Which of the following identifies the proper order of the accounting cycle?
A)Analyze,journalize,unadjusted trial balance
B)Analyze,post,unadjusted trial balance
C)Journalize,post,unadjusted trial balance
D)Unadjusted trial balance,adjusted trial balance,close
E)Adjusted trial balance,adjustments,financial statements

Question

Quizplus · Accepted Answer

The proper order of the accounting cycle is journalize, post, unadjusted trial balance. After journalizing the transactions, they are then posted to the ledger accounts. The unadjusted trial balance is then prepared to ensure that debits and credits are equal, and to identify any errors or omissions in the accounts. The cycle then continues with adjusting entries, adjusted trial balance, financial statements, and closing entries. Option A is incorrect because analysis is typically done before transactions are journalized. Option B is incorrect because posting comes after journalizing. Option D is incorrect because the adjusted trial balance comes before the unadjusted trial balance. Option E is incorrect because adjustments come before the adjusted trial balance.

Which of the Following Identifies the Proper Order of the Accounting