The steps in the accounting cycle are listed in random order below. List the steps in proper
sequence, assuming no worksheet is prepared, by placing numbers 1-9 in the blank
spaces.
a. Prepare a trial balance.
b. Journalize the transactions.
c. Journalize and post-closing entries.
d. Prepare financial statements.
e. Journalize and post adjusting entries.
f. Post to ledger accounts.
g. Prepare a post-closing trial balance.
h. Prepare an adjusted trial balance.
i. Analvze business transactions.
2. The balance sheet debit column of the worksheet for Shaw Company includes the following accounts:
Accounts Receivable $12,500; Prepaid Insurance $3,600; Cash $4,100: Supplies $5,200, and Short-term
Investments $6.700. Prepare the current assets section of the balance sheet, listing the accounts in
proper sequence.
WILLOW TURENNE COMPANY
Adjusted Trial Balance
For the Month Ended June 30, 2012
Adjusted Trial Balance
Debits Credits
Account Titles
Cash $3,712
Accounts Receivable 3,904
Supplies 480
Accounts payable $1,556
Unearned Service Revenue 160
Owner
Answers: 1
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