Question & Answer: History Bookmarks Tools Window Help st: Homework 3-2. + pus.wu.edu/webapps/assessment/take/launch.jsp?course. c Search Question…..

History Bookmarks Tools Window Help st: Homework 3-2. + pus.wu.edu/webapps/assessment/take/launch.jsp?course. c Search Question Completion Status: QUESTION 1 0.25 poin Which of the following is the proper chronological order of the steps in the accounting cycle? Record adjusting entries in the journal and post to the ledger, record and post-closing entries, prepare the financial statements, and prepare the post-closing trial balance. Record entries in the ledger and post them to the journal, record and post adjusting entries, prepare the unadjusted trial balance, prepare the financial statements, prepare the adjusted trial balance, prepare a post-closing trial balance and close the temporary accounts into Retained Earnings. Close the temporary accounts into Retained Earnings and prepare a post-closing trial balance, record entries in the journal and post them to the ledger, prepare the unadjusted trial balance, record and post adjusting entries, prepare the financial statements, and prepare the adjusted trial balance ORecord adjusting entries in the ledger and post them to the journal, record and post entries in the journal, prepare the unadjusted trial balance, prepare the adjusted trial balance, close the temporary accounts into Retained Earnings, prepare a post-closing trial balance and prepare the financial statements Record entries in the journal and post them to the ledger, prepare the unadjusted trial balance, record and post adjusting entries, prepare the adjusted trial balance, prepare the financial statements, close the temporary accounts into Retained Earnings and prepare a post-closing trial balance. QUEST Click Save and Suhmit t

History Bookmarks Tools Window Help st: Homework 3-2. + pus.wu.edu/webapps/assessment/take/launch.jsp?course. c Search Question Completion Status: QUESTION 1 0.25 poin Which of the following is the proper chronological order of the steps in the accounting cycle? Record adjusting entries in the journal and post to the ledger, record and post-closing entries, prepare the financial statements, and prepare the post-closing trial balance. Record entries in the ledger and post them to the journal, record and post adjusting entries, prepare the unadjusted trial balance, prepare the financial statements, prepare the adjusted trial balance, prepare a post-closing trial balance and close the temporary accounts into Retained Earnings. Close the temporary accounts into Retained Earnings and prepare a post-closing trial balance, record entries in the journal and post them to the ledger, prepare the unadjusted trial balance, record and post adjusting entries, prepare the financial statements, and prepare the adjusted trial balance ORecord adjusting entries in the ledger and post them to the journal, record and post entries in the journal, prepare the unadjusted trial balance, prepare the adjusted trial balance, close the temporary accounts into Retained Earnings, prepare a post-closing trial balance and prepare the financial statements Record entries in the journal and post them to the ledger, prepare the unadjusted trial balance, record and post adjusting entries, prepare the adjusted trial balance, prepare the financial statements, close the temporary accounts into Retained Earnings and prepare a post-closing trial balance. QUEST Click Save and Suhmit t

Expert Answer

 

Option b is the answer. The chronological order for steps in accounting cycle as

Record entries in the ledger and post them to the journal, record and post adjusting entries.prepare the unadjusted trial balance. Prepare the financial statements , prepare the adjusted trial balance, prepare a post closing trial balance and close the temporary account into retaining earnings.

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