Sarah has just completed journalizing the day's entries in the general journal for her housecleaning business.The next step she must take in the accounting cycle will be
A) posting the journal entries to the ledger.
B) analyzing the day's transactions.
C) making adjustments in the journal.
D) preparing a trial balance.
E) closing the books and preparing financial statements.

Question

Quizplus · Accepted Answer

After journalizing the day's entries in the general journal, Sarah's next step in the accounting cycle will be to post the journal entries to the ledger. This involves transferring the information from the general journal to the appropriate accounts in the ledger. Only then can Sarah proceed to analyze the day's transactions, make any necessary adjustments, prepare a trial balance, and ultimately close the books and prepare financial statements.

Sarah Has Just Completed Journalizing the Day's Entries in the General