Accounting Cycle

Step 1

Analyze transactions.
Step 2

Journalize.
Step 3

Post from journal to ledger.
Step 4

Prepare unadjusted trial balance.
Step 5

Adjust.
Step 6

Prepare adjusted trial balance.
Step 7
- Prepare statements.
- Income Statement,
- Statement of Owner's Equity,
- Balance Sheet.
Step 8
- Close temp accounts.
- Revenue,
- COGS,
- Expenses.
Step 9

Prepare post-closing trial balance.

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Card Set

Accounting Cycle

Description

Steps in the Accounting Cycle

Updated

2013-04-17T22:22:21Z

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