Discuss the steps in the accounting cycle

Reference no: EM131519831

Question: Listed below are all the steps in the accounting cycle.

(a) Record and post adjusting entries.

(b) Post the transaction to the T-account in the general ledger.

(d) Prepare financial statements (income statement, statement of stockholders' equity, balance sheet, and statement of cash flows).

(e) Record and post closing entries.

(f) Prepare a trial balance.

(g) Analyze the impact of the transaction on the accounting equation.

(h) Assess whether the transaction results in a debit or a credit to the account balance.

(i) Use source documents to identify accounts affected by external transactions.

Required: List the steps in proper order.

Reference no: EM131519831

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