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1 January, 01:17

List the steps of the accounting cycle in their proper order.

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  1. 1 January, 02:53
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    The accounting cycle is all about managing, updating and reporting on the firm's accounts.

    Explanation:

    The accounting cycle can be listed in the following nine steps as:

    Step 1: analyzing transactions as sales, purchase, etc Step 2: All the transactions need to be recorded Step 3: All the information should be transferred from journal to the ledger Step 4: An unadjusted trial balance should be formulated Step 5:Adjusted entries are prepared Step 6: An adjusted trial balance is constructed Step 7: a financial statement is prepared Step 8: Closing entries are prepared Step 9: The post closing trial balance is prepared
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