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Author Question: Show the proper chronological order of the following steps in the accounting cycle by writing 1. for ... (Read 108 times)

Cooldude101

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on: Jul 5, 2018
Show the proper chronological order of the following steps in the accounting cycle by writing 1. for the first step through 8. for the last step.
 
  ________ a. Prepare the financial statements
  ________ b. Prepare an unadjusted trial balance
  ________ c. Record journal entries in the journal
  ________ d. Close the temporary accounts
  ________ e. Post the journal entries to the general ledger
  ________ f. Prepare an adjusted trial balance
  ________ g. Prepare a postclosing trial balance
  ________ h. Prepare and post adjusting journal entries

Question 2

The ratio of sales to assets measures how effectively a business is using its assets to generate sales.
 a. True
  b. False
 
   Indicate whether the statement is true or false


maya.nigrin17@yahoo.com

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a. 6,
b. 3,
c. 1,
d. 7,
e. 2,
f. 5,
g. 8,
h. 4

Answer to Question 2

True


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