.
Post transaction data to the ledger.
Prepare an adjusted trial balance.
Make end-of-period adjustments.
Journalize transactions.
Prepare an after-closing trial balance.
I need to list the steps in the sequence which they would normally be performed.
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Solution Summary
The solution orders the steps in the process of the accounting cycle.
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The Accounting Cycle is the set of recurring accounting procedures that must be completed for a ...
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