Question

What are the steps of the accounting cycle, assuming that no worksheet is used. This is...

What are the steps of the accounting cycle, assuming that no worksheet is used. This is the way that the book teaches it. (5 Pts.) Optional, if you prefer to list the steps of the accounting cycle with the use of a worksheet, you may do so, just let me know which route you are taking.

Circle the correct method:           Without Worksheet        With Worksheet

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Homework Answers

Answer #1

1) Financial transactions took place

2) Journal entries is made

3) Then entry Posting to the Ledger

4) Then Trial Balance prepared

5) Then Financial Reports like Balance Sheet/ P&L prepared.

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