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Accounting
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Which of the following steps of the accounting cycle is not completed at the end of the​ period?

a. Prepare the financial statements

b. Prepare the post-closing trial balance

c. Journalize transactions as they occur

d. Journalize and post the closing entries

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Elin Hessel
Elin HesselLv2
8 Apr 2020
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Related questions

1- The requirement that only transaction data capable of beingexpressed in terms of money be included in the accounting recordsrelates to the
Answer

A. cost principle.

B. monetary unit assumption.

C. economic entity assumption.

D. both a and b above.


2- Transactions are initially recorded in the
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A. general ledger.

B. trial balance.

C. general journal.

D. balance sheet.


3- The proper sequence for the accounting cycle is
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A. analyze, journalize, post, adjust, prepare statements,close.

B. post, journalize, analyze, prepare statements, close,adjust.

C. prepare statements, journalize, post, adjust, close,analyze.

D. journalize, post, close, prepare statements, adjust,analyze.


4- In preparing closing entries, which of the following columns ofthe worksheet are the most helpful?
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A. The Adjusted Trial Balance columns

B. The Income Statement columns

C. The Balance Sheet columns

D. The Adjustments column

Closing entries and a post-closing trial balance are steps in the accounting cycle that occur after preparing financial statements. True or False?

which of the following is done last at the end of the year? prepare adjusting journal entries, prepare an adjusted trial balance, prepare closing journal entries, prepare a post closing trial balance

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