Which sequence correctly summarizes the accounting process?

a. journalize transactions, prepare a trial balance, post to the accounts

b. post to the accounts, journalize transactions, prepare a trial balance

c. journalize transactions, post to the accounts, prepare a trial balance

d. prepare a trial balance, journalize transactions, post to the accounts?

Question

Business

Kaitlynn

29 March, 12:17

Which sequence correctly summarizes the accounting process?

a. journalize transactions, prepare a trial balance, post to the accounts

b. post to the accounts, journalize transactions, prepare a trial balance

c. journalize transactions, post to the accounts, prepare a trial balance

d. prepare a trial balance, journalize transactions, post to the accounts?

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Answers (1)

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Zara · Answer 1

First you journalize the transactions, records must be kept of the figures before any sums are attempted on them. Then one posts to the accounts, and then you should prepare a trial balance. So the answer would be C, that's the correct sequence of the accounting process.