Ask Question
5 September, 09:00

Which sequence correctly summarizes the accounting process? A. Journalize transactions, post to the accounts, prepare a trial balance B. Prepare a trial balance, journalize transactions, post to the accounts C. Journalize transactions, prepare a trial balance, post to the accounts D. Post to the accounts, journalize transactions, prepare a trial balance

+4
Answers (1)
  1. 5 September, 09:31
    0
    A. Journalize transactions, post to the accounts, prepare a trial balance

    Explanation:

    The Transaction are Journalized first and the these are posted to the relevant account after that according to their nature of account and debit credit impact to each account. At the end of the period all the closing balances of the account are calculated and listed in the trial balance from where we start to make our financial statements. So the correct sequence for the accounting process is Journalize transactions, post to the accounts, prepare a trial balance.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which sequence correctly summarizes the accounting process? A. Journalize transactions, post to the accounts, prepare a trial balance B. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers