Accounting Cycle

First step in the Accounting Cycle is?

• Financial Statements

• Post-Trial Balnce

• Source Documents

• Journal

Second step in the Accounting Cycle is?

• Journal

• Ledger

• Trial Balance

• Source Documents

Third Step in the Accounting Cycle is?

• Trial Balance

• Closing Entries

• Post-Trial Balance

• Ledger

What is the fourth step in the Accounting Cycle?

• Trial Balance

• Journal

• Financial Statements

• Post-Trial Balance

The Fifth step to the Accounting Cycle is?

• Journal

• Financial Statements

• Ledger

• Post-Trial Balance

The Sixth step in the Accounting Cycle is

• Closing Entries

• Post-Trial Balance

• Financial Statements

• Source Documents

What is the Seventh step in the Accounting Cycle?

• Journal

• Financial Statements

• Source Documents

• Closing Entries

What Financial Statement tells about the companies present condition?

• Balance Sheet

• Statement of Owner’s Equity

• Statement of Cash Flow

• Income Statement

What Financial Statement tells about the amount of Cash Flows through a company

• Statement of Cash Flow

• Income Statement

• Statement of Owner’s Equity

• Balance Sheet

What Temporary Accounts should be closed at the end of the Cycle?

• Cash, Notes Payable, Drawings

• Revenue, Drawing, Expense

• Income, Merchandise, Accounts Payable